Podcasts about Financial Stability Board

In this episode of Current Account, Clay is joined by Doug Elliott, Partner at Oliver Wyman, and Andrés Portilla, Managing Director of Regulatory Affairs at the IIF, to take a closer look at the growing global debate over regulatory modernization. Fifteen years after the Global Financial Crisis led policymakers to introduce an expansive set of rules designed to reinforce financial stability, many jurisdictions are now questioning whether the existing framework has become overly complex, duplicative, or limiting to growth. Together, Clay, Doug, and Andrés unpack what modernization really means today, whether it is simplification, de‑layering, right‑sizing, or true deregulation, and why the conversation is gaining urgency across markets. Doug lays out the philosophical and practical forces behind modernization efforts globally, while Andrés discusses the findings of the recent IIF Report, "Modernization and Simplification — Revamping the Global Banking Regulatory Framework" - underscoring how overlapping constraints and diverging national interpretations create unnecessary friction for banks operating across borders. The discussion also turns to the ongoing debate over central bank independence, an issue increasingly intertwined with the regulatory modernization agenda. They examine how these debates differ across jurisdictions, how they may influence regulatory decision‑making, and why a credible, independent regulatory framework remains essential for market confidence. In addition, the conversation assesses the role of global standard setters, including the Financial Stability Board and the Basel Committee, in helping ensure consistency as countries revise their approaches at different paces. Clay and his guests discuss why maintaining coherence across borders is critical, even as national politics, growth priorities, and competitive pressures pull policymakers in different directions. This IIF Podcast was hosted by Clay Lowery, Executive Vice President, Research and Policy, with production and research contributions from Christian Klein, Digital Graphics and Production Associate and Miranda Silverman, Senior Program Assistant.

We're thrilled to announce the latest episode of The Aquest Podcast is ready!

A Future of Finance interview with Alexandre Kech, CEO of GLEIF.There are two main obstacles to the scaling of the markets in digital assets and one of them is the lack of interoperability between blockchain networks and between blockchain networks and traditional financial markets. The default answer, hallowed by history in multiple industries, is standards. By enabling different networks to exchange data, they multiply the overall volume of counterparties and transactions. Unfortunately, attempts to achieve interoperability standards in digital assets suffer from limited usage and winner-takes-all proprietorial schemes, condemning most market participants to deploy risky or clumsy workarounds. So it is significant that the Global Legal Entity Identifier Foundation (GLEIF), set up by the Financial Stability Board in 2014 to overcome a major accelerant of the Great Financial Crisis of 2007 to 2009 – namely, the lack of a trusted counterparty identification standard on a global scale – has broadened its work to encompass digital assets. Dominic Hobson, co-founder of Future of Finance, spoke to Alex Kech, CEO of GLEIF. Hosted on Acast. See acast.com/privacy for more information.

Of het nu komt door het geslijm van Mark Rutte of het logeerpartijtje bij het koningspaar, Trump is uitgerust en relaxt teruggekeerd naar de Verenigde Staten. Zo rustig dat hij ineens mild is met zijn eigen tarievenoorlog. Die deadline voor het bereiken van een deal? Die is ineens niet meer zo heilig.Vandaag werd er een voorlopige deal gesloten met China, maar er moeten nog tientallen deals worden gesloten. De deadline lag op 9 juli, maar nu blijkt de Amerikaanse regering ineens flexibel met die gevreesde deadline. Wat betekent dat voor al die landen die nog wachten op een akkoord? We bespreken het deze aflevering. Je hoort waarom Bob Homan vreest voor volatiliteit op de beurzen. Wat we ook bespreken is Nike. Dat ziet de verkopen instorten. Geen zorgen, want vanaf nu wordt het beter. Dat belooft de nieuwe topman van Nike, Elliott Hill. En beleggers geloven hem, want de beurskoers stijgt enorm. Enorm blij is de baas van softwarebedrijf Salesforce. Hij vertelt dat kunstmatige intelligentie '30 tot 50 procent' van het werk doet. Een schouderklopje geeft 'ie aan zichzelf en kroont zich even tot Taylor Swift van de techwereld. Over tech gesproken: Apple gaat zijn lucratieve App Store op de schop gooien. Allemaal om Brussel tevreden te houden (en een boete van een half miljard te ontlopen). Het is wel een aanpassing die ze uiteindelijk veel meer kan kosten... See omnystudio.com/listener for privacy information.

Of het nu komt door het geslijm van Mark Rutte of het logeerpartijtje bij het koningspaar, Trump is uitgerust en relaxt teruggekeerd naar de Verenigde Staten. Zo rustig dat hij ineens mild is met zijn eigen tarievenoorlog. Die deadline voor het bereiken van een deal? Die is ineens niet meer zo heilig.Vandaag werd er een voorlopige deal gesloten met China, maar er moeten nog tientallen deals worden gesloten. De deadline lag op 9 juli, maar nu blijkt de Amerikaanse regering ineens flexibel met die gevreesde deadline. Wat betekent dat voor al die landen die nog wachten op een akkoord? We bespreken het deze aflevering. Je hoort waarom Bob Homan vreest voor volatiliteit op de beurzen. Wat we ook bespreken is Nike. Dat ziet de verkopen instorten. Geen zorgen, want vanaf nu wordt het beter. Dat belooft de nieuwe topman van Nike, Elliott Hill. En beleggers geloven hem, want de beurskoers stijgt enorm. Enorm blij is de baas van softwarebedrijf Salesforce. Hij vertelt dat kunstmatige intelligentie '30 tot 50 procent' van het werk doet. Een schouderklopje geeft 'ie aan zichzelf en kroont zich even tot Taylor Swift van de techwereld. Over tech gesproken: Apple gaat zijn lucratieve App Store op de schop gooien. Allemaal om Brussel tevreden te houden (en een boete van een half miljard te ontlopen). Het is wel een aanpassing die ze uiteindelijk veel meer kan kosten... See omnystudio.com/listener for privacy information.

Irene Rey, Associate Director, MPRP, ICMA, discusses AMIC's response to the Financial Stability Board's consultation report on addressing financial stability risks arising from leverage in Non-Bank Financial Intermediation.

Klaas Knot, president van De Nederlandsche Bank, waarschuwt bij het IMF dat de regels voor financiële instellingen niet te veel versoepeld moeten worden. Eerder wilden Amerikaanse toezichthouders juist strengere regels opstellen voor banken, maar werden die strenge regels toch weer afgezwakt na een succesvolle lobby van de financiële sector. Knot – ook voorzitter van de Financial Stability Board – ziet ook in Europa tekenen dat de financiële teugels worden gevierd. Zo riepen Frankrijk, Duitsland en Italië onlangs op om terughoudend te zijn met financiële regelgeving.

Klaas Knot, president van De Nederlandsche Bank, waarschuwt bij het IMF dat de regels voor financiële instellingen niet te veel versoepeld moeten worden. Eerder wilden Amerikaanse toezichthouders juist strengere regels opstellen voor banken, maar werden die strenge regels toch weer afgezwakt na een succesvolle lobby van de financiële sector. Knot – ook voorzitter van de Financial Stability Board – ziet ook in Europa tekenen dat de financiële teugels worden gevierd. Zo riepen Frankrijk, Duitsland en Italië onlangs op om terughoudend te zijn met financiële regelgeving. Vrijwel de voltallige oppositie in de Tweede Kamer wil dat Nederland de ‘ereschuld' inlost en de Afghaanse beveiligers die ooit voor Nederland werkten, ophaalt uit Afghanistan. ‘Het zijn mensen die voor onze veiligheid, onze ambassade en onze militairen veilig hebben gehouden', zegt CDA-Kamerlid Derk Boswijk. Maar coalitiepartijen PVV, VVD, NSC en BBB vormen een gezamenlijk front tegen de komst van de beveiligers tijdens het debat dat vandaag in de Kamer gaat plaatsvinden. See omnystudio.com/listener for privacy information.

