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  • Nigerian Exchange Weekly Market Report For May 13th, 2022

    Date 13/05/2022

    A total turnover of 1.816 billion shares worth N27.194 billion in 36,286 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1,598 billion shares valued at N19.603 billion that exchanged hands last week in 21,494 deals.

  • 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.