Financial Stability Oversight Council

Will Regulators and AI Lock Horns? Contentworks, an agency specialising in financial services marketing, has rounded up opinions from top regulators.

Retrieved on: 
Tuesday, January 16, 2024

LIMASSOL, Cyprus, Jan. 16, 2024 /PRNewswire-PRWeb/ -- Artificial Intelligence (AI) is already widely utilised by the finance sector and the market size of AI in fintech is projected to grow from $44.08 billion in 2024 to $50.87 billion by 2029. But, and it's a big but, AI has also garnered the attention and scrutiny of regulators. Many are concerned about how the technology will be used within a compliant framework. Here's a deep dive into what regulators have said so far and what we can expect going forward.

Key Points: 
  • Contentworks, an agency specialising in financial services marketing, has rounded up opinions from top regulators.
  • This can result in unpredictable outcomes, many of which could be detrimental to the stability of the financial markets.
  • While establishing standards is the responsibility of regulators, maintaining ethical and clear communications with customers is the duty of financial services providers.
  • 45% of financial services providers across Europe lack an AI ethics framework and 38% have no clear demarcations for accountability.

Canadian Sustainability Standards Board continues its momentum welcoming 3 new members; meets with International Sustainability Standards Board

Retrieved on: 
Thursday, September 14, 2023

TORONTO, Sept. 14, 2023 /CNW/ - The Canadian Sustainability Standards Board (CSSB) continues its momentum to support the uptake of international sustainability standards in Canada, appointing three new members to expand its geographical representation and breadth of expertise, while continuing to foster its relationship with the International Sustainability Standards Board (ISSB).

Key Points: 
  • TORONTO, Sept. 14, 2023 /CNW/ - The Canadian Sustainability Standards Board (CSSB) continues its momentum to support the uptake of international sustainability standards in Canada, appointing three new members to expand its geographical representation and breadth of expertise, while continuing to foster its relationship with the International Sustainability Standards Board (ISSB).
  • "We are excited to welcome three additional, proven leaders in sustainability to our board.
  • "We are focused on ensuring meaningful engagement with those who are impacted and affected by the first international sustainability standards."
  • Collaboration with Canada's regulatory bodies, which determine the mandatory application rules of standards for Canada's publicly accountable enterprises, will continue.

Wolters Kluwer Expert Points to Potential Risks 2023 Bank Failures Pose for Non-bank Lenders

Retrieved on: 
Friday, August 11, 2023

After this spring’s rapid collapse of Silicon Valley Bank, Signature Bank and First Republic Bank, the banking industry is closely measuring the possible regulatory after-effects.

Key Points: 
  • After this spring’s rapid collapse of Silicon Valley Bank, Signature Bank and First Republic Bank, the banking industry is closely measuring the possible regulatory after-effects.
  • Those impacts may include closer regulatory scrutiny for both traditional and non-bank lenders, according to Wolters Kluwer Compliance Solutions expert Kevin Wilzbach.
  • Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks, credit unions, insurers and securities firms.
  • Wolters Kluwer FCC is also home to CT Corporation , the leading provider of registered agent services, incorporation services, and legal entity compliance.

Hashdex Announces Addition of Brian Brooks to Board of Directors

Retrieved on: 
Thursday, July 20, 2023

New York / Rio de Janeiro / London, July 20, 2023 – Hashdex , a leading global crypto-focused asset manager, today announced that Brian Brooks has joined Hashdex’s Board of Directors (the “Board”), expanding the firm’s Board from four to five members.

Key Points: 
  • New York / Rio de Janeiro / London, July 20, 2023 – Hashdex , a leading global crypto-focused asset manager, today announced that Brian Brooks has joined Hashdex’s Board of Directors (the “Board”), expanding the firm’s Board from four to five members.
  • Often referred to as the “first fintech Comptroller,” Brooks is recognized as one of the most visionary global leaders in financial services, fintech and cryptocurrency.
  • He also served as a member of the FDIC board of directors and as a voting member of the Financial Stability Oversight Council.
  • Brooks is an honors graduate of Harvard University and the University of Chicago Law School.

SW Graduate School of Banking Foundation (SWGSB) at the SMU Cox School of Business Distinguished Award Recipients Elevate Financial Services Industry Through Service

Retrieved on: 
Monday, June 5, 2023

The award is given to a graduate of SWGSB who has served the financial services industry in a way that goes above and beyond his or her peers.

Key Points: 
  • The award is given to a graduate of SWGSB who has served the financial services industry in a way that goes above and beyond his or her peers.
  • Recipients have made meaningful contributions to banking, and their work draws honor to the school.
  • In September 2018, state banking supervisors appointed him to serve on the Financial Stability Oversight Council, and he was reappointed in 2020.
  • He is also heavily involved in promoting cybersecurity in the financial sector and serves on the Financial and Banking Information Infrastructure Committee.

