The University of Portsmouth has officially set a date for its 3rd Winter Economic Crime Symposium, which will be held online for free on February 3 2022 from 10:00 – 16:00 UK time. Fraud, corruption, bribery, money laundering, price-fixing cartels and intellectual property crimes pursued typically for financial and professional gain, have devastating consequences for the prosperity of economic life. Too often an effective response to economic crime is limited by institutional, disciplinary, and cultural barriers. The 3rd Winter Economic Crime Symposium brings together a diverse body of researchers, practitioners, students, and other community members to discuss how economic criminology can feed an effective response to economic crime.  Continue reading…

by Michel Klompmaker

Risk & Compliance Platform Europe had the chance to interview Mike Kessler, the Chief Executive Officer, on his new revolutionizing project, the launch of a new stock exchange called Tokenise. Tokenise will be one of the first fully regulated global stock exchanges for security tokens in the world. Tokenise is democratizing ownership by allowing anybody to own and sell a portion of what they love, as well as allowing asset owners and artists to receive formerly untapped revenue. Through Tokenise, for the very first time, people can now participate in fractional ownership or royalties by investing in security tokens on a stock exchange fully regulated in Barbados.

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by Nigel Rizzo

At the Risk and Resilience Festival on November 4th, 2021, there were many speakers that gave amazing presentations. One speaker, Aizhan Tursunbayeva, spoke about ‘People Analytics’ in an organisation and how it impacts the workforce.

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The FCA has reformed its decision-making process to ensure it can make faster and more effective decisions for consumers, markets and firms. As part of its transformation to a more innovative and assertive regulator, more decisions will be taken by the FCA’s senior managers rather than by the Regulatory Decisions Committee (RDC). The new process will ensure decisions to prevent or stop consumer harm are taken more quickly.  Continue reading…

Corruption is a cancer within the body of societies—a disease that eats at public trust and the ability of governments to deliver for their citizens. The deleterious effects of corruption impact nearly all aspects of society. It exacerbates social, political, and economic inequality and polarisation; impedes the ability of states to respond to public health crises or to deliver quality education; degrades the business environment and economic opportunity; drives conflict; and undermines faith in government. Those that abuse positions of power for private gain steal not just material wealth, but human dignity and welfare. Recognising corruption’s ability to corrode democracy, on June 3, 2021, President Biden established the fight against corruption as a core U.S. national security interest. Continue reading…

European Commission and the High Representative for Foreign Affairs and Security Policy have recently launched the Global Gateway, the new European Strategy to boost smart, clean and secure links in digital, energy and transport and strengthen health, education and research systems across the world. It stands for sustainable and trusted connections that work for people and the planet, to tackle the most pressing global challenges, from climate change and protecting the environment, to improving health security and boosting competitiveness and global supply chains. Continue reading…

Klaas Knot has taken office as Financial Stability Board (FSB) Chair, succeeding Randal K. Quarles. Mr. Knot is President of De Nederlandsche Bank (DNB). Prior to his appointment as Chair, Mr. Knot had been serving as FSB Vice Chair and Chair of the FSB’s Standing Committee on Assessment of Vulnerabilities (SCAV). FSB Plenary members, in their final meeting under Randal Quarles’ leadership on 18 November, expressed their gratitude to Randal Quarles for his leadership and commitment in chairing the FSB during the past three years, and looked forward to working with Klaas Knot. Continue reading…

The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, decreased, driven by the interest rate effect in October 2021. Composite cost-of-borrowing indicator for new loans to corporations decreased by 6 basis points to 1.43%, driven by the interest rate effect, with indicator for new loans to households for house purchase broadly unchanged at 1.31%. Composite interest rate for new deposits with agreed maturity from corporations and for overnight deposits from corporations unchanged at -0.34% and -0.03%, respectively. Composite interest rate for new deposits with agreed maturity from households broadly unchanged at 0.23%, with interest rate for overnight deposits from households unchanged at 0.01%.  Continue reading…

The Financial Stability Board (FSB) recently published the 2021 list of global systemically important banks (G-SIBs) using end-2020 data and an assessment methodology designed by the Basel Committee on Banking Supervision (BCBS). The 30 banks on the list remain the same as the 2020 list. Continue reading…