Onze gast deze week is Petra Hielkema, Voorzitter van de European Insurance and Occupational Pensions Authority (EIOPA).    Petra heeft een Europese Master in Recht & Economie en een Master in Ruslandkunde. Ze begon haar carrière als Juridisch Assistent bij Pepper, Hamilton & Scheetz in Kazachstan, en werkte daarna als Senior Consultant bij PWC in Kazachstan. Vervolgens was ze Senior Expert bij het Secretariaat voor Buitenlandse Investeringen van de President van de Kirgizische Republiek. Na een jaar als zelfstandig consultant en vertaler, trad Petra in februari 2007 in dienst bij De Nederlandsche Bank (DNB) als beleidsadviseur. In 2013 werd ze benoemd tot Hoofd Verzekeringsbeleid en in 2015 tot Hoofd van het Expertisecentrum Fit & Proper, waar ze toezicht hield op bestuurders in de financiële sector. In februari 2017 werd ze Directeur Betalingsverkeer en Marktinfrastructuren bij DNB.  Voor haar benoeming als voorzitter van EIOPA bekleedde Petra de rol van plaatsvervangend lid van de Raad van Toezicht van EIOPA en was zij voorzitter van het EIOPA Beleidscomité. Petra heeft meerdere internationale nevenfuncties vervuld, waaronder lid van de Financial Stability Board, het Basel Committee on Banking Supervision BIS, en de ECB Market Infrastructure Board. Doordeweeks woont Petra in Frankfurt en reist de members states af.   Petra Hielkema is 51 jaar, getrouwd, heeft drie kinderen en woont in Arnhem.     *** Op de hoogte blijven van Leaders in Finance? Abonneer je dan op de nieuwsbrief.    ***  Leaders in Finance wordt mede mogelijk gemaakt door EY, MeDirect, RiskQuest, Kayak en Roland Berger.     ***  Vragen, suggesties of feedback? Graag! Via email: info@leadersinfinance.nl en check de website leadersinfinance.nl   *** Eerdere gasten bij de Leaders in Finance podcast waren onder andere: Klaas Knot (President DNB), Robert Swaak (CEO ABN AMRO), Frank Elderson (directie ECB), David Knibbe (CEO NN), Janine Vos (RvB Rabobank), Bianca Tetteroo (CEO Achmea), Jos Baeten (CEO ASR), Nadine Klokke (CEO Knab), Gita Salden (CEO BNG Bank),  Annerie Vreugdenhil (CIO ING), Karien van Gennip (CEO VGZ), Maarten Edixhoven (CEO Van Lanschot Kempen), Jeroen Rijpkema (CEO Triodos), Chantal Vergouw (CEO Interpolis), Geert Lippens (CEO BNP Paribas NL), Simone Huis in 't Veld (CEO Euronext), Nout Wellink (ex DNB), Onno Ruding (ex minister van financiën), Maurice Oostendorp en Martijn Gribnau (CEOs Volksbank), Yoram Schwarz (CEO Movir), Laura van Geest (Bestuursvoorzitter AFM) Katja Kok (CEO Van Lanschot CH), Ali Niknam (CEO bunq), Nick Bortot (CEO BUX), Petri Hofsté (Commissaris, o.a.  Rabobank en Achmea), Peter Paul de Vries (CEO Value8), Barbara Baarsma (CEO Rabo Carbon Bank), Jan van Rutte (Commissaris PGGM, BNG Bank, vml CFO ABN AMRO), Marguerite Soeteman-Reijnen (Chair Aon Holdings), Annemarie Jorritsma (o.a. Voorzitter NVP), Lidwin van Velden (CEO Waterschapsbank), Don Ginsel (CEO Holland Fintech), Jan-Willem van der Schoot (CEO Mastercard NL), Tjeerd Bosklopper (CEO NN NL), Joanne Kellermann (Chair PFZW), Steven Maijoor (Chair ESMA), Radboud Vlaar (CEO Finch Capital), Karin van Baardwijk (CEO Robeco) en Annette Mosman (CEO APG). --> tussen haakjes de functie ten tijde van het interview

Klaas Knot, Chair of the Financial Stability Board, President of De Nederlandsche Bank, and member of the ECB Governing Council, and Lesetja Kganyago, Governor of the South African Reserve Bank, discuss the challenges facing the international financial system at the ECB Forum on Central Banking in Sintra, Portugal. Published on 6 July 2024 and recorded on 3 July 2024. 2024 ECB Forum on Central Banking https://www.ecb.europa.eu/press/conferences/ecbforum/html/index.en.html The ECB Podcast: The road ahead: is there room for optimism? https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod240627_episode86.en.html The ECB Podcast: Financial Stability in a ChatGPT world https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod240517_episode84.en.html European Central Bank https://www.ecb.europa.eu/home/html/index.en.html European Banking Supervision https://www.bankingsupervision.europa.eu/home/html/index.en.html

Der Bundesrat hat am Mittwoch dargelegt, wie er die Banken und insbesondere die UBS künftig regulieren will. Das geht nicht nur die Schweiz etwas an. Denn die UBS zählt laut den Experten des «Financial Stability Board» zum kleinen Kreis der 29 global systemrelevanten Banken. SMI: -0.1%

Speaker: Elisa Cencig (Norges Bank Investment Management)Cambridge 3CL invites you to a seminar on the responsible investment strategies of Norges Bank Investment Management (NBIM), the entity responsible for managing Norway's government pension fund, valued at over 1 trillion US dollars. Operating in over 70 countries, NBIM is at the forefront of shaping sustainable and fair market practices globally. This session will delve into NBIM's role in policy-making and standard setting, highlighting its commitment to responsible stewardship.The focus will be on NBIM's active investment approach across various levels - from market-wide initiatives to individual company engagements. NBIM works to ensure long-term growth in its investments while minimizing environmental and societal harm, through direct company engagement, goal setting, and strategic voting at shareholder meetings. Key topics like climate change action, responsible AI practices, and CEO compensation will be discussed, showcasing NBIM's dedication to guiding global investments towards ethical and sustainable outcomes.Leading this session is Elisa Cencig, Senior ESG Policy Advisor at NBIM. Her expertise will provide a comprehensive view into how a major global investor like NBIM navigates the complexities of responsible investment.Biography: Elisa is Senior ESG Policy Advisor at Norges Bank Investment Management, where she is responsible for the fund's engagement with international organisations, standard-setters and policymakers on sustainability, responsible investment and corporate governance. Prior to that, she worked at the UK Financial Authority, first on EU Withdrawal Policy and Strategy and more recently leading the FCA's engagement at the Financial Stability Board. Earlier in her career, she worked at the Association of Financial Markets in Europe's Brussels office on prudential and resolution policy and advocacy. She is an alumna of the Sant'Anna School of Advanced Studies in Pisa (Italy) and the College of Europe (Belgium) and holds a PhD in Political Science from the London School of Economics.3CL runs the 3CL Travers Smith Lunchtime Seminar Series, featuring leading academics from the Faculty, and high-profile practitioners.For more information see the Centre for Corporate and Commercial Law website:http://www.3cl.law.cam.ac.uk/

Speaker: Elisa Cencig (Norges Bank Investment Management)Cambridge 3CL invites you to a seminar on the responsible investment strategies of Norges Bank Investment Management (NBIM), the entity responsible for managing Norway's government pension fund, valued at over 1 trillion US dollars. Operating in over 70 countries, NBIM is at the forefront of shaping sustainable and fair market practices globally. This session will delve into NBIM's role in policy-making and standard setting, highlighting its commitment to responsible stewardship.The focus will be on NBIM's active investment approach across various levels - from market-wide initiatives to individual company engagements. NBIM works to ensure long-term growth in its investments while minimizing environmental and societal harm, through direct company engagement, goal setting, and strategic voting at shareholder meetings. Key topics like climate change action, responsible AI practices, and CEO compensation will be discussed, showcasing NBIM's dedication to guiding global investments towards ethical and sustainable outcomes.Leading this session is Elisa Cencig, Senior ESG Policy Advisor at NBIM. Her expertise will provide a comprehensive view into how a major global investor like NBIM navigates the complexities of responsible investment.Biography: Elisa is Senior ESG Policy Advisor at Norges Bank Investment Management, where she is responsible for the fund's engagement with international organisations, standard-setters and policymakers on sustainability, responsible investment and corporate governance. Prior to that, she worked at the UK Financial Authority, first on EU Withdrawal Policy and Strategy and more recently leading the FCA's engagement at the Financial Stability Board. Earlier in her career, she worked at the Association of Financial Markets in Europe's Brussels office on prudential and resolution policy and advocacy. She is an alumna of the Sant'Anna School of Advanced Studies in Pisa (Italy) and the College of Europe (Belgium) and holds a PhD in Political Science from the London School of Economics.3CL runs the 3CL Travers Smith Lunchtime Seminar Series, featuring leading academics from the Faculty, and high-profile practitioners.For more information see the Centre for Corporate and Commercial Law website:http://www.3cl.law.cam.ac.uk/

Lecture summary: This lecture considers what Josef Kunz termed “swings of the pendulum” in international monetary and financial law and the formal and informal institutions in these related fields. International monetary law exploded in importance after the Second World War with the creation of the International Monetary Fund (IMF) and a global system of managed exchange rates. With the collapse of the Bretton Woods system in 1971 and a decline in capital controls, the IMF evolved from a dominant institution into a peer of central banks and private markets, providing surveillance of the “non-system” of floating exchange rates and assisting in responses to financial crises.By contrast, international financial law, which was of limited importance during the Bretton Woods era, has become a major soft law force in the global financial sector since the Basel Committee on Banking Supervision was created in 1974. The dichotomy between profit maximization and systemic risk at the core of global finance today is overseen and guided by the technocrats of the Basel Committee, the Financial Stability Board and other institutions of international financial law.Today, the pendulums of international monetary and financial law may be reversing again. Armed conflict, rising authoritarianism, growing fragmentation of the global financial system, and a revival of capital controls and other restrictions on capital flows could reinvigorate international monetary law and the IMF. This institution has reimagined itself multiple times already while staying true to its original mandate of safeguarding monetary stability.Michael Waibel is a professor of international law at the University of Vienna. His teaching and writing focus on international law, international economic law, sovereign debt and international dispute settlement. He received the Deák Prize of the American Society of International Law, the Book Prize of the European Society of International Law and a Leverhulme Prize for his research. He is Co-General Editor of the ICSID Reports (with Jorge Viñuales) and Co-Editor-in-Chief of the Journal of International Economic Law (with Kathleen Claussen and Sergio Puig).