SW Graduate School of Banking Foundation (SWGSB) at the SMU Cox School of Business Distinguished Award Recipients Elevate Financial Services Industry Through Service

Retrieved on: 
Saturday, June 3, 2023

TX (SMU), June 02, 2023 (GLOBE NEWSWIRE) -- The chairman of Commerce Street Holdings and the banking commissioner for the state of Texas were honored Thursday at the annual banquet hosted by the SW Graduate School of Banking (SWGSB) at the SMU Cox School of Business.

Key Points: 
  • TX (SMU), June 02, 2023 (GLOBE NEWSWIRE) -- The chairman of Commerce Street Holdings and the banking commissioner for the state of Texas were honored Thursday at the annual banquet hosted by the SW Graduate School of Banking (SWGSB) at the SMU Cox School of Business.
  • The award is given to a graduate of SWGSB who has served the financial services industry in a way that goes above and beyond his or her peers.
  • Recipients have made meaningful contributions to banking, and their work draws honor to the school.
  • He is also heavily involved in promoting cybersecurity in the financial sector and serves on the Financial and Banking Information Infrastructure Committee.

Charles-Antoine St-Jean named Chair of the Canadian Sustainability Standards Board; first members appointed

Retrieved on: 
Wednesday, April 12, 2023

TORONTO, April 12, 2023 /CNW/ - The Canadian Sustainability Standards Board 's (CSSB) first-ever chair and initial members have been appointed, setting the stage for supporting the adoption of sustainability disclosure standards in Canada.

Key Points: 
  • TORONTO, April 12, 2023 /CNW/ - The Canadian Sustainability Standards Board 's (CSSB) first-ever chair and initial members have been appointed, setting the stage for supporting the adoption of sustainability disclosure standards in Canada.
  • "Charles-Antoine's standard-setting leadership and International Sustainability Standards Board (ISSB) experience will be coupled with our initial CSSB members' understanding of sustainability matters among public disclosure users and preparers.
  • "The CSSB will support the adoption of international standards in Canada while considering supplemental requirements tailored to the Canadian market.
  • The CSSB expects to announce another group of members in June 2023, which will set the stage for an operational board.

Brian Brooks Appointed to the Board of the HBAR Foundation

Retrieved on: 
Wednesday, March 1, 2023

DALLAS, March 1, 2023 /PRNewswire/ -- Brian Brooks, a fintech and global policy heavyweight, has joined the board of the HBAR Foundation, the organization helping drive adoption of the Hedera network. Brooks, who has substantial experience in financial policy, banking, digital assets and Web3, brings with him a wealth of experience to his new board duties. The HBAR Foundation to date has allocated funding of more than $408m and awarded over 225 grants to ground-breaking distributed ledger technology (DLT) projects, empowering entrepreneurs to build economies on the open source, leaderless proof-of-stake Hedera network.

Key Points: 
  • DALLAS, March 1, 2023 /PRNewswire/ -- Brian Brooks , a fintech and global policy heavyweight, has joined the board of the HBAR Foundation , the organization helping drive adoption of the Hedera network.
  • Brooks, who has substantial experience in financial policy, banking, digital assets and Web3, brings with him a wealth of experience to his new board duties.
  • Brooks joins existing board members Shayne Higdon , Jason Loh , and Robert Migliorino , with additional board members likely to be appointed in 2023.
  • Whether you're building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you.

Carver Bancorp, Inc. Appoints Robin L. Nunn to Board of Directors

Retrieved on: 
Monday, October 17, 2022

NEW YORK, Oct. 17, 2022 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV), the holding company for Carver Federal Savings Bank ("Carver"), a certified Minority Depository Institution ("MDI"), announced today the appointment of Robin L. Nunn as an independent member of its Board of Directors.

Key Points: 
  • NEW YORK, Oct. 17, 2022 /PRNewswire/ -- Carver Bancorp, Inc. (Nasdaq: CARV), the holding company for Carver Federal Savings Bank ("Carver"), a certified Minority Depository Institution ("MDI"), announced today the appointment of Robin L. Nunn as an independent member of its Board of Directors.
  • "On behalf of the Board of Directors, I am pleased to welcome Robin Nunn to Carver Bancorp, Inc.," said Lewis Jones, Chairman of the Board of Directors.
  • "Robin is a skilled attorney, with an extensive record of accomplishment and expertise in regulatory, privacy, and cybersecurity matters.
  • Carver Bancorp, Inc. (NASDAQ: CARV ) is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank.