In today’s digital age, credit cards have become indispensable tools for consumers worldwide. With a simple swipe or tap, we can access a world of convenience and rewards. Banks meticulously craft credit card rewards, advertising them as unique selling propositions for their credit card products. Indeed, these reward programs are commonly seen as a prominent… Read More »
The surge in global inflation following the COVID-19 pandemic has reignited interest in the often complicated ways through which inflation affects the economy, attracting attention from investors, regulators and business leaders alike. However, very few instruments exist to hedge against overall inflation, with even the conventional hedges having become less effective during recent times. While… Read More »
As the world adapted to life in the shadow of Covid-19, the medium through which human beings communicated underwent a drastic change. Due to the social distancing measures adopted by governments, activities which typically took place face-to-face swiftly transitioned into the virtual world, as expressed by the increasing popularity of video conferencing tools, such as… Read More »
Cryptocurrencies like Bitcoin and Ether are an ideological project, an investment asset and – according to their supporters – the basis for a new economy. Yet after the collapse in crypto prices in 2022, the spectacular fraud at crypto exchange FTX and the criminal fines against Binance, the debate around crypto has changed. Critics say… Read More »
The Digital Operational Resilience Act (DORA), as brought into effect by Regulation (EU) 2022/2554, is the foremost EU legislative initiative to strengthen financial institutions’ safeguards against cyber-threats and against other risks to ICT (information communications technology) systems. Although the legislation will be fully applicable on 17 January 2025, DORA establishes requirements for risk management, identification… Read More »
Open AI is an artificial intelligence (AI) research and deployment company that is behind the creation and commercialization of ChatGPT as well as other research initiatives concerning artificial general intelligence (AGI), “a highly autonomous system that outperforms humans at most economically valuable work.” AGI has been considered a fringe topic in the technology industry. For… Read More »
On April 19, 2024, Richard Ostrander, the general counsel and head of the Legal and Compliance Group at the Federal Reserve Bank of New York (“FRBNY”) expressed his personal views on how the legal function can (or should) be integrated into a banking organization’s risk management framework.[1] This is a notable development because his views… Read More »
The Markets in Crypto-Asset Regulation (Regulation (EU) 2023/1114 – ‘MiCA’) aims at furthering one of the main applications of the distributed ledger technology (DLT, which is the crypto asset ecosystem. MiCA’s approach consists of ensuring an adequate degree of investor protection, financial stability, market fairness, and integrity, in the aftermath of the Crypto Winter, where… Read More »
The United States, the European Union (EU), and other jurisdictions have imposed restrictive measures (sanctions) against Russia, including asset freezes, in response to the war of aggression against Ukraine. The latest available data shows that frozen assets belonging to sanctioned Russian individuals and entities amount to 21.5 billion Euros. Furthermore, the frozen assets of the… Read More »
Climate risk is one of the greatest challenges facing the world today and investors are taking notice. But a full understanding of how climate risks get implemented into firm policy remains elusive. In our recent paper, we study the propagation of climate disasters through common ownership networks as a mechanism through which investors may impact… Read More »