Lecture summary: This lecture considers what Josef Kunz termed “swings of the pendulum” in international monetary and financial law and the formal and informal institutions in these related fields. International monetary law exploded in importance after the Second World War with the creation of the International Monetary Fund (IMF) and a global system of managed exchange rates. With the collapse of the Bretton Woods system in 1971 and a decline in capital controls, the IMF evolved from a dominant institution into a peer of central banks and private markets, providing surveillance of the “non-system” of floating exchange rates and assisting in responses to financial crises.By contrast, international financial law, which was of limited importance during the Bretton Woods era, has become a major soft law force in the global financial sector since the Basel Committee on Banking Supervision was created in 1974. The dichotomy between profit maximization and systemic risk at the core of global finance today is overseen and guided by the technocrats of the Basel Committee, the Financial Stability Board and other institutions of international financial law.Today, the pendulums of international monetary and financial law may be reversing again. Armed conflict, rising authoritarianism, growing fragmentation of the global financial system, and a revival of capital controls and other restrictions on capital flows could reinvigorate international monetary law and the IMF. This institution has reimagined itself multiple times already while staying true to its original mandate of safeguarding monetary stability.Michael Waibel is a professor of international law at the University of Vienna. His teaching and writing focus on international law, international economic law, sovereign debt and international dispute settlement. He received the Deák Prize of the American Society of International Law, the Book Prize of the European Society of International Law and a Leverhulme Prize for his research. He is Co-General Editor of the ICSID Reports (with Jorge Viñuales) and Co-Editor-in-Chief of the Journal of International Economic Law (with Kathleen Claussen and Sergio Puig).

Lecture summary: This lecture considers what Josef Kunz termed “swings of the pendulum” in international monetary and financial law and the formal and informal institutions in these related fields. International monetary law exploded in importance after the Second World War with the creation of the International Monetary Fund (IMF) and a global system of managed exchange rates. With the collapse of the Bretton Woods system in 1971 and a decline in capital controls, the IMF evolved from a dominant institution into a peer of central banks and private markets, providing surveillance of the “non-system” of floating exchange rates and assisting in responses to financial crises.By contrast, international financial law, which was of limited importance during the Bretton Woods era, has become a major soft law force in the global financial sector since the Basel Committee on Banking Supervision was created in 1974. The dichotomy between profit maximization and systemic risk at the core of global finance today is overseen and guided by the technocrats of the Basel Committee, the Financial Stability Board and other institutions of international financial law.Today, the pendulums of international monetary and financial law may be reversing again. Armed conflict, rising authoritarianism, growing fragmentation of the global financial system, and a revival of capital controls and other restrictions on capital flows could reinvigorate international monetary law and the IMF. This institution has reimagined itself multiple times already while staying true to its original mandate of safeguarding monetary stability.Michael Waibel is a professor of international law at the University of Vienna. His teaching and writing focus on international law, international economic law, sovereign debt and international dispute settlement. He received the Deák Prize of the American Society of International Law, the Book Prize of the European Society of International Law and a Leverhulme Prize for his research. He is Co-General Editor of the ICSID Reports (with Jorge Viñuales) and Co-Editor-in-Chief of the Journal of International Economic Law (with Kathleen Claussen and Sergio Puig).

Our expert hosts, Benjamin Ensor and Ross Gallagher, are joined by some great guests to talk about the most notable fintech, financial services and banking news from the past week.  This week's guests include: Amelia Isaacs, Senior Reporter at AltFi Rachel Pandyan, Ventures Product Lead at 11:FS We cover the following stories from the fintech and financial services space: Revolut launch Mobile Wallets (03:40) The Financial Stability Board could recommend new measures to limit the impact of social media on bank runs (16:16) Italy's Objectway acquire Canadian wealthtech Newst Wealth (28:35) Moody's Analytics taps Numerated for automated loan process (34:45) Comic Relief extends partnership with GoCardless to accept donations year round (44:45) Apple Pay finally open up NFC chip access to third parties after EU investigation (45:52) A retired teacher has her pension halted as her provider refuses to believe she is not dead (47:52) --------------------------------------- Fintech Insider by 11:FS is a bi-weekly podcast dedicated to all things finance, banking, technology, and financial services.  Our expert hosts, with real industry experience, are joined by the biggest decision-makers, VCs, and reporters from across financial services including guests from Visa, Nubank, M-Pesa, AltFi, Starling, and JP Morgan Chase to discuss the latest news, developments, and trends within the industry. Our weekly news show drops every Monday and tackles the biggest news stories, from acquisitions and launches, to regulatory changes and innovation. Then, every Friday our Insights show dives deeper into the hottest topics shaping the industry like web3 and BNPL. Whether you're already immersed in the world of financial services, or just keen to learn more, this is the #1 podcast for you. If you enjoyed this episode, don't forget to **subscribe** and **please leave a review** Follow us on **Twitter**: @fintechinsiders where you can ask the hosts questions, or **email** podcasts@11fs.com!

The Inside Economics team revels in the great economic numbers of the past week. The economy not only avoided a recession in 2023, but it ended the year enjoying robust GDP growth and tame inflation. But there are threats at the start of the new year, including a potential seizing up of the all-important Treasury bond market. Samim Ghamami of the SEC joins the podcast to discuss this threat, its causes and implications, and potential reforms to ensure it doesn't upend financial markets and the economy.  Today's guest Samim Ghamami is currently an economist at the U.S. Securities and Exchange Commission, where he works with the SEC senior management on the reform of the US Treasury market and several other capital market initiatives. Ghamami is also a senior researcher and an adjunct professor of finance at New York University, a senior researcher at UC Berkeley Center for Risk Management Research and the Department of Economics, and a senior advisor at SOFR Academy. Ghamami has been a senior economist and a senior vice president at Goldman Sachs. He has been an adjunct associate professor of economics at Columbia University. Ghamami has also been an associate director and a senior economist at the U.S. Department of the Treasury, Office of Financial Research, and an economist at the Board of Governors of the Federal Reserve System.Ghamami's work has broadly focused on the interplay of finance and macroeconomics, and on financial economics and quantitative finance. His work on banking, asset management, risk management, economic policy, financial stability, financial regulation, and central clearing has been presented and discussed at central banks. He has been an advisor to the Bank for International Settlements and worked as an expert with the Financial Stability Board on post-financial crisis reforms in 2016 and 2017. Ghamami also served on the National Science Foundation panel on Financial Mathematics in 2017 and 2018. Ghamami received his Ph.D. in Mathematical Finance and Operations Research from USC in 2009. His publications have appeared in different journals including Management Science, Journal of Applied Probability, Mathematics of Operations Research, Journal of Financial Intermediation, Journal of Credit Risk, Journal of Derivatives, Quantitative Finance, and Journal of Risk. Follow Mark Zandi @MarkZandi, Cris deRitis @MiddleWayEcon, and Marisa DiNatale on LinkedIn for additional insight.

Messaging tools are much needed not just between individuals like you and me, but also between banks and financial institutions to support global and local financial flows, as well as trade and commerce all around the world.  Founded in 1973, our guest Swift is a global member-owned cooperative and also the world's leading provider of financial messaging services.  While it does not hold funds or manage accounts on behalf of customers, Swift enables its community of users to communicate securely and exchange standardised financial messages in a reliable way.  So far, its platform, products and services connect over 11,500 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories.  The cooperative reported that close to 90% (89%) of cross-border transactions processed on its network reached recipient banks within an hour, ahead of speed targets set out by the Financial Stability Board. How is that achieved and what does it mean for Swift looking ahead?  Meanwhile, Swift also developed a Central Bank Digital Currency solution that interlinks CBDC networks and existing payment systems for cross-border transactions. But what wider implications will this have on the financial industry? On Under the Radar, The Evening Runway's finance presenter Chua Tian Tian posed these questions to Sharon Toh, Head of ASEAN Region, Swift.See omnystudio.com/listener for privacy information.

