The Bank for International Settlements (BIS) today appointed Fernando Restoy as Chair of the Financial Stability Institute (FSI). His appointment takes effect on 1 January 2017 and is for a five-year term. Mr Restoy’s appointment fills the vacancy being created by the retirement of Josef Tošovský, who has chaired the FSI since 2000.
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The European Banking Authority (EBA) published last Friday evening the results of the 2016 EU-wide stress test of 51 banks from 15 EU and EEA countries covering around 70% of banking assets in each jurisdiction and across the EU. The objective of the stress test is to provide supervisors, banks and other market participants with a common analytical framework to consistently compare and assess the resilience of large EU banks to adverse economic developments. Along with the results, the EBA is providing again substantial transparency of EU banks’ balance sheets, with over 16,000 data points per bank, an essential step towards enhancing market discipline in the EU.
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The objective of the stress test is to provide supervisors, banks and other market participants with a common analytical framework to consistently compare and assess the resilience of large EU banks to adverse economic developments. But stille teher are questions about methodology, etc… The ten frequently asked questions on the 2016 EU-wide stress test are mentioned below.
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Nordea was subject to the 2016 EU‐wide stress test conducted by the European Banking Authority (EBA) in cooperation with the Swedish FSA, the European Commission (EC) and the European Systemic Risk Board (ESRB).
Victoria Saporta, Chair of the Executive Committee of the International Association of Insurance Supervisors (IAIS), today announced that European Insurance and Occupational Pensions Authority (EIOPA) has joined an international supervisory cooperation and information exchange agreement. Since the first jurisdiction was admitted in June 2009, membership in the IAIS Multilateral Memorandum of Understanding (MMoU) has grown to now include 56 signatories representing over 65% of worldwide premium volume.
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Following the so-called Panama Papers Nordea’s President and CEO, Casper von Koskull, initiated an internal investigation to conclude whether Nordea Bank S.A. in Luxembourg (NBSA) has adhered to internal rules and external regulations regarding activities related to offshore structures. The investigation has now been completed and presented to Nordea’s Board of Directors. All relevant supervisors have been or will be informed of the findings. Nordea has decided on a number of actions to immediately address key conclusions and the recommendations made by the investigation.
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The Financial Conduct Authority (FCA) has today published the final findings of its study of the credit card market, and set out a package of measures, which include a series of industry led proposals, to help consumers take better control of their spending. Continue reading…
The Financial Stability Board (FSB) today published a letter from Mark Carney, Chair of the FSB, which was sent to G20 Finance Ministers and Central Bank Governors ahead of their meeting in Chengdu on 23-24 July. Continue reading…
Firms operating dark pools have made significant progress in addressing the promotion and the management of conflicts of interest according to a new report from the Financial Conduct Authority (FCA) published today. Dark pools are trading venues with no-pre trade transparency where the price and volume of all orders are hidden and anonymous.
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by Frank van den Nieuwenhuijzen
During the closing dinner of the annual meeting of the Risk and Compliance Platform Europe, Professor Ronald Jeurissen and Professor Sharon Oded debated moral muteness and integrity deafness. Professor Jeurissen stressed the importance of breaking through moral muteness among employees. Professor Oded agreed, but added that integrity deafness within an organisation is at least equally important to address.
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Gone are the days when organisations could simply promise a speak up culture. Today, fostering a culture of trust, integrity, and a positive work environment…
Download whitepaperEconomic uncertainty has driven the perfect storm of interlocking risks described in last year’s Risk in Focus in new directions in 2023. Organisations are now…
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Lieve LowetEU Affairs consultant and lobbyist
Elina Karpacheva Chair of the European Compliance Centre based in Sofia, Bulgaria
Ahsan HabibManager, AML Investigation - Correspondent Banking, Royal Bank of Canada
Michael AmadoLawyer in Paris / Lawyer in Canada
Alex MovchanAlex Movchan CIA CICA CFE is the President of the Institute for Internal Controls - Central and Eastern Europe
Elena PykhovaElena Pykhova is a thought leader, influencer and founder of a think tank, Best Practice Operational Risk Forum. 
Daniel VaknineCEO and Partner of Visslan
Nancy MehradAuthor and the CEO and Founder of Registrant Law Professional Corporation
Ajay KataraConsulting Partner and Head the RegTech Portfolio in Banking Risk Management area at Tata Consultancy Services (TCS)
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The EIB, the European Union’s bank, is seeking to recruit for its Group Risk & Compliance Directorate – Regulation and EIB Group Risk Department –…
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ISBN:9791280623188
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The book introduces the key elements contributing to entrepreneurial vitality and sustainability in the medium and long term with a specific focus on digital transformation….