Andrea Enria, Chair of the Supervisory Board of the ECB, at the Banking Seminar organised by De Nederlandsche Bank, Amsterdam, started her speech by saying: In 1995, the inventor of Ethernet, Robert Metcalfe, boldly predicted, and I quote, “the internet will soon go spectacularly supernova and, in 1996, will catastrophically collapse”. It seems that technological progress is hard to predict, even for experts. More than twenty years later, I feel fairly safe in predicting that we face a binary future. We face a binary future in the sense that ones and zeros will play an ever bigger role in our lives. The world will become even more digital. The world of finance is no exception; banks, too, face a binary future – one, they adapt; zero, they perish. That said, it is hard to predict exactly how digitalisation will change the business of banking and the structure of the market.
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The Securities and Exchange Commission (SEC) charged Talimco LLC, a registered investment adviser, and Grant Gardner Rogers, the former chief operating officer of the firm, with manipulating the auction of a commercial real estate asset on behalf of one client for the benefit of another.  According to the SEC’s order, in or about April 2015 while selling a commercial real estate asset on behalf of a collateralized debt obligation client, Talimco and Rogers were aiming to acquire the asset for another client, a private fund. 

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College takes stock of progress made on the European Agenda on Migration and gives a Brexit update. Nexty to that they hold an orientation debate on EU-China relations: Commissioners held an orientation debate on the opportunities and challenges of EU-China relations in the run-up to the European Council of 21-22 March and the EU-China Summit on 9 April.
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The Financial Reporting Council (FRC) proposes to increase the work required of auditors when assessing whether an entity is a going concern. The consultation on important revisions to International Standard on Auditing (ISA) (UK) 570 Going Concern  follows concerns about the quality and rigour of audit and well-publicised corporate failures where the auditor’s report failed to highlight concerns about the prospects of entities which collapsed shortly after as well as findings from recent FRC Enforcement cases.  In proposing these revisions, requirements on UK auditors will be significantly stronger than those required by international standards.
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Businesses must learn fast, act quickly and scale rapidly or risk irrelevance. As Airmic launches its conference Tech Hub, Jessica Titherington talks to Fujitsu’s Ketan Parekh about the latest technologies disrupting businesses and transforming risk management. The rapid pace of technological advancements today can seem exciting, unpredictable and daunting in equal measure. Developments in Artificial Intelligence (AI) and the Internet of Things (IoT) are accelerating the convergence of physical and digital spaces, and in doing so they are completely changing the business landscape.
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