Crypto regulation was a key agenda of the G20 summit. While regulations and a framework have yet to be finalized, consensus emerged that a blanket ban was not feasible. The joint declaration noted that the G20 will continue to “closely monitor the risks of the fast-paced developments in the cryptoasset ecosystem,” and the leaders endorsed the Financial Stability Board's (FSB's) “high-level recommendations for the regulation, supervision, and oversight of crypto-assets activities and markets and of global stablecoin arrangements.”The panel discussed:macro financial consequences,regulatory aspects,cross-border framework and cooperation; andsupervisory implications.Panelists:William C. Dudley, Chair, Bretton Woods Committee (BWC); Former President and CEO, Federal Reserve Bank of New YorkNezha Hayat, Chairperson and Chief Executive Officer, Moroccan Capital Market Authority (AMMC)Stefan Ingves, Chair, Toronto Centre; Former Governor, Sveriges Riksbank (Central Bank of Sweden)Olivier Fines, Head, Advocacy and Capital Markets Policy Research for EMEA, CFA InstituteModerator:Marina Moretti, Deputy Director, Monetary and Capital Markets, International Monetary Fund (IMF)Read the transcript here. Read their biographies here.

NOTE| This episode is longer than usual--> ‘Top of The Game (in) Overtime' are released occasionally. RANDY'S BIO Randy knows more about finance, banking, private equity, fintech, and economic policy than just about everyone in the world. This talk is a master class that touches on all of these subjects, especially the changing role of banks in the world economy and its intersection with technology..  He is a private equity investor and past practicing attorney who served as the first ever Vice Chair of the Federal Reserve for supervision from 2017 to 2021 under Presidents Trump and Biden. Randy also concurrently served as the chair of the Financial Stability Board from 2018 to 2021.  He has held several consequential financial policy posts over his career, including during the George W. Bush administration when he ultimately served as Under Secretary of the Treasury for Domestic Finance. After leaving the Bush administration, he became the founder and head of The Cynosure Group, a private investment firm, preceded by being a managing director of The Carlyle Group, one of the world's largest private equity firms.  Since the early 2010's he has been widely mentioned as a possible Treasury Secretary or senior White House adviser in Republican administrations. His extensive financial policy experience started in the early 1990's serving as Deputy Assistant Secretary for Financial Institutions Policy during the George H.W. Bush administration under the thenSecretary of Treasury, Nicholas Brady. Early in his career and after receiving his law degree from Yale, Quarles worked Wall Street law firm of Davis Polk & Wardwell where he specialized in financial institutions law, eventually becoming co-head of the firm's Financial Institutions Group and advising on transactions that included a number of the largest financial sector mergers ever completed. “Dodd-Frank's intent was not to avoid bank failures, it was designed so that any bank could fail and not become systemic... we tested this earlier this year.”  EPISODE OUTLINE (0:00) - Intro (0:38) - Background (01:36) - The early years (02:47) - Lessons that stick; young lawyer sticking to his guns, difficult, scary (06:42) - Financial policy at the highest level; conviction, seeking input, synthesizing  (09:11) - Top bank supervisor in America; tradeoffs--> tech, safety, the real economy (13:30) - Bank failures in 2023; safeguards, speed, liquidity--> $140 billion

Yves Mersch, a former governor of the Central Bank of Luxembourg and member of the executive board of the European Central Bank (ECB), recently shared his valuable insights on the world of cryptocurrency, its regulation, and the distinct significance of Bitcoin SV. In a candid conversation with Charles Miller on CoinGeek Conversations, Yves provided clarity on these complex topics in a straightforward yet insightful manner. The Role of Central BanksYves began by emphasizing the important role of central banks in safeguarding a nation's currency. He stated, "as a regulator, the ECB has a mandate to defend a currency which is supposed to be stable." Central banks like the ECB are entrusted with the responsibility of ensuring the stability of their respective currencies and facilitating secure and efficient payment systems. Embracing Technological InnovationIn the realm of financial innovation, Yves highlighted the positive stance of central banks. He explained, "the ECB has always considered innovation in the financial area as something positive because the ECB is supposed to work in a functioning market economy." The pursuit of technological advancement to enhance competitiveness and support economic growth has been a consistent focus for central banks. Balancing Innovation and RiskYves pointed out that any financial innovation, including cryptocurrencies, is subject to careful scrutiny. "ECB has all the ways to analyze what are the potential benefits for society at large and for the institution, and what are the risks that come with these benefits." Central banks must assess the potential benefits to society and the institution against the associated risks. Unique Risks in the Crypto WorldYves noted the distinctive risks posed by the crypto world. He stated, "you rely on the technology which is highly decentralized and where you have risks which are also risks that you find in the traditional financial world." Additionally, the crypto world introduces governance risks due to its lack of a clear liability structure. These governance issues add to the traditional financial risks inherent in any financial instrument. Challenges in Global RegulationAddressing the subject of global cryptocurrency regulation, Yves acknowledged the problems, saying, "unfortunately, this is very difficult." He explained that international bodies like the Financial Stability Board, G20, and others issue recommendations rather than binding regulations. Jurisdictions are encouraged to implement these recommendations in their national legislation but achieving a universal, comprehensive regulatory framework remains challenging. Systemic Risks Posed by Tech CompaniesYves delved into the potential risks of major tech companies launching successful cryptocurrencies. He noted that these entities, due to their substantial customer bases, could influence monetary policy through their stablecoins. "That could distort the monetary policy transmission mechanism," Yves cautioned. Without direct access to central banks, these companies would rely on intermediaries for liquidity, potentially disrupting monetary transmission. Role of CBDCsThe topic of Central Bank Digital Currencies (CBDCs) also came up in the conversation. Yves clarified that CBDCs are designed to complement existing financial instruments rather than replace them. They aim to provide central banks with a digital presence while retaining the fundamental attributes of cash in a digital form. The Bitcoin SV DistinctionIn the midst of this insightful conversation, Bitcoin SV emerged as a prominent player. Yves Mersch's perspective sheds light on the unique attributes that make Bitcoin SV stand out in the ever-expanding world of cryptoc

Die Schweizer Regierung will auf Anraten eines internationalen Gremiums ein permanentes Auffangnetz spannen für die Banken – im Jargon bekannt als Public Liquidity Backstop. In der Schweizer Politik kommt die Idee einer staatlichen Liquiditätssicherung für die Banken nicht gut an. | Was will der Bundesrat genau? Was spricht für den Public Liquidity Backstop – und was dagegen? Und wie hängt der Vorschlag des Bundesrats zusammen mit den Eigenkapitalvorschriften der Banken? | Stichworte: Public Liquidity Backstop, PLB, staatliche Liquiditätssicherung, Banken, Bankenregulierung, Credit Suisse, UBS, Eigenkapital, Bundesrat, Financial Stability Board.

Een wereldwijd cryptoverbod gaat er niet komen. Tenminste, als het aan het Internationaal Monetair Fonds en de Financial Stability Board ligt. De twee organisaties schrijven dat in een nieuw rapport ter gelegenheid van de G20-top in India. Uiteraard pleiten zij wel voor andere regelgeving. En met de AI-hype in de reguliere techwereld kwamen natuurlijk ook allerlei AI-munten op. Hoe hebben die het dit jaar gedaan?  Gasten Sebastiaan van Erne Daniël Mol Links Crypto verbieden werkt niet, zeggen IMF en FSB India denkt na over cryptoregels AI-munten doen het slecht Host Herbert Blankesteijn Redactie Daniël MolSee omnystudio.com/listener for privacy information.

