International Advocacy Updates
Get the very latest on World Council's International Advocacy efforts.
The Basel Committee on Banking Supervision (Basel Committee) has issued guidance encouraging national-level regulators to consider tailoring its standards for less complex financial institutions such as credit unions—a position long-advocated for by World Council of Credit Unions.
The European Council presidency and European Parliament reached a provisional agreement on the Digital Operational Resilience Act (DORA) that allows for proportional treatment of credit unions under new regulatory requirements on the security of financial institution network and information systems, as well as critical third parties that provide ICT- (information communication technologies) related services to them, such as cloud platforms and data analytics services.
World Council Senior VP of International Advocacy and General Counsel Andrew Price and Assistant General Counsel of International Advocacy Panya Monford discuss the highlights of their 2022 Global Regulatory Update on Episode Nine of the Global Credit Union Podcast.
Sustainable finance will become an increasing area of focus for national-level regulators across the globe this year as financial institutions expand investments in clean energy loans and other environmentally-friendly products. That's just one of the regulatory issues WOCCU International Advocacy will be watching, as outlined in its 2022 Global Regulatory Update for Credit Unions and Financial Cooperatives.
The Telegraph is an online digest of the information you must know to ensure your cooperative financial institution remains in compliance with the modern (and future) regulatory environment.