The ESAs report explores centralizing ICT incident reporting for the financial sector under DORA. Three models are considered: baseline, enhanced sharing, and full centralization. The report, developed with input from various stakeholders, aims to inform future decisions on incident reporting centralization.
The SRB updated its operational continuity in resolution (OCIR) guidance. It clarifies expectations for banks on service identification, risk assessment, and mitigation measures like resilient contracts and robust IT systems. The revisions align with recent frameworks like DORA and EBA guidelines. Minor additions will be applied from the 2026 resolution planning cycle, pending further regulatory developments.
The PRA's 2025 priorities for UK international banks emphasize robust governance, risk management, and controls. Key areas include risk management frameworks, data accuracy for regulatory returns, financial and operational resilience (especially with the March 2025 deadline), and continued assessment of Basel 3.1 implications despite implementation delays.
“As the latest climate-related crisis unfolds in Los Angeles, Treasury releases most comprehensive data on homeowners insurance in history, along with report detailing higher costs to homeowners and insurers of elevated climate perils.”
“We argue that cyber and other financial shocks cannot be treated as uncorrelated vulnerabilities and policy solutions for cyber vulnerability need to be calibrated for adverse financial conditions.”
The Global Cybersecurity Outlook 2025 reveals escalating cyber risks due to geopolitical tensions, technological advancements, and supply chain vulnerabilities. Over 50% of organizations cite supply chain risks as their top concern. Experts stress updating technology, redefining risk management, and fostering collaboration to address growing cybercrime, AI threats, and regulatory challenges.
The PRA's new policy on solvent exit planning for insurers aims to ensure orderly market exits. Applicable to most UK insurers, it requires them to develop and implement Solvent Exit Analyses and, when necessary, detailed Execution Plans. The policy comes into effect on June 30, 2026.
In the ever changing landscape cybersecurity landscape, Jeff Crume reviews his predictions for last year and peers into his crystal ball to see what may be coming in 2025 and beyond especially when it comes to how AI will change the threat landscape to possible solutions.
This research develops a taxonomy of operational risks impacting corporate sustainability. A literature review and analysis of 100 business cases reveal relationships between these risks, their causes, and their economic, social, and environmental consequences. The findings help companies classify and manage sustainability-related operational risks, though the specific relationships may vary across sectors and individual cases.
This lecture explores how probability theory can quantify uncertainty, chance, and even ignorance. He demonstrates methods to measure the quality of these quantified uncertainties. He also humorously admits a miscalculation during the lecture regarding paired comparisons within the audience.