Legal Risks: Governance, Compliance and an Evolving Legal Environment 2022

Legal Risks: Governance, Compliance and an Evolving Legal Environment 2022

Legal Risks: Governance, Compliance and an Evolving Legal Environment

September 12 – 15

Live Content sessions held: 9am–1pm (EDT) | 2pm–6pm (BST) | 9pm–1am (SGT) 

Chair: Atilla Arda, senior financial sector expert, International Monetary Fund

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.

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. 

Learning outcomes

At the conclusion of the training, participants will be able to:

  • Gain insights into the implications of climate risk for central bank law and mandates
  • Understand the impact of CBDCs and stablecoins on legal and regulatory frameworks
  • Assess the effect of recent sanctions on international finance
  • Analyse the legal standing of AI and machine learning
  • Identify opportunities and risks in fintech

Atilla Arda

Senior financial sector expert

International Monetary Fund

Atilla Arda is a Senior Financial Sector Expert in the International Monetary Fund’s (IMF) Monetary and Capital Markets Department; prior to this, he was a Senior Counsel in the IMF’s Financial & Fiscal Law Unit. Mr. Arda joined the IMF in February 2007 from the central bank of the Netherlands where he held a Senior Counsel position and was Substitute Secretary to the Board; he also contributed to the workings of the Legal Committee of the European System of Central Banks. Mr. Arda has consulted for over 70 countries, half of which on-site, including for countries as diverse as Egypt, Greece, Indonesia, Ireland, Jamaica, Kosovo, Myanmar, Portugal, Sri Lanka, and Ukraine. Most recently, he was the deputy head for the Switzerland Financial Sector Assessment Program (FSAP), and he led the FSAP crisis readiness teams for the United Kingdom, United States, and euro area. Mr. Arda is specialized in central bank governance and law, financial law, institutional frameworks for macroprudential policy and crisis management, financial safety net arrangements, crisis preparedness, and bank resolution regimes. Mr. Arda undertook his undergraduate at the Amsterdam Academy of Banking and Finance; he is a graduate of both the Amsterdam Law School and the Amsterdam Graduate School of Law of the University of Amsterdam, where he specialized in international economic and financial law. He is a regular speaker at international conferences and has been chairing Central Banking Publications’ course on ‘Central Bank Governance and Legal Risks’ since 2014.