This podcast explores the important role that self-regulatory organizations (SROs) play in securities markets, as well as the advantages, risks, and key considerations in delegating regulatory responsibilities to SROs.

The speakers discussed how securities supervisors can effectively oversee SROs to ensure accountability, transparency, and investor protection. They also highlighted practical approaches for strengthening the relationship between supervisors and SROs, especially in emerging markets.

Speaker: 

Bert Chanetsa, Program Leader, Toronto Centre

Host: 

Chuin Hwei Ng, Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

This panel took place at the 2025 International Monetary Fund and World Bank Group Spring Meetings. 

The rapid evolution of financial innovation is redefining the landscape of supervision, presenting regulators and supervisors with the challenge of keeping pace with technological advancements while upholding financial stability, consumer protection, and market integrity. This session convenes leading experts to explore practical approaches for leveraging AI in supervision, equipping supervisors with the tools and insights needed to navigate an increasingly complex financial ecosystem. 

The discussion delved into how AI is reshaping financial systems to enhance resilience, with a focus on AI-driven risk management, operational efficiency, and financial inclusion. 

The panel discussed:

• The broader implications for financial stability, regulatory frameworks, and ethical considerations
• The role of AI in strengthening financial system resilience
• Innovations that enhance adaptability to market shocks and systemic risks
• Regulatory and operational challenges in integrating AI-driven solutions

Panelists:

Lesetja Kganyago, Governor, South African Reserve Bank

Andréa M Maechler, Deputy General Manager, Bank for International Settlements

Stefan Ingves, Chair, Toronto Centre

Moderator:

Jennifer Elliott, Assistant Director, Monetary and Capital Markets, IMF; Board Member, Toronto Centre

Read the transcript here. Read their biographies here.

Watch the executive panel here.

This was the second webinar of the series on the revised Core Principles for effective banking supervision.

Advances in digitalization and financial technology continue to affect the landscape of the financial system, including the provision of banking services.

The Core Principles for effective banking supervision (BCP) have been amended to reflect the impact of new risks, including risks relating to the ongoing digitalization of finance.

The panel discussed regulatory and supervisory implications of innovative technologies and their applications, as well as new competitors and business models.

Speakers:

Socorro Heysen, Superintendent, Banks, Insurance and Pension Fund Administrators, Peru; Board Member, Toronto Centre

Francesca Hopwood Road, Head, BIS Innovation Hub, London Centre

Moderator:

Jennifer Elliott, Advisor, Monetary and Capital Markets Department, IMF; Board Member, Toronto Centre

https://www.torontocentre.org/

How can central bankers and supervisors sustain financial inclusion and stability in the digital age?

Speakers:

Irene Espinosa Cantellano – Deputy Governor, Banco de México

Ben Gully – Assistant Superintendent, Regulation Sector, Office of the Superintendent of Financial Institutions (OSFI)

Moderated by: Babak Abbaszadeh

The speakers discussed the results of the recently released BIS Working Paper, The FinTech Gender Gap, which identified country characteristics, differences in the willingness to use new financial technology, and different attitudes towards privacy and technology as reasons for some of the gap.

The speakers also explored challenges and opportunities in fostering financial inclusion with new technology for supervisors and regulators.

In this podcast, Clive Briault discusses the TC Note Operational Resilience: The Next Frontier for Supervisors? He explains why operational resilience is important for supervisors, shows how supervisors can assess a financial institution's operational resilience as part of their supervisory assessment, and discusses how operational resilience fits within a risk-based supervisory approach.

In this podcast, Barry Johnston discusses the TC Note Integrating Microprudential Supervision with Macroprudential Policy. He explains the reasons supervisory authorities should adopt a macroprudential approach and why the traditional approach to micro-prudential supervision has been ineffective in preventing financial crises.

As financial systems worldwide look forward to a post-pandemic environment, are bank supervisors setting clear expectations today for their supervised institutions? This Toronto Centre podcast reviews the importance of “Sticking to the Basics” of effective financial sector supervision. Bill Coen, Toronto Centre board member and former Secretary General of the Basel Committee on Banking Supervision, catches up with longtime colleague, Tom Dujenski, an experienced adjunct professor, financial services consultant and retired senior US bank regulator.

