January 17, 2025, marks the day the Digital Operational Resilience Act (DORA) stops being a talking point and becomes a reality. While financial institutions across Europe have been gearing up for this moment, the Dutch Authority for the Financial Markets (AFM) has outlined its plans for supervision and what firms can expect in the year ahead. If you haven’t started implementing DORA’s requirements yet, you’re already behind.
A new report from KPMG reveals that digital transformations are finally gaining momentum, with nearly 90% of US companies reporting improved performance and profitability from their tech investments. This is a significant leap from last year, where only 45% of businesses were seeing tangible benefits. As artificial intelligence (AI), enhanced data analytics, and third-party technology providers continue to drive these transformations, companies are not only optimizing their internal processes but are also investing in technology that helps them manage risks, meet regulatory requirements, and stay competitive.
The 2020s have been a relentless rollercoaster for businesses. From the pandemic to supply chain breakdowns, inflationary spirals, geopolitical tensions, and the meteoric rise of new technologies, disruption has rewritten the rules of survival. Yet, for some organizations, these upheavals are more than just hurdles—they are catalysts for transformation and growth.
Time is slipping away for proprietary trading firms (PTFs) and other financial institutions preparing to comply with the Digital Operational Resilience Act (DORA). With the January 17, 2025, implementation date looming, the Dutch Authority for the Financial Markets (AFM) has issued a candid report that paints a mixed picture of readiness.
The European Insurance and Occupational Pensions Authority (EIOPA) has just released its much-anticipated 2024 Stress Test, and it’s good news—sort of. European insurers are shown to be resilient enough to handle significant geopolitical disruptions, but the cost could be steep. It’s a mixed bag of reassuring strength and a reality check for the industry.
The European Securities and Markets Authority (ESMA) is making moves to fine-tune equity market transparency rules under MiFID II. On December 16, ESMA released its Final Report, laying out targeted changes that aim to simplify pre- and post-trade reporting, reduce redundant obligations, and make equity data more useful and accessible.
The Office of the Comptroller of the Currency (OCC) has issued its Semiannual Risk Perspective for Fall 2024, painting a mixed picture of the federal banking system. While banks remain fundamentally sound, the OCC is waving red flags on growing risks—from stubborn commercial real estate stress to cyber threats and increasingly sophisticated fraud schemes. In short, this isn’t the time for banks to get comfortable.