The World Economic Forum (WEF) has released its 2024 Global Risks Report, providing a comprehensive analysis of the prevailing challenges and potential threats to the global landscape. The report paints a sobering picture, highlighting a deteriorating global outlook marked by a myriad of issues ranging from environmental concerns to societal unrest.
In a recent press release, Commissioner Christy Goldsmith Romero, sponsor of the Commodity Futures Trading Commission’s Technology Advisory Committee (TAC), revealed the detailed agenda for the upcoming TAC public meeting on January 8, 2024. The event, to be live-streamed from the CFTC headquarters, will focus on key technology issues impacting financial markets.
In recognition of the significant and evolving risks posed by climate change to the financial sector, the New York State Department of Financial Services (NYDFS) has issued comprehensive guidance to its regulated institutions. The guidance, released on October 29, 2020, emphasizes the importance of integrating both financial and operational risks from climate change into governance frameworks, risk management processes, and business strategies.
The Securities and Exchange Commission (SEC) announced the adoption of crucial rule changes today. The modifications target covered clearing agencies in the U.S. Treasury market and aim to update membership standards related to the clearance and settlement of specified secondary market transactions.
In its Semiannual Risk Perspective for Fall 2023, the Office of the Comptroller of the Currency (OCC) outlined key challenges and emerging threats facing the federal banking system. While emphasizing the overall robustness of the federal banking system, the OCC urged banks to remain vigilant, uphold prudent risk management practices, and avoid complacency in the face of potential economic challenges.
In a landmark move, U.S. President Joe Biden is set to unveil an executive order addressing the broad spectrum of challenges posed by artificial intelligence (AI). The executive order, slated for release on Monday, is designed to promote safety while safeguarding the interests of consumers, workers, and minority groups from potential AI-related risks.
As business dwindles and Chinese authorities tighten their grip on corporate intelligence gathering, several investigation firms are retreating from Hong Kong and relocating their employees. This retreat is a sign of growing concern among foreign companies about the business environment in the city.