News Centre

Deputy Comptroller US Office Of The Comptroller Of The Currency Testifies On Artificial Intelligence

Date 13/05/2022

Deputy Comptroller for Operational Risk Policy Kevin Greenfield today testified during a hearing before the House Financial Services Committee Task Force on Artificial Intelligence (AI). He discussed the Office of the Comptroller of the Currency’s (OCC) approach to responsible innovation and its supervisory expectations for banks’ use of AI, including regulatory compliance. Greenfield also discussed the OCC’s ongoing efforts to update the agency’s technological framework to support its bank supervision mandate.

EBA Publishes Final Technical Standards On Crowdfunding Service Providers

Date 13/05/2022

The European Banking Authority (EBA) today published its final draft Regulatory Technical Standards (RTS) specifying the information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers. The final draft RTS also specify a minimum set of common standards with regards to information to be considered in credit risk assessment and loan valuation and the underlying policies and governance arrangements.

ESMA Makes Recommendations For Disclosures Of Expected Impacts Of IFRS 17 Application

Date 13/05/2022

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued a Public Statement on the Transparency on implementation of IFRS 17 Insurance Contracts. 

Insurance Brokers: Serving Consumers And Businesses In Times Of Uncertainty And Change - Speech By Sheldon Mills, UK Financial Conduct Authority, Executive Director, Consumers And Competition, Delivered At The British Insurance Brokers' Association (BIBA) Conference

Date 13/05/2022

Highlights

• Brokers play a vital role in helping consumers and businesses access the insurance products they need, especially in times of uncertainty, safeguarding them against unexpected financial losses.
• We want to support competition, innovation and growth in the sector – like other parts of the financial system where we are seeing innovation and disruption through technology, data-sharing, and novel business models. 
• Our regulation takes into account the size and complexity of regulated businesses, but we are mindful of our impact on smaller firms, and we are playing close attention to the views of different stakeholders as we review our regulatory and redress framework.
• Insurance brokers have the power to deliver social good, through helping consumers and businesses manage risks, supporting the UK’s transition to net zero, and fostering a more diverse and inclusive culture to better support customers and the sector.

CFTC Commissioner Pham Announces Additional Staff Appointments

Date 13/05/2022

CFTC Commissioner Caroline D. Pham announced today that Keaghan Ames will join her staff and serve as Counselor & Senior Policy Advisor starting May 23.

CryptoCompare Research - Exploring Stablecoins: Terra & UST's Fall From Grace

Date 13/05/2022

The recent blowup in the Terra ecosystem has been one of the most impactful events in the history of crypto - comparable with the collapse of Mt. Gox in 2014, and the sharp market crash in January 2018 and in March 2020.

CCP12 Responds To The CFTC Request For Comment On FTX Request For Amended DCO Registration Order

Date 13/05/2022

CCP12 has published its response to the CFTC Request for Comment on FTX Request for Amended DCO Registration Order (Link).

Commonwealth Signs MoU With The International Islamic Trade Finance Corporation

Date 13/05/2022

The Commonwealth Secretariat and the International Islamic Trade Finance Corporation (ITFC) signed a Memorandum of Understanding (MoU) today to collaborate on key areas of development.

ESMA Reminds Issuers Of The Main IFRS Requirements Amid The War In Ukraine

Date 13/05/2022

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today released a Public Statement on the implications of Russia’s invasion of Ukraine on half-yearly financial reports.

Moscow Exchange: Updated Constituents List For OFZ Zero Coupon Yield Curve To Come Into Force On 16 May 2022

Date 13/05/2022

On 16 May 2022, the following updated constituents list for OFZ Zero Coupon Yield Curve will come into force.