On 15 April 2025, the Financial Stability Board (FSB) published its finalised Format for Incident Reporting Exchange (FIRE), a global standardised format aimed at streamlining cyber and operational incident reporting and enhancing cross-border cooperation.
FIRE is a common framework that financial firms can use to report operational incidents, including cyber
On 12 March 2025, the International Organisation of Securities Commissions (IOSCO) issued a consultation report on neo-brokers.
Neo-brokers are a subset of brokers, characterized by providing online-only investment services and by the absence of physical operating branches, thereby using technology to facilitate those services and access to financial markets. Neo-brokers have very limited
On 12 March 2025, the International Organisation of Securities Commissions (IOSCO) issued a new consultation report on artificial intelligence (AI) in capital markets.
The purpose of the consultation report is to create a shared understanding among IOSCO members of the issues, risks and challenges that emerging AI technologies used in financial
On 21 February 2025, the Financial Stability Board (FSB) announced that it was conducting a thematic peer review that will take stock of the progress made and planned by its members (and certain non-members) in implementing the FSB Crypto Framework.
The primary source of information for the peer review will be responses to
On 11 February 2025, the Bank of International Settlements published a speech by Denis Beau, First Deputy Governor of the Bank of France, at the Cercle IA et finance.
In his speech Mr Denis discusses, from a supervisor’s perspective, the opportunities and risks of AI and then the conditions necessary for effective regulation of AI
On 12 December 2024, the Bank for International Settlement’s Financial Stability Institute published a paper which explores the potential transformative impact of artificial intelligence (AI) on the financial sector. In summary, the paper notes that while AI exacerbates existing risks such as model risk and data privacy, it does not introduce fundamentally new
Join our panel of lawyers from Asia, Dubai, Europe, London and the US who will explore the key regulatory developments, issues and considerations and examine some real-world case studies.
On 20 August 2024, the Financial Services Regulatory Authority (the FSRA), the financial services regulator in the Abu Dhabi Global Market, published Consultation Paper No. 7 of 2024 (CP7) on a proposed regulatory framework for the issuance of stablecoins that are backed by a fiat currency, or what CP7 refers to as
The UAE Central Bank (the CBUAE) has issued its Payment Token Services Regulation (the PTSR) for regulating stablecoins-related services in the UAE. The PTSR applies across the UAE except in the Dubai International Financial Centre (the DIFC) and the Abu Dhabi Global Market (the ADGM). We note that the PTSR also
On 16 July 2024, the Bank for International Settlements published a speech by Klass Knot (Chair of the Financial Stability Board (FSB) and President of the Netherlands Bank). The speech is dated 11 July 2024 and is entitled The AI adventure – how artificial intelligence may shape the economy and the financial system