For nine years, Risk in Focus has been the trusted resource for internal auditors to shape their risk assessments, annual plans, and audit strategies. The 2025 report reveals a fast-approaching wave of digital disruption, AI advancements, and interconnected risks like never before. Continue reading…

The industry Task Force has set out a roadmap to shorten the UK securities settlement cycle to T+1. In her speech, Sasha Mills (Executive Director, Financial Market Infrastructure) explains why it is important that firms and settlement infrastructures put in place plans for sustainable change that can bring long term efficiencies, while maintaining resilient settlement processes. As part of this effort, the Bank looks forward to continuing to have dialogue with regulators in other markets which are pursuing similar changes. Continue reading…

The Institute of Internal Auditors (The IIA) has recently released the Cybersecurity Topical Requirement, the first of several Topical Requirements to be published this year. Incorporating feedback from global practitioners and stakeholders, the Cybersecurity Topical Requirement provides a baseline approach to assessing the design and implementation of cybersecurity governance, risk management and control processes. Continue reading…

On 19 February, the Commission is presenting its Vision for Agriculture and Food, an ambitious roadmap on the future of farming and food in Europe. This roadmap sets the stage for an attractive, competitive, resilient, future-oriented and fair agri-food system for current and future generations of farmers and agri-food operators. Simplifying further our policies and increasing the uptake of innovation and digitalisation are pre-requisites to all actions outlined in the Vision. Later in 2025, the Commission will propose a comprehensive simplification package for the current agricultural legislative framework, along with an EU digital strategy for agriculture to support the transition to digital-ready farming. Continue reading…

In the most recent round of the Survey on the Access to Finance of Enterprises (SAFE), euro area firms reported a decrease in interest rates on bank loans (a net -4%, compared with a net 4% reporting an increase in the previous quarter), although a net 22% (30% in the previous quarter) observed increases in other financing costs (i.e. charges, fees and commissions) (Chart 1).In this survey round, firms reported a small decline in the availability of bank loans in the fourth quarter of 2024 (a net -2%, down from a net 1% reporting an increase in the previous quarter) (Chart 2). At the same time, firms indicated no change in the need for bank loans, compared with 2% reporting a decrease in the third quarter of 2024. Continue reading…

The Institute of Internal Auditors (The IIA) celebrated a significant milestone, the effective date of the new Global Internal Audit Standards™, first released in January of 2024 as part of the broader International Professional Practices Framework® (IPPF®) Evolution project. After having a year to begin implementing the new Standards, they became effective on January 9 of this year. The Standards provide a basis for assuring effective internal auditing. Since their initial release a year ago, the Standards have been translated into 25 languages and downloaded nearly 600,000 times. Designed to help elevate internal audit performance, quality and consistency across sectors, the Standards have been updated with a focus on internal audit strategy, stakeholder relationships, and internal audit performance measurement and accountability. Continue reading…

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, will be supporting the European Commission’s objective to simplify and reduce the reporting burden in the financial sector. The ESMA Board of Supervisors discussed in December 2024 how to best contribute to efficient simplification and burden reduction actions, while preserving the main objectives of financial stability, orderly markets and investor protection. Continue reading…

The Commission has adopted its 2025 work programme, outlining its ambition to boost competitiveness, enhance security, and bolster economic resilience in the EU. It builds on the commitments set out in the Political Guidelines and the mission letters sent by President von der Leyen. The work programme focuses on the flagship initiatives the Commission will take in the first year of its mandate, responding to the issues that matter most to Europeans. It reflects the need for more opportunities, innovation, and growth for our citizens and businesses, ultimately fostering a more secure and prosperous EU. The newly proposed initiatives are laid out in a dedicated annex together with the evaluations and fitness checks announced on 12 February. Continue reading…

Nearly 20,000 financial promotions were withdrawn or amended in 2024 following intervention from the FCA – nearly double the amount in 2023. The regulator has highlighted concerns with cryptoasset, debt solutions, and claims management company (CMC) promotions. 9,197 CMC promotions were withdrawn in 2024. Many of these promotions were related to housing disrepair and motor finance claims targeted at vulnerable consumers. Continue reading…

QUBE Events is excited to bring back the NextGen Payments & RegTech Forum series to Malta on 20 February 2025 at the Hilton Hotel in St. Julian’s – the vibrant hub for innovation and financial services! This prestigious forum offers valuable opportunities and powerful partnerships across all aspects of finance, from banking and insurance to asset management, fintech, compliance, and regulatory technology. Continue reading…