BIS, Bank of France and Swiss National Bank conclude successful cross-border wholesale CBDC experiment

06 January 2022

Central bank digital currencies (CBDCs) can be used effectively for international settlements between financial institutions, as shown in the newest wholesale CBDC experiment concluded by the Bank for International Settlements (BIS), the Bank of France (BdF) and the Swiss National Bank (SNB). The recently completed Project Jura explored settling foreign exchange (FX) transactions in euro and Swiss franc wholesale CBDCs as well as issuing, transferring and redeeming tokenised euro-denominated French commercial paper between French and Swiss financial institutions. Continue reading…

Personalia

Ken van Ierlant

Digital Thought Leader
Member of the Board of Directors of UpGen. Experienced CEO / CDO / CIO in the field of transformation processes within internationally oriented companies.
Personalia

Marta Andreeva

Global Compliance Program Specialist at Crypto.com since July 2020
Marta is passionate about developing a culture of compliance, increasing awareness and coaching and mentoring others.
Personalia

Theodoros Kringou

Founder and Managing Director, Infocredit Group Ltd and ICG Middle East Commercial Services DMCC (Dubai, U.A.E.)
Theodoros Kringou, a self-made entrepreneur is the Founder and Managing Director of Infocredit Group Ltd and ICG Middle East Commercial Services DMCC (Dubai, U.A.E.).

Heavy Weather Banking: Corporate Debt Restructuring in Times of Crisis

05 January 2022
Knowledge Base

The COVID-19 crisis is creating big financial problems for many corporates, particularly when current government support comes to an end. The banks are insufficiently prepared to deal with those problems, as former banker and restructuring consultant Rob Wijman writes in his book Heavy Weather Banking. ‘Just like a hospital, a bank needs an Intensive Care department with sufficiently skilled staff.’

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New remote customer onboarding guidelines are being discussed by EBA

04 January 2022

The European Banking Authority (EBA) started a public consultation on its proposed Guidelines for the use of remote customer onboarding solutions last week. These Guidelines provide competent authorities with a shared understanding of the steps finance industry operators should take to ensure secure and reliable remote customer onboarding practices in accordance with the relevant anti-money laundering and counter-terrorism financing (AML/CFT) regulations and the EU’s data protection framework. When implemented, these Guidelines will extend to all financial sector operators covered by the Anti-Money Laundering Directive (AMLD). This consultation will be open until March 10, 2022.

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FSB illustrates practical approaches to the execution of bail-in

31 December 2021

The Financial Stability Board (FSB) has recently published a Practices Paper on the Execution of Bail-in. Bail-in is at the core of resolution strategies for global systemically important banks (G-SIBs). Set out in the Key Attributes of Effective Resolution Regimes for Financial Institutions, it is an important tool enabling an orderly resolution that minimises any impact on financial stability and ensures the continuity of critical functions, without exposing taxpayers to loss. Continue reading…

FCA announces changes to its Executive Committee

29 December 2021

The Financial Conduct Authority (FCA) has appointed Stephen Braviner Roman as General Counsel and as a member of its Executive Committee following an open competition. Stephen is expected to join the FCA in February next year. Megan Butler has announced she will step down from her role as Executive Director of Transformation in the spring. Megan joined the FCA from the Bank of England in 2016 as Executive Director of Supervision – Investment, Wholesale and Specialist. Emily Shepperd will lead the FCA’s transformation programme, alongside her role as Executive Director of Authorisations, where since March she has spearheaded changes to our approach to the gateway and has been leading a number of transformation workstreams. Continue reading…

FSB Middle East and North Africa group discusses financial stability outlook and climate-related financial risks

27 December 2021

The Financial Stability Board (FSB) Regional Consultative Group (RCG) for the Middle East and North Africa (MENA) met on December 3rd in virtual format. Members discussed global and regional macro-financial vulnerabilities, including those stemming from the COVID-19 pandemic, their possible impact on RCG MENA member economies, and potential policy responses. As part of the discussion, members discussed initial lessons learnt from a financial stability perspective, and considered the potential implications for the region of exit measures taken in advanced economies. Continue reading…

FCA confirms new Listing Rules to boost growth and innovation on UK stock markets

22 December 2021
Knowledge Base

The FCA has recently confirmed a series of rule changes to ensure that the UK’s public markets remain a trusted and attractive place to list successful companies, providing opportunities for companies to grow from which investors will benefit. The reforms address, and build on, a number of the recommendations made in the UK Listing Review and the Kalifa Review of UK FinTech, with the FCA seizing the opportunity to update its rules to respond to the changing nature of companies looking to list while maintaining high standards for UK public markets. Continue reading…

Charlatans: A risk for ethics in organisations

21 December 2021
Knowledge Base

by Caroline Raat

The days before Christmas are ideal for contemplating profound matters. Such as: do I always act with integrity? The truth: of course not. We are human beings. And, according to psychological literature, integrity – also known as Honesty-Humility on the Hexaco-scale – is not ‘all or nothing’1. Some people score high on this scale (not a 100%), some low, and most are ‘somewhere in-between’. Anyone can do the test, and it’s a sound reality check. Also, that psychology and personality are not to be morally judged, but that they can explain that people who score high on the H-scale are the lucky ones. Continue reading…