License Revoked for Fraud and Misrepresentation

The Michigan Department of Insurance and Financial Services (DIFS) has revoked the insurance license of Tarik Cogo (Enforcement Case No. 26-18972) effective immediately due to fraud and misrepresentation. The respondent admitted to obtaining a license through misrepresentation and using fraudulent practices.

Consumer Protection Code Modernised

The Central Bank of Ireland has implemented a modernised Consumer Protection Code, effective March 24, 2026. This updated code enhances consumer protections for financial services, including stronger safeguards against fraud and scams, clearer information disclosure, and specific provisions for mortgage switching and insurance renewals.

Pedro Machado discusses synthetic risk transfers in Europe

Pedro Machado, Member of the Supervisory Board of the ECB, delivered a speech on synthetic risk transfers in Europe at the LBBW Fixed Income Forum. The speech discussed the growing role of synthetic risk transfers, their prudential implications, and the need for a clear regulatory framework, referencing recent opinions and reports.

ECB Discusses Physical Climate Risks and Insurance Role for Banks

The ECB highlights that climate-related physical risks remain material for banks, despite waning political attention in some areas. While insurance can mitigate losses, banks need to improve their understanding and management of these risks, particularly in granular exposure identification and integration into credit decisions.

ECB Interview: Making Supervision More Effective

The ECB has published a reform agenda to make banking supervision more efficient, effective, and risk-based. This initiative focuses on simplification, harmonisation, and leveraging technology to reduce complexity without compromising prudential standards or resilience. The changes aim to improve the competitiveness of the European banking sector.

ECB on Harmonisation and Diversity in Banking Regulation

The ECB published an interview with Patrick Montagner discussing the balance between harmonising banking regulation across the EU and respecting the diversity of institutions. He highlighted the benefits of a Single Rulebook for market integration and stability, while also noting the need for proportionate supervision, particularly for smaller institutions.

ECB Discusses Banking Supervision in Fragmented Credit Markets

The ECB, through Patrick Montagner, discusses the challenges of supervising banks' exposures to non-bank financial institutions (NBFIs) in fragmented credit markets. The contribution highlights how increased interconnections and data gaps complicate risk assessment and the need for vigilance on conduct standards when distributing private market products.

ECB Discusses Banks' Digital Risks and Operational Resilience Threats

The ECB discusses the impact of the Digital Operational Resilience Act (DORA) on banks' digital risks and operational resilience. The contribution highlights improvements in reporting, oversight of third-party dependencies, and the ongoing focus on change management risks.

ECB Supervisory Board Chair Interview on Geopolitical Risks and Banking Stability

In an interview, ECB Supervisory Board Chair Claudia Buch discussed the impact of heightened geopolitical risks on European banks and the importance of resilience. She emphasized the need for full implementation of Basel III and greater market integration to strengthen the banking sector.

FDA Advisory Committees: Transparency on Conflicts of Interest

The GAO reported that the FDA has not finalized guidance on determining financial conflicts of interest for its advisory committee members, nor does it publicly share how these decisions are made. This lack of transparency could affect the consistency and accountability of FDA decisions regarding drug and product evaluations.