Panelists:

Mark Carney - UN Special Envoy on Climate Action and Finance; and Finance Adviser to UK Prime Minister for COP26

Sri Mulyani Indrawati - Minister of Finance of Indonesia

Moderated By:

Babak Abbaszadeh - CEO and President of Toronto Centre

In this podcast, Steven M. Rothstein discusses changes in USA climate policy and the potential impact for domestic and international supervisors and regulators.

Ivo Jenik, Senior Financial Sector Specialist at the Consultative Group to Assist the Poor (CGAP) talks to TC about the objectives of a regulatory sandbox, and how to design and implement a sandbox.

Panelists:

Anita Bhatia - Assistant Secretary-General and UN Women’s Deputy Executive Director for Resource Management, UN System Coordination, Sustainability and Partnerships

The Honourable John Rwangombwa - Governor, Central Bank of Rwanda

Joan Larrea - CEO, Convergence

Opening Remarks:

Cheryl Urban - Director General, Economic Development and International Financial Institutions, Global Affairs Canada

Moderated by:

Lindsay Wallace - Advisor, Toronto Centre

Read our speakers' bios: https://www.torontocentre.org/Files/NewsResources/1-27-2021/IDW_panel_bios.pdf

This was the first webinar of the series on the revised Core Principles for effective banking supervision.

The post-Global Financial Crisis (GFC) period has seen banks continue to build their resilience to financial risks, underpinned by stronger regulatory and supervisory frameworks, including the Basel III standards. The Core Principles for effective banking supervision have been strengthened to reflect key elements of many of the post-GFC reforms introduced by the Basel Committee on Banking Supervision.

This panel focused on the experience with macroprudential regulation, supervision, and tools across jurisdictions.

Speakers:

Nathalie Aufauvre, Secretary General, L'Autorité de contrôle prudentiel et de résolution (ACPR), Banque de France

Bill Coen, Former Secretary General, Basel Committee on Banking Supervision; Board Member and Chair, Finance, Audit and Risk Committee, Toronto Centre

Moderator:

Babak Abbaszadeh, President and CEO, Toronto Centre 

Read the transcript here. Read their biographies here. 

https://www.torontocentre.org/

This podcast focuses on Toronto Centre’s first Leadership Program for Women Financial Supervisors and Regulators in Sub-Saharan Africa. The speakers discuss the importance of providing women with the tools and strategies to develop and strengthen their key behavioural competencies and leadership skills. Four of the program participants also share their experiences.

Erik Thedéen, Chair of the IOSCO Sustainable Finance Task Force and Jean Lorrain, Chair of Toronto Centre’s Securities Advisory Board discuss IOSCO’s recent report on sustainable finance and securities regulation. They discuss the current initiatives, both by regulators and the industry, including ESG-related international initiatives and challenges to investor protection.

This podcast focuses on developing and retaining talent. The speakers explore the apprenticeship model of training financial supervisors and ways to preserve institutional memory in financial supervisory agencies.

Karen Badgerow, CEO, Isle of Man Financial Services Authority

Dr. Naresh Singh, Toronto Centre’s Sustainability Advisor

Clive Briault, Chair, Toronto Centre’s Banking Advisory Board

Hosted by: Anatol Monid, Senior Program Director, Toronto Centre

Click here to read their bios: https://www.torontocentre.org/Files/NewsResources/11-26-2020/karen_naresh_clive_anatol.pdf

Webinar Link: https://vimeo.com/497774289

Speakers:Kuben Naidoo, Deputy Governor & CEO of the Prudential Authority, South African Reserve BankMaurene Simms, Deputy Governor, Financial Institutions, Supervisory Division, Bank of JamaicaModerator:Clive Briault, Chair, Banking Advisory Board, Toronto Centre

Part of the New Normal Series. This episode features:

Pei Hong Mok, Chief Examiner & Executive Director of the Inspection & Supervisory Methodologies Department, MASAlejandra Castorena Olivares, General Director, Methods and Procedures for Supervision, National Banking and Securities Commission (CNBV), MexicoModerated by Clive Briault, Chair, Toronto Centre's Banking Advisory Board

This webinar focuses on the impact of COVID-19 on the financial system. Our distinguished speakers also discuss emerging trends for supervising the new normal.

This podcast will focus on mental wellness in the workplace and how leaders can support a healthy and thriving team. Practical tips and ideas will be provided to help you manage your own wellbeing.

Dr. Inayat Hussain, Executive Director of the Banking Supervision Group, discusses the impact of COVID-19 in Pakistan, the State Bank of Pakistan’s policy response, and the future risks.

