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Legal Risks: Good Governance, Compliance and an Evolving Legal Environment

DATE

Yet to be Determind

LOCATION

To Be Determined;

Why Attend?

The past two years have seen the legal risk profile of central banks shift. Three disruptive forces stand out. First, the advent of CBDCs and the incorporation of climate are changing the relationship between a central bank, its public and the financial ecosystem. Secondly, and more broadly, technology is changing not just financial markets, but the tools supervisors use to identify risks. And third, the seizure and freezing of reserves in early 2022 pose questions for the architecture of international finance. Increasingly legal officers in central banks recognise the need to evaluate the implications of a changing policy environment, new responsibilities and technological innovation.

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This course is designed to equip central bankers to meet these challenges. Each day will feature three hours of expert-led Live Content to maximise the opportunity to share and learn. The chair will ensure participants have opportunities to network throughout the course, with time set aside for a workshop on implementing key learnings. 

Course introduction session led by the chair

  • Introductions and welcome from the chairperson
  • Overview of the training course
  • Discussion of the participant expectations

The interaction of new mandates, autonomy, and governance: a comparative analysis

  • Overview of changing central bank function and risk profile
  • Comparative analysis of developments in selected jurisdictions
  • Legal foundations of effective corporate governance
  • Discussion: how are legal departments responding to the impact of disruptive forces?

Foundations for cross-border bank resolution

  • Key steps in designing effective cross-border resolution frameworks
  • Overview of strategies used for cross-border crisis management
  • Tips for effective cross jurisdiction co-operation and coordination
  • Discussion: how to plan for resolution of individual firms?

Climate change: new risk to central banks

  • Impact of climate change on central banks’ mandates and responsibilities
  • Understanding the legal implications of climate change policies
  • Examples of national and cross-jurisdictional initiatives
  • Discussion: do central banks have sufficient legal powers to effectively contribute to the greening of the financial system?

Towards a legal framework for CBDCs, stablecoins and crypto assets

  • Taxonomy of digital money: CBDCs, stablecoins and crypto assets in focus
  • Key features of – and gaps in – existing legal and regulatory frameworks
  • Value proposition and key risks of digital money
  • Discussion: are these assets legally “money”?

How is fintech challenging and changing legal standards and practices?

  • Impact of disruptive innovation on financial services industry
  • Tips for creating a legal framework that best manages the development of fintech
  • Strategies for balancing innovation with financial stability and consumer protection
  • Discussion: what are the legal issues presented by fintech in participants’ home jurisdictions?

AI and machine learning in financial services and supervision: legal implications in focus

  • High level overview of legal areas impacted by AI and machine learning
  • Implications of AI and machine learning on financial regulation and supervision
  • Strategies for helping disruptive innovation comply with legal requirements
  • AI and machine learning in regulation and supervision: who is accountable?

Building blocks for liquidity and funding in resolution and cross-border bank resolution

  • Overview of challenges in cross-border banking and crises impact
  • Key steps in designing effective cross-border resolution frameworks
  • Tips for effective cross jurisdictional co-operation and coordination
  • Discussion: what works and what doesn’t – lessons from the past ten years

The simultaneous resolution of several banks: the experience of Ghana

  • Example of simultaneous bank resolution of several banks
  • Overview of short- and medium-term steps
  • The role and responsibilities of the legal department
  • Discussion: what is the role of the central bank in building confidence and resilience

Resolution authorities in court

  • The calculus of credibility: mandate, reputation, independence and accountability
  • Impact on policy, processes and reputation
  • Case study: lessons learnt from court experience and preparations

Financial authorities’ legal liabilities in multilevel regulatory systems

  • Multi-level regulatory system of the banking union
  • Enforcement of administrative decisions
  • Liability of resolution authorities
  • The “distribution” of the liability and the degree of discretion

Closing remarks and participant action plans

Concluding session led by the chair

  • Summary of the course
  • Discussion of the observed trends and case studies
  • Application of learning points in the participants’ home organisations
  • Preparation of action points

This course hasn't been scheduled yet, however you can request for In-House training

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