Regulators
Permanent FRTB reforms seen as vital for IMA adoption
Temporary relief granted in June has done little to encourage internal model use in Europe
Beyond the black box: interpretability of LLMs in finance
Mechanistic interpretability identifies and locates modifications in computational mechanisms
SEC gunning to take over Cat in 2027
Regulator's bid for control of market surveillance apparatus splits industry participants
Private credit risk doesn’t have to be systemic to be serious
Risk management leader outlines three cracks in the consensus that risk in the private credit sector is contained
Perpetual futures: when expiry disappears, governance is key
Perps solve the futures roll problem, but run market-structure and regulatory risks, warns Vishal Gupta
Banks are automating GenAI testing, but scope varies widely
Risk Benchmarking: LLM-as-judge offers model testing at scale, but few lenders use it to facilitate autonomous sign-off
Have regulators gone soft on enforcement? (And should we care?)
US agencies are scaling back punishments for technical rule breaches, raising concerns that small but crucial risks may be ignored
Risk managers want closer relationship with first line
Risk Live: New risks emerging at speed means deep division between lines of defence is dangerous
Banks welcome UK IMA eligibility test delay, but some want more
Risk Live: PRA extends monitoring for ‘Spearman’ test, while US regulators drop correlation metric
Managing AI models is reshaping three lines of defence, say banks
Risk Live: Model managers want seat at table during development, and expect first line to take charge of AI model testing
AI compute has a governance problem
As exchanges move to launch compute futures, Vishal Gupta argues that the real test is not product innovation, but whether governance can keep pace
EU banks welcome high-risk systems breather from delay in AI act
But chatbot transparency still applies from August, requiring deployers to disclose use to customers
Will Kalshi and Polymarket win over prop shops? Don’t bet on it.
A few market-makers – Jump Trading and Susquehanna among them – are dabbling in prediction markets but most are holding off due to patchy liquidity and legal uncertainty
Op Risk Benchmarking 2026: explore the data
View interactive charts from Risk.net’s 61-bank study, covering risk appetite breaches, controls, scenario analysis, GRC tech and regulation
Op Risk Benchmarking: Banks seek a home for AI risk
Risk.net’s 2026 study sees record participation and collective unease, as banks race to incorporate AI into op risk frameworks
Fed to move tailored-capital goalposts soon, says Bowman
Banks hope agencies will index triggers for harsher capital rules to economic growth
G-Sib capital surcharge: how indexing and averaging alter incentives
Capital risk strategist anticipates Basel III endgame impact on US big-bank behaviour
UK securitisation reforms trump EU’s, say market players
Originators and investors could find UK securitised assets easier to deal with after tandem reviews
Esma supervisory switch could become ‘distraction’
Push to transform watchdog might hinder market reforms, say some
Banks in Asia turn to integrated third-party risk units
Regional and global firms create centres of excellence bridging first and second lines
The challenges facing Fed chair Kevin Warsh
New chair has pledged sweeping change, but can he keep Trump – and the FOMC – onside?