The Chairman of the Belgian Financial Services and Markets Authority (FSMA) and IOSCO Board Chair Jean-Paul Servais has been re-elected chair of the European Regional Committee of the international organization IOSCO. The members of the IOSCO European Regional Committee have re-elected Jean-Paul Servais for a two-year term as chair of the European Regional Committee. He combines this responsibility with the Chairmanship of the IOSCO Board since October 2022. Continue reading…

In its Business Plan for 2024-25, the Financial Conduct Authority (FCA) has set out an ambitious programme of work for the final year of its 3-year strategy to achieve better outcomes for consumers and markets. Nikhil Rathi, Chief Executive of the FCA, said: “We’ve already made significant progress in delivering against the bold vision we set out in our strategy two years ago, including the game-changing introduction of the Consumer Duty and proposing the most far-reaching reforms to wholesale market regulation and the listing regime in decades. We remain resolute in supporting the vital role the financial sector plays in the UK’s long-term economic growth, embracing the potential benefits that technology presents both for us and the firms we regulate, while also continuing to protect consumers and ensure market integrity.”

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Marcusevans is excited to announce that the Chief Litigation Officer Summit returns in June 24-25 at Encore Boston Harbor Boston, MA, USA! The 41st Chief Litigation Officer Summit is an invitation-only, premium Summit bringing leading Litigation executives and innovative suppliers and solution providers together. The Summit’s content is aligned with key litigation challenges and interests, relevant market developments, and practical and progressive ideas and strategies adopted by successful pioneers. Continue reading…

The eleventh European Union (EU) – United States (US) Energy Council (“Council”) met last Friday 15th March, in Washington, chaired by US Deputy Secretary of State Kurt Campbell, US Deputy Secretary of Energy David M. Turk, European Commissioner for Energy Kadri Simson, and EEAS Acting Deputy Secretary General Bélen Martinez Carbonell. The Deputy Head of Mission of the Kingdom of Belgium to the United States of America, Sophie Karlshausen, represented the Presidency of the Council of the European Union. The EU-US Energy Council serves as the lead transatlantic forum for coordinating strategic energy issues at political and technical levels. Transatlantic energy cooperation is vital to advancing diverse and resilient energy systems, bolstering energy security, promoting stability and transparency in global energy markets, and accelerating just energy transitions consistent with our mutual commitment to net-zero greenhouse gas emissions at home and globally by 2050. Continue reading…

by Daoud Abdel Hadi

It’s a new world – defined by rapid technological advancements, and witnessing more organisations embracing AI. To navigate this ever changing landscape, it is essential that regulators recognise traditional governance principles no longer suffice. In fact, relying on these outdated principles could result in more harm than good. Regulators must begin to use the power of AI to modernise their approach and promote responsible innovation. As the world turns, it’s essential for regulators to foster an ecosystem that integrates AI effectively and protects individuals at the same time. Continue reading…

The Financial Conduct Authority (FCA) has committed to investigate the use of personal guarantees by lenders to support loans to certain small businesses. The steps come in response to a super complaint from the Federation of Small Businesses (FSB). The FSB has raised concerns that a growing demand for personal guarantees by lenders has a detrimental impact on small businesses, which they believe dissuades them from borrowing funds to grow. It has particular concerns about small limited companies. The FCA’s remit, which is set by Parliament, does not include lending to limited companies. However, the work announced by the FCA reflects its commitment to do what it can to support small businesses within its defined remit.
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by Ajay Katara

Climate risk is assuming a critical role for banks and financial institutions due to the mounting environmental challenges. As the frequency and severity of climate-related events increase, banks face heightened risks associated with their investments, loans, and overall financial stability. It’s no surprise that climate risk management features in the topmost agenda for CRO’s (Chief Risk Officers) globally as effectively managing these risks is imperative to safeguard assets, ensure regulatory compliance, and promote long-term sustainability in the context of a changing climate. Continue reading…

This is the message of the “Zero Corruption Forum”. The event organized in Rome – in the prestigious spaces of the LUMSA University – by the Business at OECD (BIAC) was an opportunity to launch the “Zero Corruption” Manifesto against Corruption. At the base of the Manifesto there is the renewed Responsibility of each of us, of companies, of the public sector “we are responsible for the future” and there are the concepts that are referred to in the SDG (Social Development Goals) of the UN and in the value of stakeholders. Corruption is fought through prevention, repression and the creation of a culture of integrity, especially through classroom training dedicated to students and, in the company, involving all staff, including top management

by Robert Houghton

Remaining compliant in today’s financial landscape is no easy feat. Every call, message, communication and snippet of information shared between employees, customers and trading partners must be captured, stored and monitored to prove compliance. To regulators, every financial institution is potentially guilty of wrongdoing, until proven innocent. On top of that, we’ve seen the emergence of regulations like the Digital Operational Resilience Act (DORA) showing that regulators’ demands are increasing and growing stricter1. This leaves many financial institutions wondering if their compliance status has changed. So, how can they ensure they are remaining compliant when the goalposts keep moving? Continue reading…

For the first time, Eurojust has supported an international joint action led by the European Public Prosecutor’s Office (EPPO) against large-scale cross-border carousel VAT fraud involving companies in several Member States. The joint operation, also supported by Europol, resulted in the arrest of 14 suspects and more than 180 simultaneous searches in 17 countries. Over 680 officers participated in the actions on the ground.

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