Het parlementaire jaar is officieel begonnen. Na een lang zomerreces kan de Tweede Kamer direct aan de bak. Het parlement moet deze week bespreken waarmee het demissionaire kabinet wel of niet verder kan. We blikken vooruit op het nieuwe politieke jaar met politiek verslaggever Leendert Beekman, ondertussen is collega Mats Akkerman bij VOLT, dat vandaag zijn conceptverkiezingsprogramma presenteert.  Ander nieuws uit The Daily Move: Big Bazar krijgt opnieuw extra tijd om met schuldeisers tot een akkoord te komen. De koopjesketen rekende zelf op een faillissement. Maar de ondernemingsraad kwam vanochtend op de valreep met een nieuw idee om de keten te redden. De G20-landen moeten alert zijn op problemen bij het aflossen van leningen, vindt DNB-president Klaas Knot. Hij schrijft dat in een brief aan de leiders van de G20-landen, in zijn hoedanigheid als voorzitter van de Financial Stability Board. De stijgende rentes en zwakkere groei van de wereldeconomie zorgen namelijk voor een uitdagend economisch klimaat. Kim Jong Un gaat later deze maand naar Rusland, om te praten met Poetin. Noord-Korea gaat waarschijnlijk wapens sturen naar Rusland, maar hoogleraar Koreastudies Remco Breuker van de Universiteit Leiden verwacht dat het land ook militairen gaat leveren.  See omnystudio.com/listener for privacy information.

Beth Haddock and Lewis Cohen are Co-Chairs of the Web3 Subcommittee of the City Bar Task Force on Digital Technologies, and they're experts in the world of Web3, decentralized finance (DeFi), blockchain and cryptocurrency technologies. They helped us understand how the world of decentralized technologies is taking shape, what problems are being discussed and discovered by innovators, and where we stand to benefit from future breakthroughs. Tune in to hear about: • Takeaways for lawyers from two recent, major reports of the international Financial Stability Board. What lawyers could use in their practice and what they should think about when they think of developments in Web3. • What is DeFi (decentralized finance) and what are DAOs (decentralized autonomous organizations)? How do we know when a project truly fits into these spaces? • What are the incentives and differences between traditional finance and decentralized finance? • What are the potential benefits of decentralized finance? • What are reliable and reputable resources for people who want to learn more about decentralized finance? Resources FSB Report - https://bityl.co/KOlC US Treasury illicit finance report - https://bityl.co/KOlA DeFi Alliance - https://bityl.co/KOl9 DeFi Education Fund - https://bityl.co/KOl8 Ethereum Foundation - https://bityl.co/KOl7 Vitalik Buterin blog - https://bityl.co/KOl5 Beth and Lewis' Twitters - @HaddockBeth; @NYcryptolawyer

Episode 8: Crypto Facto with Josh Klayman In this episode of Crypto Facto with Josh Klayman, Signum Growth CEO and Founder Angela Dalton returns for a discussion of the Financial Stability Board's latest crypto report, a new digital asset market structure bill, litigation over AI IP rights, the changing tide for NFTs in video games, and an NFT with the potential gamify your life. Listen to Josh's and Angela's hot takes now. To listen to all episodes in this series, visit our Crypto Facto webpage.

Episode 8: Crypto Facto with Josh Klayman In this episode of Crypto Facto with Josh Klayman, Signum Growth CEO and Founder Angela Dalton returns for a discussion of the Financial Stability Board's latest crypto report, a new digital asset market structure bill, litigation over AI IP rights, the changing tide for NFTs in video games, and an NFT with the potential gamify your life. Listen to Josh's and Angela's hot takes now. To listen to all episodes in this series, visit our Crypto Facto webpage.

Stocks continued their recent upswing as investors absorbed a stream of quarterly earnings. The rally in part reflected a positive response to earnings reports from big banks like Bank of America (BAC) and Morgan Stanley (MS). A certain “euphoria” also gripped the markets as fears of recession and inflation eased. Is this positive momentum overblown? “You have to wonder if this euphoria is enough to carry the markets when the earnings are no longer there,” says veteran bank analyst, DICK BOVE. “Because the biggest problem for the banks is the fixed loans they own.” BOVE adds that pundits and some investors are missing the bigger picture on the economy and the banks. This includes the underlying reality of JP Morgan's reported record profit and its earnings per share (EPS) buoyed by its recent acquisition of First Republic Bank's assets in a government-sponsored deal. “We're not out of the banking crisis,” says BOVE, chief financial strategist at ODEON CAPITAL GROUP.  “The big banks have lost profits.” Despite Treasury Secretary, JANET YELLEN, tamping down worries of an imminent recession—and economists dialing back the risks of a slowdown—the US and global economy may have entered its most uncertain phase in months. MAT VAN ALSTYNE, ODEON co-founder and managing partner, says many are ignoring an important indicator. That's the government bond market, which is signaling recession, he says. Moreover, US tax receipts are down, 20 percent year-on-year, another negative recessionary indicator. Piling on the debt burden, JOHN AIDAN BYRNE, notes the US national debt has soared by $1 trillion since  the debt ceiling was lifted, much of that reflecting a catch up on stalled payments during the debt ceiling standoff. Still, total outstanding public debt has now reached $32.5 trillion. Elsewhere, the CONVERSATION examines the rise of “non-bank” lenders, a sector competing with traditional banks that includes  some pension funds, insurers, mutual funds, hedge funds and other institutions. According to the Financial Stability Board, these “non-banks” had $239 trillion on their books in 2021. “The risk of loan losses in this sector if staggering,” according to BOVE. Meanwhile, a surge in home equity lending is coming, says BOVE, as US homeowners tapped into the rising equity in their homes. Watch the ODEON CAPITAL CONVERSATIONS Live Webinar Thursday, July 27, 11:00AM ET, hosted by Geeks Geezers & Googlization on LinkedIn and YouTube. Questions & More Information: Podcast@OdeonCap.com     

Australia's proposed climate disclosure law   The Australian government has proposed a new law to enhance climate-related financial disclosures from companies and other entities operating in the country. Drawing from the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), the proposed legislation intends to provide investors and stakeholders with reliable information about the financial risks and opportunities associated with climate change. It is part of the government's broader efforts to address climate change, foster sustainable economic growth, and safeguard the interests of investors and the broader financial system. The law will likely apply to larger entities, including listed companies, banks, insurers, and superannuation funds, but would also impact smaller companies over three years.  Key features of the reporting requirements: Precise climate-related financial disclosures in annual reports.Information on the financial impact of climate-related risks and opportunities on business activities.Disclosure of relevant metrics and targets related to climate-related risks. Entities are encouraged to conduct scenario analyses to assess the potential financial impacts of various climate change scenarios. Companies must also disclose information about governance processes, controls, and procedures for managing climate-related risks and opportunities. External assurance of climate-related financial disclosures is also on the table and would enhance credibility and reliability.  The Australian government plans to phase the proposed law to allow entities time to meet the new requirements. Still, the writing is on the wall: Australia acknowledges the need for globally consistent climate-related financial disclosures. The law aims to promote cross-border consistency and reduce regulatory fragmentation by considering global reporting standards like those developed by the International Sustainability Standards Board (ISSB). ISSB 's new sustainability disclosure standards  The International Sustainability Standards Board (ISSB) has introduced two new disclosure standards, IFRS S1, and IFRS S2. The two finalized standards aim to establish a global benchmark for sustainability-related disclosures for capital markets.  IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) centers around disclosing sustainability-related risks and opportunities across the short-, medium-, and long-term to facilitate better investor decision-making. Conversely, IFRS S2 (Climate-related Disclosures) details specific climate-related disclosures and is meant to work in tandem with IFRS S1. Both standards draw from the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and aim to improve the quality of information available to investors and are supported by various global stakeholders, including investors, companies, policymakers, regulators, and international organizations like the IOSCO, the Financial Stability Board, G20, and G7 Leaders. In addition to TCFD recommendations, the ISSB's standards strive to unify and build upon existing sustainability disclosure initiatives like SASB Standards, CDSB Framework, Integrated Reporting Framework, and World Economic Forum metrics. The unification is a boon for companies already leveraging previous sustainability reporting investments because it helps tone down the complexity of multiple reporting frameworks.  In short, these new disclosure standards promote global compatibility for financial markets. Both IFRS S1 and IFRS S2 will become effective for annual reporting periods beginning on or after January 1, 2024.