The worldwide total of forcibly displaced persons (FDPs) reached 110 million in 2022, with the cross-border refugee population standing at 36.4 million in 2023. The continuing cross-border refugee crisis caused by global conflict has created great vulnerabilities for FDPs. 



This TC Note and accompanying podcast discuss the expansion of access to finance for FDPs and the unique challenges it presents for financial regulators and supervisors, such as the need to comply with customer due diligence requirements under AML/CFT legislation.

They also outline actions that supervisors can take towards achieving financial inclusion for FDPs, including adopting risk-based approaches to customer identification requirements, implementing financial education programs, and encouraging the development of financial infrastructure in refugee centres.

Speaker: 

Mercy Buku, Program Leader, Toronto Centre

Host: 

Ruth Dueck-Mbeba, Financial Inclusion Advisor, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

The panel will explore:

• Fundamental similarities between pandemics and climate risk.
• Steps that could be taken to align the immediate pandemic responses with the imperatives of sustainability.
• How to leverage tools such as blended finance to advance climate smart financing.
• The opportunities for the financial sector to contribute towards climate change goals.
• The innovative ways for regulatory and supervisory authorities to address climate change-related risks and meet the SDGs.
• How to promote financial market and product innovations such as green bonds and market-based financing of green infrastructure initiatives.

This podcast will focus on the recent TC Notes on recovery and resolution planning, and will discuss implications for supervisors should an institution fail.

Mariela Zaldivar, Superintendente Adjunto de Conducta de Mercado e Inclusión Financiera de la Superintendencia de Banca, Seguros y AFP (SBS) del Perú, nos comenta sobre los problemas que enfrenta la población más vulnerable en el Perú ante la actual coyuntura, cuál ha sido la respuesta de la SBS y cómo la crisis ha cambiado el trabajo del supervisor de conducta y sobre la importancia de una estrecha cooperación con el supervisor prudencial.

This discussion will focus on the recent FSB Consultation Report on too-big-to-fail reforms.

All companies are determining the best way to reintegrate employees back to the office. This podcast will share information and practical tips to help supervisors and regulators not only survive but to also thrive as they transition back to the office.

Part 3 of the New Normal series. Join this live conversation to gain insights on how central bankers, health experts, and financial sector supervisors are dealing with the new normal.

Since the COVID-19 pandemic, the world of work has changed, and many financial supervisors now need to work from home and manage their teams remotely.

Chuin Hwei Ng interviews long-time TC partner Gerry Lewis on questions such as: how do we make sure the work still gets done effectively? Will my team be as productive or as efficient? How will we stay connected as people – and as a functioning team?

Part of the New Normal series. This episode features The Honourable Sri Mulyani, Minister of Finance, Indonesia, and Carmen Reinhart, Vice President and Chief Economist, World Bank Group. The discussion is moderated by Susanna Moorehead, Chair, OECD's Development Assistance Committee.

Anatol Monid, Toronto Centre Program Director, and Dr. Dianne Saxe, former Environmental Commissioner of Ontario, discuss the risks to the financial system posed by a climate emergency and the importance that disclosure regimes and divestiture actions have for financial institutions and their supervisors.

In this podcast, Jean Lorrain, Chair of Toronto Centre’s Securities Advisory Board, discusses the implications of COVID-19 and climate risk for securities regulators, the usefulness of international standards, and “staying the course” in the new normal.

Cross-border supervision is one of the more challenging supervisory priorities. It adds layers of complexity, new stakeholders, and potential challenges to effective supervision. 

This TC Note and accompanying podcast discus the implications for home and host financial supervisors of cross-border supervision of the adequacy of capital and liquidity. They also consider the challenges of cross-border supervision and conglomerate supervision.

Speaker: 

Brad Shinn, Program Leader, Toronto Centre

Host: 

Arvind Baghel, Program Director, Toronto Centre



Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Dans ce podcast, Jean Lorrain, président du Conseil consultatif sur les valeurs mobilières du Toronto Centre, discute des répercussions de la COVID-19 et du risque climatique pour les organismes de réglementation des valeurs mobilières, de l’utilité des normes internationales et comment maintenir le cap dans la nouvelle normalité.

Anatol Monid, Program Director at Toronto Centre, and Dr. Blair Feltmate, Head of the Intact Centre on Climate Adaptation, discuss the risks to the financial system posed by climate change and extreme weather risks, matters about which financial services supervisors and regulators should be concerned.

