The UK Government has today published a summary of responses to the consultation on the legacy of the Troubles in Northern Ireland. This publication was produced after analysis of over 17,000 responses to the consultation last year. It will inform the UK Government’s next steps working with a reformed Northern Ireland Executive or, if it has not been restored, with the political parties in Northern Ireland. Continue reading…

IT Governance, the leading provider of cyber risk and privacy management solutions, has released the results of its first Web Application Attack Survey, which examines how information security professionals across a wide range of industries protect their applications. The survey reveals the most common reasons that organisations secure applications, and the frequency and types of web application testing that they employ. it also highlights the level of risk faced by organisations, with 37% of respondents reporting that their web application(s) had been compromised in the past 12 months.
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Christine Lagarde, who heads the International Monetary Fund (IMF) since 2011 and was realected in 2016, resigins temporarily at the IMF. Christine Lagarde announced her temporary resignation from the body after being nominated to head the European Central Bank. Legarde responded on Twitter to the nomination made by leaders of the European Union. Deputy Director David Lipton will take the position of acting director at the International Monetary Fund (IMF).
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Fabiana Abdel-Malek was sentenced to 3 years’ imprisonment and Walid Choucair sentenced to 3 years’ imprisonment in respect of five offences of insider dealing. Fabiana Abdel-Malek and Walid Anis Choucair were each convicted over the course of the past three days of insider dealing following an eleven week trial brought by the Financial Conduct Authority (FCA) at Southwark Crown Court.
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The Board of the Bank for International Settlements (BIS) approved the establishment of a BIS Innovation Hub to foster international collaboration on innovative financial technology within the central banking community complementing the already well established cooperation within the existing committees. The role of the Hub will be to identify and develop in-depth insights into critical trends in technology affecting central banking; develop public goods in the technology space geared towards improving the functioning of the global financial system; and serve as a focal point for a network of central bank experts on innovation.

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The entry of large technology firms (“big techs”) such as Alibaba, Amazon, Facebook, Google and Tencent into financial services, including payments, savings and credit, could make the sector more efficient and increase access to these services, but also introduces new risks, the Bank for International Settlements (BIS) writes in its Annual Economic Report.
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According to NATOs Secretary Genera,l Jens Stoltenberg, Russia still has the opportunity to save the INF Treaty, there is a window of opportunity. The deadline ends on the 2nd of August and we continue to call on Russia to come back into compliance with the Treaty. If they don’t come back into compliance, we need to respond. So we also need to prepare for a world without the INF Treaty.
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The European Securities and Markets Authority (ESMA) has published a questionnaire which aims to gather evidence on potential short-term pressures on corporations stemming from the financial sector. Considering the impact of short-termism forms part of ESMA’s work on sustainable finance and relates to the European Commission’s Action Plan on ‘Financing Sustainable Growth’.
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The Financial Conduct Authority (FCA) has fined Bank of Scotland (BOS) £45,500,000 for failures to disclose information about its suspicions that fraud may have occurred at the Reading-based Impaired Assets (IAR) team of Halifax Bank of Scotland. The FCA found that BOS failed to be open and cooperative and failed to disclose information appropriately to the then regulator, the Financial Services Authority (FSA).
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