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BIS: Cyber Resilience Practices - Executive Summary Date   The financial sector faces significant exposure to cyber risk given that it is information technology-intensive and highly interconnected through payment systems. Therefore, it is important for financial firms to strengthen their cyber resilience, which is defined by the Financial Stability Board (FSB) as "the ability of an organisation to continue to carry out its mission by anticipating and adapting to cyber threats and other relevant changes in the environment and by withstanding, containing and rapidly recovering from cyber ...

Digital Currencies: A Building Bloc for Chinese Regional Power? In the race to digitize the world’s major currencies, China will secure greater influence within the yuan bloc. Next February, Beijing plans to debut the digital yuan to the world at the Winter Olympic Games. Will the United States have a digital dollar by the time Los Angeles hosts the Summer Olympic Games in 2028?  The Chinese Communist Party (CCP) has long sought to gain greater monetary influence by internationalizing the yuan. In other words, China would like to borrow from foreigners at low-interest rates, restrict...

How central banks are tackling climate change risks (Credit: Unsplash) This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Silvia Anna Ainio, Policy Officer, European Commission Central banks have an increasingly critical role in tackling climate change policy objectives. Incorporating climate-related risks into regulatory frameworks remains challenging but central banks are starting to lead the way. The case for incorporating climate change into macroeconomic modeling and investment decisions has never been stronger. Ext...

To print this article, all you need is to be registered or login on Mondaq.com. Early this March, the Securities and Exchange Commission's (SEC) Division of Examinations announced its 2021 examination priorities, which include a greater focus on climate-related risks and Environmental, Social, and Corporate Governance (ESG) matters. The annual examination priorities highlight areas which the SEC believes present potential risks to investors. In her March 15, 2021 speech, SEC Acting Chair Allison Herren Lee described the agency's approach to climate and ESG matters with...

March 17, 2021 A slew of announcements earlier this month point to new regulations on carbon disclosure. Corporate America better get ready. The U.S. Securities and Exchange Commission has been particularly busy. Acting chairwoman Allison Herren Lee issued a public statement directing the SEC staff "to enhance its focus on climate-related disclosure in public company filings." In a series of tweets, Lee also aligned with the International Organization of Securities Commissions (IOSCO) statement of an "urgent need to improve the consistency, comparability, and reliability of sustainability rep...