“Uninsurable world” poses systemic risk As the United States rolls back the climate risk mitigation measures of the previous administration, elsewhere the implications of rising temperatures are being keenly studied. This is particularly the case in the insurance industry which is effectively pronouncing more and more assets uninsurable with far-reaching consequences. Disruption to the

UK Supreme Court ruling highlights conduct risk A recent UK Supreme Court decision in relation to car finance may mean that the banking industry has escaped its worst fears in that specific case, but the issue has served to bring the issue of bank conduct risk out into the open once more. UK

GENIUS Act paves way to widespread tokenization in US capital markets The recent high-profile launch of tokenized money market funds (MMFs) in the US, following the passage of landmark legislation, marks a significant step in bringing blockchain-based finance into the regulatory mainstream, shifting attention away from crypto speculation and toward more institutional, low-risk

Tariffs may not be enough to curb US trade deficit While the US is turning to tariffs in an attempt to rebalance its widening trade deficit, deeper structural forces are also in play – most notably, the world’s enduring trust in the US as a safe harbor for capital. In April, President Donald

Open finance runs into limitations over “super-apps” The move by BNPL provider Klarna into mobile phone services signals an ambition to build a “super app.” But while open finance holds promise, replicating Chinese platforms such as WeChat and Alipay may be a step too far. Holding a banking license was long regarded as

TradFi embraces DeFi in landmark blockchain initiative An initiative between a group of financial institutions and the world’s most publicly used blockchain promises to accelerate the migration of real-world assets onto the distributed ledger. R3, a UK-based software group which has developed blockchains used by financial institutions including HSBC, Bank of America, Euroclear, and

Testing times for AI highlight commercial and ethical conflicts Reports that safety testing processes on AI models have been cut have led to concerns being expressed around ethics and governance and prompted calls for stricter regulation in this uniquely challenging area. Commercial considerations have increased pressure for faster rollout of new versions of

‘Tape bombs’ prompt market gyrations The first 100 days or so of Donald Trump’s administration have been characterized by market volatility. A major factor has been the publication of highly consequential, policy-related postings on social media platforms such as X and the President's own Truth Social channel. These so-called “tape bombs” (trader slang

Tariffs return: What history tells us The election of President Trump and his use of trade tariffs as a central economic policy tool has reignited debate over their broader economic implications. The White House contends that these "reciprocal" measures are fully justified on the basis of the trading practices of major trading partners