Anatol Monid, Toronto Centre Program Director, sits down with Dr. Naresh Singh, Special Advisor Sustainability at Toronto Centre, to discuss the risks to the financial system posed by climate change and what supervisors can learn from the COVID-19 pandemic to better address climate change disruptions.

Join this live conversation to gain insights on how central bankers, health experts, and financial sector supervisors are dealing with the new normal.

In this podcast, Shelina Visram, Program Director at Toronto Centre speaks with Dr. Olaf Weber, a Toronto Centre Program Leader, a Professor at the School of Environment, Enterprise and Development (SEED) and Research Chair in Sustainable Finance at the University of Waterloo. The discussion highlights the importance of broadening existing financial supervisory tools to incorporate risks outside the financial sector such as COVID-19, climate change and other events as they have material impact on the economy and the financial industry.

Gain insights on how financial supervisors and regulators can help to mitigate the impact of COVID-19 on the financial system and preserve the gains that have been made in financial inclusion.

In this podcast, Shelina Visram, Program Director at Toronto Centre speaks with Mutumboi Mundia, Director – Market Supervision and Development and Mubanga Kondolo, Manager – Financial Inclusion at the Securities and Exchange Commission Zambia. The discussion focuses on how financial supervisors and regulators are navigating the current global pandemic crisis whilst continuing and leveraging opportunities for the national financial inclusion agenda, and in particular in Zambia.

This is the fifth part of a Toronto Centre Webcast Series to help financial Supervisors and Regulators gain insights and perspectives on COVID-19 and its impact on the global financial system from supervisory experts.

In this Toronto Centre podcast, SAB Chair Ilana Singer interviews Maureen Jensen about the challenges and the opportunities posed by FinTech. She also touches on OSC initiatives that promote gender diversity and environmental, social and governance reporting, which are very relevant topics for the mission of Toronto Centre. Lastly, Maureen reflects on the top 3 initiatives that she led as Chair of the OSC.

Click here to view the full transcript: https://www.torontocentre.org/Files/NewsResources/5-20-2020/Updated%20Transcript_Ilana_Maureen%20Podcast.pdf

A dos meses del primer caso confirmado de Covid-19 en el Perú, conversamos con Jorge Mogrovejo, Superintendente Adjunto de Banca y Microfinanzas de la Superintendencia de Banca, Seguros y AFP sobre la situación en el Perú y las medidas regulatorias y de supervisión que se han tomado para manejar la crisis. Así mismo, en la medida en que nos encaminamos a una reapertura gradual de las actividades económicas a nivel mundial, le preguntamos a Jorge sobre los riesgos que más le preocupan y los principios que deben orientar las decisiones de todo supervisor en esta nueva fase de la crisis.

Financial crime is a significant threat to the safety and security of citizens and to the integrity of individual countries and the global financial system. While the proliferation of digital technologies presents many opportunities for financial systems, it also has introduced a new age of financial crime. For instance, crypto assets are a currency of choice among criminals.

The panel discussed:

• The importance of global implementation of FATF’s standards to ensure responsible financial sector growth
• Using the latest data technologies to combat financial crime
• How financial supervisors can better detect criminal activity and enhance know-your-customer protocols
• How policymakers and supervisors can advance global coordination to combat financial crime

Opening Remarks:

Ian Gorst, Minister of External Affairs, Government of Jersey

Panelists:

Abdul Rasheed Ghaffour, Governor, Bank Negara Malaysia

T. Raja Kumar, President, Financial Action Task Force (FATF)

Cecilia Skingsley, Head, BIS Innovation Hub, Bank for International Settlements 

Moderator:

Jennifer Elliott, Advisor, Monetary and Capital Markets Department, IMF; Board Member, Toronto Centre

Read their biographies here. 

https://www.torontocentre.org/

Gain insights on how financial supervisors and regulators can help to mitigate the impact of COVID-19 on the financial system and preserve the gains that have been made in financial inclusion.

In this podcast, Shelina Visram, Toronto Centre Program Director, speaks with John Pattison, Toronto Centre Program Leader. The discussion highlights some of the supervisory challenges during and after a very peculiar crisis like COVID-19, and what financial supervisors and regulators should focus on as they operate in this new normal.

Gain insights on how financial supervisors and regulators can help to mitigate the impact of COVID-19 on the financial system and preserve the gains that have been made in financial inclusion.