Few Canadian organizations are prepared to handle data breaches, says a Canadian lawyer who focuses on cyber security and data protection law. “Many Canadian organizations haven’t done some of the basic things that regulatory guidance and best practices suggest to minimize risk of a data breach,” Bradley Freedman, Vancouver-based partner at the Borden Ladner Gervais law firm said in an interview Sunday.
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Risk in the portfolio of large syndicated bank loans declined slightly but remains elevated, according to the Shared National Credit (SNC) Program Review by the Federal Reserve Board (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
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Reviews of Shared National Credit Portfolio Find Risk Remains High Underwriting and Risk Management Practices Continue to Improve
Risk in the portfolio of large syndicated bank loans declined slightly but remains elevated, according to the Shared National Credit (SNC) Program Review released today by the Federal Reserve Board (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
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The Financial Conduct Authority (FCA) has today (31/7) published the outcome of its review into high-cost credit, which includes its assessment of the effectiveness of the payday loan price cap.
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LIBOR, or more precisely the London Interbank Offered Rate, has been given many column inches over the past ten years. Before the financial crisis, most people hadn’t heard of LIBOR, even though it is a key part of the functioning of financial markets. It grew up so to speak with the eurocurrency markets, and like a number of things that came to be a focus of attention in the financial crisis, before then it was largely taken for granted, part of the financial landscape.
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The Office of the Comptroller of the Currency announced today that William A. Rowe has been named its Chief Risk Officer, effective immediately. Mr. Rowe fills the position vacated by Linda Cunningham in April 2017 when she retired.
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The Bangko Sentral ng Pilipinas (BSP) reminded yesterday banks and financial institutions on managing operational risks through stricter internal controls as well as rotation of employees. BSP Deputy Governor Chuchi Fonacier said banks should comply with Circular 900 issued in 2016 pertaining to the guidelines on operational risk management.
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The Financial Conduct Authority (FCA) has launched a consultation regarding the government-proposed Office for Professional Body AML Supervision (OPBAS). The consultation sets out draft expectations about how professional body supervisors can meet their obligations in relation to AML supervision.

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Five federal financial regulatory agencies today announced that they are coordinating their respective reviews of the treatment of certain foreign funds under section 619 of the Dodd-Frank Act, commonly known as the Volcker Rule, and the agencies’ implementing regulations.

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The Financial Conduct Authority (FCA) has published on 17 July the Terms of Reference for the Investment Platforms Market Study, which sets out the scope and topics that will be covered.

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