Knowledge base  Governance - Behavioral Risk - Soft Controls

View all AML - CDD - KYC Artificial Intelligence Basel Brexit ERM GDPR Governance - Behavioral Risk - Soft Controls Insurance MiFID Security 


45+ Stats About Big Tech’s Carbon Footprint (Part 1)

22 January 2024
Knowledge Base

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…

The Inevitable Human Rights Anchor for Compliance Professionals in Finance

18 January 2024
Knowledge Base

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…

EU banks’ liquidity coverage ratio declined but remains well above the minimum requirement

17 January 2024

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…

Banks remain robust but higher interest rates could impact their asset quality, the EBA finds

15 January 2024

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…

Macroprudential policies can mitigate the financial-stability risks of housing markets

09 January 2024

Macroprudential policies can significantly mitigate the financial risks associated with boom-bust cycles in the housing market, according to a report released recently by the Committee on the Global Financial System (CGFS). In the report, the CGFS – a central bank forum for assessing risks to financial stability, hosted by the Bank for International Settlements – distils four key lessons for policymakers from experiences in 14 jurisdictions. Continue reading…

Tackling major organised drug crime top priority for Belgian EU Presidency

08 January 2024

In relation to Eurojust, the Belgian Presidency of the Council of the European Union will put a particular focus on tackling serious organised drug-related crime. Special attention will be paid to the use of logistic hubs for this type of cross-border crime and, more specifically, how to combat drug trafficking via major ports. The Presidency will also prioritise the importance of victims’ rights and small-scale detention as an alternative to prisons for small groups of offenders with short sentences.

Continue reading…

Martijn van de Westelaken: Reporting and the Process

13 December 2023
Knowledge Base

by Michel Klompmaker

On 7 November 2023, the Serious Whistleblowing Annual Conference took take place at the Hague University of Applied Sciences in the Hague, Netherlands, which was organised together with one of the best-known lawyers in the field, Caroline Raat. The EU Whistleblower Directive has been implemented in the Whistleblowers Protection Act. Employers have set up their internal procedures or are busy doing so. What is of great importance for the professionals in the field is the following: (I) receiving notifications securely, (ii) protecting the reporter, (iii) investigations into reported abuses, (iv) handling and measures, and (v) legal proceedings. This is part two in a series of three articles on the event.  Continue reading…

24th EU-China Summit

08 December 2023
Knowledge Base

The European Union and China held their 24th Summit in Beijing on 7 December 2023. President of the European Council, Charles Michel, and President of the European Commission, Ursula von der Leyen, met with China’s President, Xi Jinping, followed by an exchange with China’s Premier, Li Qiang. The Summit was an opportunity to engage with China following a period of intensified bilateral contacts and dialogues. High-level visits and dialogues on strategic and foreign policy issues, human rights as well as trade and economy, climate, and environment, digital have paved the way for the Summit, demonstrating the EU’s commitment to engage with China. The EU highlighted the need for concrete progress following these discussions. Continue reading…