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"The Bank of England has fined Metro Bank (MTRO.L) 5.38 million pounds ($7.13 million) for failures in its regulatory reporting, it said on Wednesday, after the lender revealed an accounting blunder in 2019."

Eramet a annoncé mardi avoir identifié une fraude financière au sein de sa gestion de trésorerie au siège du groupe minier et métallurgique avec un impact financier estimé à 45 millions d’euros et avoir pris immédiatement les mesures nécessaires pour y mettre fin.

"Internally, money managers are investing in artificial intelligence and big data capabilities as well as a more seamless integration of front and back-office processes. Externally, leaders are building mobile and tablet apps and expanding their use of social media."

"Current reporting standards for insurers require a decomposition of observed profits and losses in such a way that changes in the insurer's balance sheet can be attributed to specified risk factors. Generating such a decomposition is a nontrivial task because balance sheets generally depend on the risk factors in a non-linear way. This paper starts from an axiomatic perspective on profit and loss decompositions and finds that the axioms necessarily lead to infinitesimal sequential updating (ISU) decompositions, provided that the latter exist and are stable, whereas the current practice is rather to use sequential updating (SU) decompositions. The generality of the axiomatic approach makes the results useful also beyond insurance applications wherever profits and losses shall be additively decomposed in a risk-oriented manner."

"Social and regulatory attention has been using fairness and equity as a lens to evaluate the outcomes of existing processes like insurance underwriting. For example, a new law in Colorado, which will come into effect at the beginning of 2023, will require insurers to provide analytical evidence that their operational processes that use inputs of consumer data and predictive models do not result in unfair discrimination against certain consumer groups. Credit-based insurance scores (hereinafter referred to as insurance risk scores) are one example of the inputs used in these operational processes"

“Bearing in mind that unprecedented fiscal measures amid accommodative monetary policies may have distorted regular risk assessment frameworks, it is important for risk managers and supervisors not to underestimate risks.”

"La dynamique de transformation numérique n’apporte pas que des opportunités aux institutions financières mais elle les expose également à plus d'incertitude et de nouvelles menaces. En premier lieu, elles restent à l'heure actuelle des cibles de choix pour tous les hackers, en raison de la nature très sensible des données qu'elles possèdent. Un quart des cyberattaques entre 2019 et 2020 ont touchés les entreprises du secteur financier selon la Banque des règlements internationaux (BRI)."

"Cybersecurity risk has been a growing “non-financial” risk for banks over the years, but there is a very real and growing financial impact from cyber incidents. Cyber attacks regarding sensitive client data can lead to ransom losses, lost revenue, operational interruptions, increased counter-party and reputational risks and customer attrition. Additional costs include data restoration, investigation and response and regulatory and/or legal fines, some of which can be offset by cyber risk insurance."

"Examining cyber-attacks as a shock to a firm’s incentive to appear ESG-friendly, I show that the inside measure hardly improves after the shock."

"The Bank of England said on Monday it was fining Standard Chartered (STAN.L) 46.55 million pounds ($61.51 million) for misreporting its liquidity position to the regulator and for failings in its controls."