The European Banking Authority (EBA) has published amendments to the reporting requirements for market risk. As the implementation of the Fundamental Review of the Trading Book (FRTB) in the EU approaches, the EBA revised the information to be reported on the own funds requirements under the alternative approaches, and adds reporting on reclassifications of instrument between the regulatory books. Continue reading…

The Financial Conduct Authority (FCA) has launched criminal proceedings against Guy Flintham for committing fraud by false representation and for carrying out regulated activity without authorisation. The FCA alleges that between January 2016 and November 2021, Mr Flintham, based in Blackburn, Lancashire, defrauded around 240 investors by making false representations to persuade them to invest approximately £19m in an investment scheme operated by him. Mr Flintham made a number of fraudulent claims to investors, including about how the scheme was operated and the profits they could and were making via the scheme. He falsified documents in order to support some of his claims.
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by Tom Read

Since the beginning of the Industrial Revolution in the 18th century, the world has increasingly relied on technologies that emit greenhouse gasses. In the 20th century, economies shifted away from mechanical technologies and toward digital technologies that permeate nearly every industry and aspect of life. This large-scale adoption has caused greenhouse gas emissions to increase exponentially. These gasses have dangerously altered the Earth’s atmosphere, causing global temperatures to rise an average of more than 1C, and sea levels to rise 8-9 inches (21-24 cm). Continue reading…

by Simon Lelieveldt

We live in challenging times. A range of natural, macro-economic, technical and geopolitical factors influence the world we are living in. These developments shaped prior laws and the behaviour of regulators, supervisors and private companies and will continue to do so. Somewhere along the line, we can see a board member with the task to ensure adherence to law. He or she is responsible for compliance and has a range of compliance managers, advisors, business lines and experts available to help out. Continue reading…

The European Banking Authority (EBA) has published its report on liquidity measures, which monitors and evaluates the liquidity coverage requirements currently in place in the EU. Between June 2022 and June 2023, the EU banks’ liquidity coverage ratio (LCR) declined but remained comfortably above the minimum requirement. However, within this review period there were important fluctuations in the components of the ratio, driven mostly by changes in the banks’ allocation of funding deposits and the ongoing reduction of central bank liquidity. Unlike the LCR in domestic currency, EU banks’ LCR in foreign currencies remained below 100%.  Continue reading…

The EU’s Data Act has entered into force on 11 January, improving access to data in the EU market for individuals and businesses. In recent years, the Internet of Things has fuelled rapid growth in the amount of data out there. The new rules will encourage the use of data and ensure it is shared, stored and processed in full respect of European rules.  Continue reading…

The European Banking Authority (EBA) has recently published its Q3 2023 quarterly Risk Dashboard (RDB) together with the Risk Assessment Questionnaire (RAQ). The publication also includes information on minimum requirement for own funds and eligible liabilities (MREL). EU/EEA’s banks remained highly profitable, well capitalised and maintained robust liquidity. Banks expect the asset quality to deteriorate as higher interest rates affect borrowers. Continue reading…

by Massimo Balducci

In the ‘90s of the past century the syncopation glocal (global and local) was very popular as the challenge of that time was to be able to frame one’s everyday decisions in the flow of world’s events, the motto being ‘think global act local’. When looking at the Ukrainian war and the strengthening of international alliances, is this motto still worth while? At the opening of the new year  2024 I would like to share this question with the partners of the platform risk & compliance. My reasoning leads me to believe that not only success but even the very survival will depend more and more on the ability of framing oneself in the world scenario at large, whereas compliance is called upon to play a key role especially in the EU and its forthcoming developments. Continue reading…

Now into the second year of its 3-year strategy, the FCA has outlined some key achievements and milestones from the last 12 months, including the game changing introduction of the Consumer Duty, which came into force on 31 July 2023.

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