Lawyer.com Launches Million Dollar AI Challenge to Expand Legal Access.Date: 01 Jun 2023Source: AiThority.com Legal tech firm Casepoint investigates breach after hackers claim theft of government dataDate: 01 Jun 2023Source: Yahoo! News UK and Ireland How Legal Teams Are Deploying AI in Their Contract Management ProcessesDate: 01 Jun 2023Source: LexBlog Beyond the Case Files: Key Areas to Focus on for Law Office Management SuccessDate: 01 Jun 2023Source: News Anyway AI in Legal Research: Navigating Challenges and Embracing OpportunitiesDate: 31 May 2023Source: Seyfarth Shaw The Computer and Internet LawyerDate: 01 Jun 2023Source: Arnold & Porter AI in Law: Don't Blame the Technology for Bad LawyeringDate: 01 Jun 2023Source: Real Lawyers Have Blogs Federal regulators fine Amazon $25 million over child privacy issuesDate: 31 May 2023Source: News Archives - Lewiston Sun Journal Kewei adds top TMT partner Justina Zhang to China joint operation with Herbert Smith Freehills 顶级科技媒体与电信行业律师张卫华加入科伟律师事务所与史密夫斐尔联营办公室Date: 30 May 2023Source: Herbert Smith LLP Robby H. Birnbaum of Greenspoon Marder LLP Receives Robert Linderman Debt Resolution Service Award at AFCC 2023 Spring ConferenceDate: 31 May 2023Source: JDJournal Federal judge: No AI in my courtroom unless a human verifies its accuracyDate: 31 May 2023Source: ArsTechnica Some Law Schools Already Are Using ChatGPT To Teach Legal Research And WritingDate: 31 May 2023Source: TaxProf Blog TechBuzz News: Filevine Unveils AI FieldsDate: 31 May 2023Source: Bollyinside The Value of Law Firm Technology Directors with Sam McAllisterDate: 31 May 2023Source: Law Street Media On LawNext: Live from the CLOC Global Institute: Interviews with 22 of the Legal Tech ExhibitorsDate: 31 May 2023Source: LawSites Harnessing Document Automation for Small Law FirmsDate: 31 May 2023Source: XpressDox Association of Corporate Counsel and Exterro Report Shows Legal Technology Is a Must-Have for In-House Legal DepartmentsDate: 31 May 2023Source: InvestorsObserver 5 Key Takeaways from the 2023 ACC Legal Technology Report Created on May 30, 2023 BY Tim RollinsDate: 31 May 2023Source: Exterro Hogan Lovells launches cross-practice, cross-sector Global AI Trends Guide for 2023Date: 31 May 2023Source: Hogan Lovells Former Reynen Court President Launches Governance Platform for Law Firms to Safely Explore Generative AIDate: 31 May 2023Source: LawSites Law Firm Employees Allegedly Misbehaving Make HeadlinesDate: 31 May 2023Source: Slaw NFT, Metaverse and Corporate Law; the chaos explainedDate: 01 Jun 2023Source: Legaltech on Medium AI & Law: Legal Proximate Cause Upset Via AIDate: 01 Jun 2023Source: Legaltech on Medium Five Ways to Use ChatGPT for Investigations and EdiscoveryDate: 31 May 2023Source: Legaltech on Medium The Revised Colorado AI Insurance Regulations: What Was Fixed, and What Still May Need FixingDate: 31 May 2023Source: Debevoise Data Blog Lessons from The Financial Stability Board's Report on Cyber Incident ReportingDate: 31 May 2023Source: Debevoise Data Blog Women in eDiscovery expands leadership teamDate: 31 May 2023Source: Legal Technology News - Legal IT Professionals | Everything legal technology On the Perils of Hasty DraftingDate: 31 May 2023Source: Legal Planet Nine States Now Have Privacy LawsDate: 31 May 2023Source: Sensei Enterprises, Inc. Streamlining In-House Legal Intake Process: Four Essential Features for SuccessDate: 30 May 2023Source: MatterSuite By CaseFox Using language models in legal higher educationDate: 31 May 2023Source: TechnoLlama

A strong role for private financing through deep and liquid capital markets will be essential for meeting the EU's economic and social policy objectives. In his address to the IIEA, John Berrigan, Director-General for Financial Stability, Financial Services and Capital Markets Union at the European Commission, outlines the importance of moving ahead on the Capital Markets Union (CMU) and assesses the state of play of the implementation of the CMU Action Plan. Mr Berrigan also discusses associated opportunities and challenges during the remainder of the von der Leyen Commission's term. About the Speaker: John Berrigan is the Director-General in DG FISMA (Directorate-General for Financial Stability, Financial Services and Capital Markets Union) of the European Commission. DG FISMA is responsible for EU-level policy making and legislative initiatives with respect to the financial sector, including Banking Union, Capital Markets Union, sustainable finance, digital finance, anti-money laundering, and sanctions. In this context, John represents the European Commission on the Economic and Financial Committee and the Financial Services Committee, which each report to EU Finance Ministers. John also represents the Commission on the Financial Stability Board, which reports to G20 Finance Ministers. He attends the European Systemic Risk Board and is a permanent observer on the Single Resolution Board.

Hello, and welcome to episode 54 of the Financial Crime Weekly Podcast, I'm your host, Chris Kirkbride. It's been another bumper week for financial crime this week, so my hopes that there would be an ease down in work were short-lived. Lots of news on everything, except for sanctions, with a round-up of cyber-attack news at the end. These are the links to the principal documents mentioned in the podcast: Cooley, Treasury Department Releases Report on Money Laundering Risks, Decentralized Finance.Council of the European Union, Russia's war of aggression against Ukraine: Wagner Group and RIA FAN added to the EU's sanctions list.European Parliament (Committee on Economic and Monetary Affairs, Civil Liberties, Justice and Home Affairs), REPORT on the proposal for a regulation of the European Parliament and of the Council establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism and amending Regulations (EU) No 1093/2010, (EU) 1094/2010, (EU) 1095/2010.Financial Stability Board, Recommendations to Achieve Greater Convergence in Cyber Incident Reporting: Final Report.International Monetary Fund, IMF Executive Board Concludes Review of the Implementation of the Framework for Enhanced Engagement on Governance (press release).International Monetary Fund, Review of Implementation of The 2018 Framework for Enhanced Fund Engagement on Governance.International Monetary Fund, Review of 1997 Guidance Note on Governance - A Proposed Framework for Enhanced Fund Engagement.International Monetary Fund, Good Governance: The IMF's Role.Solicitors' Regulation Authority, Goad & Butcher.UK Department for Work and Pensions, Guidance: Changes in the fraud and error in the benefit system: financial year 2022 to 2023 estimates.UK Financial Conduct Authority, TSB fined £48.65m for operational resilience failings (press notice).UK Financial Conduct Authority, TSB Bank plc (Final Notice).UK Foreign, Commonwealth & Development Office, UK sanctions Abramovich and Usmanov's financial fixers in crackdown on oligarch enablers.UK Government, Policy paper Factsheet: failure to prevent fraud offence.UK Home Office, New crackdown on fraud introduced by the Home Office (press release).UK National Crime Agency, Former Cambridge don who defrauded Government energy grants repays more that £1m.UK Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia (12/04/2023).UK Office of Financial Sanctions Implementation, Financial Sanctions Notice: Russia (13/04/2023).UK Office of Financial Sanctions Implementation, Financial sanctions targets: list of all asset freeze targets (updated).UK Prudential Regulation Authority, PRA fines the former Chief Information Officer of TSB Bank plc for a breach of the PRA's Senior Manager Conduct Rules (press release).UK Prudential Regulation Authority, Carlos Abarca (Final Notice).UK Prudential Regulation Authority, TSB fined £48.65m for operational resilience failings (press release).UK Prudential Regulation Authority, TSB Bank plc (Final Notice).Ukraine Ministry of Defence, The composition of the Public Anticorruption Committee under the Ministry of Defense has been approved.US Department of Justice, Former Executives of Outcome Health Convicted in $1B Corporate Fraud Scheme.US Department of Justice, Restaurateur Sentenced To 57 Months In Prison For Over $6 Million Pandemic Loan Fraud And Interstate Threats.US Department of Justice, All defendants plead guilty in drug trafficking, COVID fraud operation tied to Savannah strip clubs.US Department of Justice, Former Investment Banker and Registered Broker Arrested for Operating Cryptocurrency Investment Fraud Scheme.US Department of Justice, Former Puerto Rico Mayor Pleads Guilty to Bribery Scheme.US Department of Justice, Man Sentenced for Bribery Schemes Involving Millions of Dollars in U.S.-Funded Military Contracts and Visa Fraud.US Department of Justice, Sophisticated Sinaloa Cartel Money Laundering Organization Dismantled.US Department of Justice, U.S. Attorney Announces Charges Against Leadership Of The Sinaloa Cartel And 25 Other Defendants In Massive Fentanyl Importation And Trafficking Conspiracies.US Department of Justice, Justice Department Announces Total Distribution of Over $6B to Victims of State Sponsored Terrorism.US Department of Justice, Readout of U.S. Attorney General Merrick B. Garland's Meeting with Singapore Attorney General Lucien Wong.US Department of the Treasury, Treasury Releases 2023 DeFi Illicit Finance Risk Assessment (press release).US Department of the Treasury, Illicit Finance Risk Assessment of Decentralized Finance (report).US Department of the Treasury Office of Foreign Assets Control, Treasury Targets Russian Financial Facilitators and Sanctions Evaders Around the World.

