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The European Securities and Markets Authority (ESMA) has opened a public consultation on proposed rules aimed at regulating ESG rating providers.The draft Regulatory Technical Standards (RTS) outline several requirements for these providers, including the type of information that must be submitted when applying for authorisation or recognition.The standards also set expectations for internal safeguards to manage potential conflicts of interest, particularly for providers offering services beyond ESG ratings. Additionally, the RTS specify the level of transparency required, including disclosures to the public, rated entities, issuers, and users of ESG ratings.ESMA is inviting feedback from stakeholders until 20 June 2025. Following…

Cybersecurity powerhouse CrowdStrike is trimming its global headcount by 5% as part of a cost-cutting plan to drive the company toward its long-stated goal of $10 billion in annual recurring revenue. The cuts will affect approximately 500 employees and will span the first half of fiscal 2026 and leave room for “continued hiring in key strategic areas,” the endpoint-security vendor said. In an SEC filing, CrowdStrike management said it expects the layoffs to generate between $36 million and $53 million in charges, including up to $26 million in cash severance and benefits and as much as $20 million in non-cash…

Microsoft says that it’s embracing Google’s recently launched open protocol for allowing AI “agents” to communicate with each other. On Wednesday, Microsoft announced that it would bring support for Google’s Agent2Agent (A2A) spec to two of its AI development platforms, Azure AI Foundry and Copilot Studio. Microsoft has also joined the A2A working group on GitHub to contribute to the protocol and tooling. “By supporting A2A and building on our open orchestration platform, we’re laying the foundation for the next generation of software — collaborative, observable, and adaptive by design,” wrote the company in a blog post. “The best agents…

Ox Security, an Israeli startup in the application security space, has landed a $60 million Series B round led by Deutsche Telekom’s venture arm DTCP. The company, which has offices in New York, said the round included follow-on cash from IBM Ventures, Microsoft, Swisscom Ventures, Evolution Equity Partners and seed backer Team8. Ox Security has raised a total $94 million since its launch in 2021 with ambitious plans to cash in on two fast-moving trends: a surge of AI-generated code and longstanding alert fatigue in the AppSec space.  The company and its investors are betting big that security teams will…

The European Banking Authority (EBA) has issued revised final draft implementing technical standards (ITS) on resolution planning reporting, aimed at streamlining regulatory compliance across the EU.The updates focus on harmonising data requirements and cutting redundant reporting, ultimately lowering the compliance burden for institutions. Proportionality remains a central principle, ensuring that reporting obligations are tailored to each firm’s size and complexity.Key improvements include enhanced data usability for resolution authorities, elimination of unnecessary data points, and prevention of overlapping information requests. The ITS introduce a “core-plus-supplement” model, reducing reporting demands on smaller institutions and removing duplications already covered under MREL/TLAC, CoRep, and…

As insurers face growing pressure to meet rising customer expectations, the rush to adopt generative AI (GenAI) tools is putting accuracy at risk, according to M-Files.Recent data from the Chartered Insurance Institute showed consumer satisfaction in the insurance sector fell to 84% in Q4 2024, down from 86% a year earlier. In response, many firms are deploying GenAI to improve efficiency across customer interactions, quoting processes, and product delivery. But M-Files senior industry solutions manager Yohan Lobo warned that moving too fast without the right data foundation can backfire.Lobo said, “To streamline the way they interact with customers, generate quotes,…

Two of Europe’s most prominent WealthTech firms, Fincite of Germany and Harvest of France, have announced a strategic merger to create a new European leader in wealth management software.The union is supported by private equity investors TA Associates and Montagu and aims to drive growth through acquisitions and an expanded geographic footprint. Both firms will operate under the Harvest Group umbrella, with a shared vision to consolidate the fragmented WealthTech space and build a pan-European champion.Fincite and Harvest have each developed robust B2B wealth management platforms designed to support financial institutions in delivering tailored, efficient investment solutions. Their software spans…

Data is a critical part of wealth management and investors are fully aware of this, but should they be more empowered to take control of their data?Fredrik Davéus, CEO and co-founder of Kidbrooke, noted that data in itself is not that powerful, the real power comes from using it. He said, “If you ask any investor whether data is valuable, the answer will undoubtedly be yes. The real issue, however, is not understanding the value of data, but knowing how to use it.“An investor either commits the resources necessary to leverage data effectively or does not. Therefore, the focus should…

The UK government on Wednesday is moving to codify “secure-by-default” expectations for software makers with the rollout of a voluntary Software Security Code of Practice that sets a market baseline for how vendors build, ship and maintain business software. The framework, co-authored by the National Cyber Security Centre (NCSC) and the Department for Science, Innovation and Technology, lays down 14 baseline principles covering everything from secure design and build-environment hardening to security patch cadence and vendor-to-customer transparency.  British policymakers say software vendors can self-assess against the code immediately, while officials develop a certification scheme designed to give buyers an independent…

Israel has ordered six schools in East Jerusalem to close this week, throwing the educational future of 800 children of Palestinian refugees into turmoil.In a visit to one of the schools — all run by the United Nations agency for Palestinian refugees, known as UNRWA — Associated Press reporters witnessed Israeli police throw tear gas into the schoolyard as a group of boys played outside.Children sprinted away from the gas, coughing, drooling and covering their eyes. Some stripped off their clothes while others donned disposable masks.Israeli police said the incursion into the Shuafat refugee camp came in response to stone-throwing…