The Joint Specie Committee met on 01 April and several developing areas beyond routine wording updates we highlighted, including growing concern around cyber aggregation for high static-limit specie risks, the need for clearer exposure data on facilities, and the potential limitations of current bordereaux reporting where values are allocated to single locations. Members also discussed emerging market issues such as digital asset custody, data centre aggregation, silent terrorism exposure, and the impact of Brazilian regulatory changes on claims control and cooperation provisions. New engagement initiatives were noted, including closer collaboration with LIIBA FAS Committee.