What's the difference between a financial advisor and a financial planner? How do you know if you can trust the person selling you life insurance? My guest this week is answering these questions and so much more! Joining me today is Huston Loke, the Executive Vice President of Market Conduct at the Financial Services Regulatory Authority of Ontario (FSRA). Huston Loke, along with FSRA, aims to help protect consumers getting a mortgage, buying life insurance, and working with financial professionals. The Financial Services Regulatory Authority of Ontario (FSRA) was launched in 2019 but has already made significant progress in helping protect consumers seeking financial advice and services. Huston has previously served as a committee member of the Financial Stability Board and an advisor to the CEO of the Canada Mortgage and Housing Corporation (CMHC), and as the Director of Corporate Finance at the Ontario Securities Commission (OSC). In this episode, Huston shares what exactly FSRA is doing to help protect consumers in Ontario and the red flags to look out for when seeking financial services. Additionally, he also explains the difference in financial titles and services that tend to confuse most consumers. For full episode show notes visit: https://jessicamoorhouse.com/361

Lewis McLellan, editor of OMFIF's Digital Monetary Institute, joined Victoria Cumings, chief legal and regulatory officer at RTGS.global, at the DMI Symposium to discuss how the Financial Stability Board's roadmap for enhancing cross-border payments is driving change in the payments ecosystem. They discussed public and private sector efforts to transform international payments and delved into how new thinking and approaches can contribute towards industry improvements.

Mark Carney is one of the towering figures of climate finance. In 2020 Mark became the UN Special Envoy on Climate Action and Finance, and the adviser to the UK on finance for COP 26. At COP26, in Glasgow, he launched GFANZ - the Glasgow Financial Alliance for Net Zero, whose members manage $130 trillion of financial assets and have pledged to invest them in line with the Paris agreements. Mark co-chairs GFANZ together with Mike Bloomberg.Mark is a Vice Chair and Head of Transition Investing at Brookfield Asset Management and Board Member of Stripe.He was the governor of Bank of Canada from 2008 to 2013, and then Governor of the Bank of England from 2013 until 2020. He was the chair of the Financial Stability Board (2011-2018) founding co-chair of TCFD - the Task Force on Climate-Related Financial Disclosure.Mark holds a bachelor's degree with high honours in economics from Harvard University and MPhil and DPhil in Economics from the University of Oxford.

The Herle Burly was created by Air Quotes Media with support from our presenting sponsor TELUS, as well as CN Rail.I'd like to welcome Carolyn Wilkins to the podcast. Carolyn is currently an external member of the Financial Policy Committee of The Bank of England, appointed in June 2021. She is a Senior Research Scholar at Princeton University's Griswold Centre for Economic Policy, and on the Board of Directors at Intact Financial Corporation. Prior to these appointments, most of you will know Carolyn from her distinguished 20-year career at The Bank of Canada, serving as Senior Deputy Governor, the Bank's G20 and G7 Deputy, and member of the Financial Stability Board.Now, I just want to caveat that Carolyn is speaking with us in her personal capacity today, NOT on behalf of The Bank of England.We're going dive into a few timely topics:Financial Sanctions ... what are they? How powerful a tool are they? And how the hell do they work?They don't call it “crypto” for nothing. So we'll spend some time demystifying cryptocurrency.Thank you for joining us on #TheHerleBurly podcast. Please take a moment to give us a rating and review on iTunes, Spotify, Stitcher, Google Podcasts or your favourite podcast app.Watch conversations from The Herle Burly on YouTube. 

In this episode of the Monday Mess Haul (MMH), FischerJordan team members get into sports and cars (just not sports cars). Some of our questions for each other:  Does NBCUniversal's promotional partnership with TikTok for the Winter Olympics indicate a broader trend for sports viewership, or was this a more concentrated attempt to boost lagging viewership for the Olympics?  Why might the Olympics have struggled recently to acquire and retain viewers? Is there a large enough market for "electrifying" luxury cars that companies like Lunaz might see more competition?  Is pushback for crypto from entities like the Financial Stability Board just par for the course with anything that threatens the status quo? The Mess Haul features a more free-form conversational approach with multiple participants than our more interview-focused style. This format is designed to generate quick takes on a handful of recent topics, facilitating shorter, more opinionated discussion with a number of different perspectives. Each episode of The Mess Haul is recorded, edited, and released in the same day.  Today's guests: Kshitish Nanda, Boaz Salik  +++ FischerJordan is a New York-based consulting, thought-leadership, and outsourcing firm helping business leaders exchange complexity for clarity. We use rigorous data analytics, specialized staffing, and custom technology solutions to deliver workable strategies for clients in financial services and healthcare.   Background articles for this episode:  Morning Brew - "Can TikTok Save the Olympics?" Forbes - "Electrifying Classic Cars is a Surging Business - with a Two Year Wait List" CNN - "How cryptocurrencies could trigger a financial crisis"

Today Andy Silvester takes us through the headlines: there's news about Indivior; the Financial Stability Board has issued a warning about crypto; and Heineken is raising prices to limit increasing costs. Andy also chats to City A.M.'s Sascha O'Sullivan and Jack Barnett about the latest ONS inflation numbers, the cost of living, and Boris Johnson. See omnystudio.com/listener for privacy information.

Randal Quarles, former member of the board of governors of the Federal Reserve System, joins Mark Sobel, US chair, OMFIF, for a broad discussion on the outlook of the Federal Reserve. Their discussion will take in everything from the economic outlook, financial stability to Randal's reflections on his time at the Fed and as Chair of the Financial Stability Board. 

Mark Carney is Vice Chair of Brookfield Asset Management and Head of Transition Investing. Prior to Brookfield, Mark served as the Governor of the Bank of England from 2013 to 2020, and prior to that as Governor of the Bank of Canada from 2008 until 2013. Mark was also Chairman of the Financial Stability Board from 2011 to 2018. Mark is a long-time and well-known advocate for sustainability and is currently the United Nations Special Envoy for Climate Action and Finance. If that was not enough, Mark serves on numerous other boards including Stripe, Bloomberg Philanthropies and the Foundation Board of the World Economic Forum to name a few. In Today's Episode with Mark Carney You Will Learn: 1.) How Mark made his entrance into the world of finance and came to the role of Governor of the Bank of Canada? How did that role lead to his becoming Governor of the Bank of England? How did seeing multiple booms and busts impact Mark's investing mindset? 2.) Governments, Central Banks and Regulation: How do governments and central banks retain control in a completely decentralized financial world? Can traditional currencies and digital currencies peacefully co-exist? What are Mark's predictions for central bank digital currencies? How does Mark expect governments and central banks to regulate digital currencies in the coming years? 3.) The Winners and Losers: What does the future hold for crypto exchanges? How do competitors for digital gold perform? Why does Mark believe in crypto "only the niche will survive"? What does the rise of Defi mean for traditional banks? What will determine those that survive? What does Mark mean when he says the winners will decide "what is my interface with this crypto world?'' 4.) The Future of NFTs: Do NFTs do more to help or to harm income inequality? How does Mark see the future for the development and experimentation of NFTs? Who are the winners and losers in the next decade for NFTs? How does Mark feel about the pause between productivity gains and real wage benefits that exist today?  Item's Mentioned In Today's Episode with Mark Carney Mark's Favourite Book: Arcadia by Tom Stoppard

Glasgow's climate summit was both an important step forward and a missed opportunity to go further. One important step forward was undoubtedly COP 26's unprecedented focus on the role of finance in tackling the climate emergency, which catalysed huge commitments from the private sector. The Glasgow Financial Alliance for Net Zero (GFANZ) now speaks for over USD130 trillion of capital that is committed to transforming the economy. 450 firms from 45 countries – including several leading alternative asset managers – are signed up to help deliver the estimated USD100 trillion of finance needed for net zero over the next three decades.Glasgow's focus on finance was strategic: enlisting the support of the private sector is seen as critical if governmental pledges are to be achieved. And while voluntary action is applauded, regulators, especially in Europe, are determined to use their rulebooks to ensure the asset management community is playing its part. In the EU, the first wave of asset manager regulation is already in force or in active development – and is not without its challenges. But it is only in recent months that the sustainability disclosure rules that will apply to UK-regulated alternative asset managers have started to emerge.Some asset managers would argue that the benefits of harmonisation across Europe outweigh the opportunities created by divergence, but the British government only partially agrees. The EU Green Taxonomy, for example, has been endorsed and, with some adjustment, will be used by UK firms. But in other areas, UK regulators do not feel beholden to EU approaches. There is a recognition that the EU rules have not entirely hit their mark – at least not yet – and there is a willingness to learn lessons. Indeed, the UK has a close eye on emerging international standards and is tending to prefer those. The adoption of mandatory climate-related reporting for companies, asset owners and asset managers is a case in point – the UK has opted for a reporting framework created by the Task Force on Climate-Related Financial Disclosures (TCFD), a body established in 2015 by the Financial Stability Board, whose recommendations have gathered endorsements from organisations across the world. This reporting framework is designed to provide decision-useful, forward-looking information on how financial risks and opportunities are being addressed by companies and other organisations. Reports have to cover the strategy and governance of climate-related business issues, as well as quantitative disclosure of specific metrics and targets. UK-regulated alternative asset managers with over £5 billion under management (and various other financial market participants) need to get ready to publish these reports in the coming years. For some firms that will be a significant additional level of public reporting, even though many recognise the benefits and are, in fact, already actively engaged – as this week's BVCA report demonstrates. (See our detailed briefing on TCFD reporting requirements for asset...

