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ECB Banking Supervision conducts sensitivity analysis of liquidity risk as its 2019 stress test

15 February 2019

The European Central Bank (ECB) has launched a sensitivity analysis of liquidity risk to assess the ability of the banks it directly supervises to handle idiosyncratic liquidity shocks. The exercise will constitute the supervisory stress test of 2019. The results of the exercise will feed into the ECB’s ongoing supervisory assessments of banks’ liquidity risk management frameworks, including the Supervisory Review and Evaluation Process (SREP). However, the outcome of the stress test will not affect supervisory capital and liquidity requirements in a mechanical way. Continue reading…

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SEC Charges Former Senior Attorney at Apple With Insider Trading

14 February 2019

The Securities and Exchange Commission (SEC) filed insider trading charges against a former senior attorney at Apple whose duties included executing the company’s insider trading compliance efforts. The SEC’s complaint alleges that Gene Daniel Levoff, an attorney who previously served as Apple’s global head of corporate law and corporate secretary, received confidential information about Apple’s quarterly earnings announcements in his role on a committee of senior executives who reviewed the company’s draft earnings materials prior to their public dissemination.

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FSB publishes Global Monitoring Report on Non-Bank Financial Intermediation 2018

13 February 2019

The Financial Stability Board (FSB) today published the Global Monitoring Report on Non-Bank Financial Intermediation 2018. The report presents the results of the FSB’s eighth annual monitoring exercise that assesses global trends and risks from non-bank financial intermediation. It covers data up to end-2017 from 29 jurisdictions, which together represent over 80% of global GDP. Continue reading…

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ECB will directly supervise 119 banks in 2019

12 February 2019

The number of significant institutions that will be directly supervised by the European Central Bank (ECB) from 1 January 2019 stands at 119 following the annual review of significance and ad hoc assessments. The changes in significance statuses are the result of new group structures, license withdrawals, mergers and other developments. Several large banking groups have also relocated their activities to the euro area. This has increased the overall complexity and size of directly supervised banks. Continue reading…

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The role of SQ in our work and in the stories of our lives

11 February 2019

Author: Dina-Perla Portnaar

I sat across a director of an executive search and leadership company, talking about secure base leadership, unleashing the individual’s potential, changing the minds of the top leaders of the country and more, when he looked at me in a daring way and said: “I read so many books with theories on culture, human behavior, risks, failures and successes. In the end, the key differentiator which will lead to success is not EQ or SQ, but IQ”. This man was trying to challenge me and question the psychological-spiritual backbone I built up in the past six years. It made me think of the target-oriented, corporate, driven and masculine professional I used to be. A large part of me longed for the ‘simplicity’ of that existence, talking and acting in secular ways and focusing on knowledge, competences and skills more than anything else. Another part of me screamed: who are you kidding? You know, it is the combination that makes a difference, both short-term and long-term.

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Lower House of Dutch Parliament adopts bill introducing a collective damages action

07 February 2019

by Daan Lunsingh Scheurleer

On January 29th, 2019, a bill introducing a collective damages action on an opt-out basis for persons domiciled in the Netherlands was adopted by the lower house of Dutch Parliament. The bill will now be submitted to the upper house for approval. If approved, the bill may come in to force and effect on July 1st, 2019 at the earliest. However, this would require a rather swift approval process and January 1st, 2020, seems to be the more likely effective date. Under the current collective litigation regime, no monetary damages can be sought on a collective basis. The essence of the bill is that this restriction will be removed, so that a group action for monetary damages is possible. At the same time, the bar is raised for collective claims in order to achieve a fair and balanced system, which provides a higher level of finality for defendants. Under the new regime, finality is also increased by making a court ruling awarding or denying the collective relief sought binding on the individual members of the group, whereas under the current regime, there is no such binding effect. Continue reading…

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EU-Japan trade agreement enters into force

06 February 2019

Businesses and consumers across Europe and in Japan can now take advantage of the largest open trade zone in the world. The Economic Partnership Agreement between the EU and Japan has enter into force. Businesses and consumers across Europe and in Japan can now take advantage of the largest open trade zone in the world. Continue reading…

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ECB 2018 stress test analysis shows improved capital basis of significant euro area banks

05 February 2019

The European Central Bank (ECB) published aggregate results for the 2018 stress test for all participating banks under its supervision. The 87 banks covered in the report include 33 euro area banks that were part of the EU-wide stress test coordinated by the European Banking Authority (EBA). The ECB conducted additional stress tests on 54 significant institutions which it directly supervises and which were not part of the EBA stress test. Both sets of results form the aggregate report released today. The reference date for the 2018 stress test was 31 December 2017.

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Executive Master Program Forensic Auditing

04 February 2019

Recently we spoke to Evert-Jan Lammers regarding the 2019 Program Forensic Auditing, located in Brussels (in English) developed by a small team of the Institute of Fraud Auditors (IFA) Belgium. The IFA is the National Professional Federation of Fraud Auditors in Belgium. IFA was founded in 2001 as a not for profit association which is based on a public-private partnership. IFA holds a Register of professionals who are certified as “Registered Fraud Auditor”. IFA develops best practices for professionals who are active in the domain of fraud combat in the public and private sector. IFA is hosting these trainings. The Program Forensic Auditing is organized in Brussels, with experienced trainers. Candidates of the Program have to attend 24 workshops in English. After having successfully finished the Program, candidates will receive the title of Registered Fraud Auditor (RFA).