Building on OMFIF's status as an independent think tank for central banks, the Sustainable Policy Institute brought together policy-makers, technology experts and investors on 29-30 September 2021 to push the boundaries of the discussion on the role of monetary policy, regulation and disclosure, as well as address key practical challenges, in driving greener financial markets to achieve net zero at a two day virtual symposium. Ignazio Visco has been governor of the Bank of Italy since November 2011 and is chairman of the joint governing board of the Insurance Supervisory Authority. He is a member of the governing council and general council of the European Central Bank, the general board of the European Systemic Risk Board, the board of directors of the Bank for International Settlements, the steering committee of the Financial Stability Board, the board of governors of the World Bank and the Asian Development Bank. He is also alternate governor for Italy at the International Monetary Fund and the Inter-American Development Bank. He takes part in the G7, G10 and G20 finance ministers and central bank governors meetings. View more from the symposium here. 

We Talk with Curtis Ravenel, Senior Advisor to former bank of England governor Mark Carney, COP26 Finance Advisor and UN Special Envoy for Climate Finance. Mr. Ravenel discusses how the Task Force on Climate Related Financial Disclosure or TCFD has conducted its work and structured its recommendation since it was formed by the G20's Financial Stability Board in 2015.

In this episode Yvonne Harris chats with Anton Rushakov, a Senior Consultant with Global Affairs Associates. Anton is an ESG practitioner with 20+ years' experience in the international oil and gas industry and the non-profit sector. He specializes in corporate sustainability and stakeholder relations with the focus on climate change and energy transition communications and engagement. Anton has worked in Eastern Europe, Central Asia, and Far East Russia, and he holds a Masters of Political Science and African Studies from the University of California, Los Angeles, and a Masters of International Public Policy from the School of Advanced International Studies at Johns Hopkins University. As you will learn in this episode, Anton is a skilled educator with a knack for communicating technical information to non-technical audiences. So, as we dive into discussion on climate-related corporate reporting and the Taskforce on Climate-related Financial Disclosures (TCFD) reporting framework and recommendations, you will realize that you are in very capable hands! Moving toward standardized transparency is one of the tools the financial system has to price economic externalities—the risks of climate change—into markets. That's why the Financial Stability Board of the G20 countries created the TCFD to provide recommendations for effective evaluation and disclosure of the “actual and potential impacts of climate-related risks and opportunities on the organization's businesses, strategy, and financial planning where such information is material.” While at first blush this may sound like ‘amped up alphabet soup', Anton explains the nuts and bolts of the TCFD framework, scenario analysis and the reporting framework in an easily digestible manner for business leaders and those tuning into this topic for the first time. Subscribe to ESG Decoded where you consume your podcasts and connect via social media to share your feedback and topic suggestions. Enjoy this episode!

We speak with Dr. Eva Hüpkes, Head of Regulatory and Supervisory Policies and Alex Stervinou, Member of Secretariat, both at the Financial Stability Board, Basel. Eva and Alex unpack the FSB consultation on targets for enhancing cross-border payments, and progress on regulation, supervision and oversight of global stablecoin arrangements, such as Facebook's Diem project.

In the third episode of the Compliance Clarified podcast Susannah Hammond and Lindsey Rogerson discuss all things remuneration and what compliance officers around the world need to consider.The regulatory focus on remuneration, compensation and critically the design of bonuses goes back to the financial crisis and it's a measure of how crucial good bonus design is seen to be that the very first thing the Financial Stability Board did in the wake of the financial crisis was to implement supranational compensation standards seeking to drive better risk-aware behaviours. More than a decade later remuneration remains a key supervisory priority. As discussed in the podcast here are a selection of articles by Susannah and Lindsey: FSB cites UK good practice on compensation https://www.linkedin.com/posts/susannahhammond_fsb-cites-uk-good-practice-on-compensation-activity-6805809779756277760-qmhx Bank of England lab experiment on risks of relative performance pay https://www.linkedin.com/posts/susannahhammond_bank-of-england-lab-experiment-on-relative-activity-6805811791650664448-bSl2 Form L Q3.05 – which was deleted by Prudential Regulation Authority 2018 and only restored in January 2021 https://www.linkedin.com/feed/update/urn:li:activity:6806614095530471424/ COVID-19 fairness hangover heightens conduct risk for financial firmshttps://www.linkedin.com/feed/update/urn:li:activity:6806612121506471936/

Mark Carney served as the governor of the Bank of Canada from 2008 until 2013, and as the governor of the Bank of England from 2013 to 2020. Mark also was the chairman of the Financial Stability Board from 2011 to 2018. Mark is currently the Vice Chairman and Head of Impact Investing at Brookfield Asset Management, as well as a UN Special Envoy for Climate Action and Finance. Mark joins David on Macro Musings to discuss his new book *Value(s): Building a Better World for All*, as well as his career in central banking. Specifically, they discuss Mark’s experience at the Bank of Canada during the Great Recession, nominal GDP targeting and average inflation targeting as central bank frameworks, the future of central bank digital currencies, dollar dominance and the shadow banking system, the role of central banks and the financial sector in combating climate change, and much more.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Mark’s Twitter: @MarkJCarney Mark’s Brookfield profile: https://www.brookfield.com/about-us/leadership/mark-carney   Related Links:   *Value(s): Building A Better World For All* by Mark Carney https://www.penguinrandomhouse.ca/books/669023/values-by-mark-carney/9780771051555   *The Growing Challenges for Monetary Policy in the Current International Monetary and Financial System* by Mark Carney (speech given at Jackson Hole Symposium 2019) https://www.bankofengland.co.uk/-/media/boe/files/speech/2019/the-growing-challenges-for-monetary-policy-speech-by-mark-carney.pdf   David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth

Jesse McWaters speaks about analyzing the impact of blockchain technology on industry and society at the World Economic Forum, disruption vs. collaboration in the financial sector, why blockchain technology gives people a license to image a future without constraint, the role of established financial institutions in the cryptoasset space, why the road of blockchain entrepreneurs differs from those in the FinTech space, how the blockchain narrative changed in recent years, blockchain regulation, checks and balances, code of conduct in ICOs, why blockchain technology might become less of a binary idea in the future, and much more. Jesse leads the World Economic Forum's exploration of fintech and financial innovation where he works with financial executives, regulators and a global network of innovators to analyze the implications of open banking, blockchains, digital identity, and AI on the financial sector and society. Jesse is a frequent speaker and media commentator on CNBC's Closing Bell, in the Financial Times, The Wall Street Journal, Wired, and the New York Times and he has presented his analyses to financial institutions and global policymakers such as the Financial Stability Board, the Basel Committee on Banking Supervision, the Federal Reserve Board, the Peoples Bank of China, the European Parliament, and the FDIC. Jesse McWaters: https://www.weforum.org/agenda/authors/jesse-mcwaters/, https://twitter.com/rjmcwaters Previous interview with Jesse for my blockchain documentary (2017): https://blockchain-documentary.com/jesse-mcwaters-wef/ The Blockchain and Us newsletter To stay up to date about what blockchain pioneers, innovators and entrepreneurs from all around the world think about the future of this space, sign up for the newsletter.

London's reputation as a global financial centre has been tarnished yet again. This time another British bank Standard Chartered, stands accused of irregularities. New York's top financial regulator claims the bank carried out $240 billion dollars of illegal transactions with Iran over the past decade. The bank refutes the claim. This latest case follows on the heels of other scandals in the City of London. Moves are underway to tighten international banking regulation. So where does the problem lie? Zeinab Badawi talks to Mark Carney, who is in charge of steering these new rules as Chairman of the Financial Stability Board for the G20 Leading economies. He's also Governor of Canada's Central Bank.(Image: Bank of Canada Governor Mark Carney. Credit: REUTERS/Chris Wattie)