The US Securities and Exchange Commission (SEC) has been increasingly vocal about its view that environmental, social and governance (ESG) disclosures can be material to investors. To help combat ESG disclosure violations, the SEC created a Climate and Risk Task
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Latest edition of the Regulatory Initiatives Grid
On 25 May 2022, the Financial Services Regulatory Initiatives Forum (Forum) published an updated version of the Regulatory Initiative Grid which sets out the regulatory pipeline so that financial services firms and other stakeholders can understand, and plan, for the…
What will operational resilience look like going forward? An overview of the supervisory regulatory position
On 25 May 2022, Duncan Mackinnon (Executive Director for Supervisory Risk Specialists) gave a speech at the City and Financial 9th Annual Operational Resilience for Financial Institutions Summit. In his speech Mr Mackinnon discusses where the PRA expects firms to…
ESMA final report on the MiFID II framework on best execution reports by investment firms
On 16 May 2022, the European Securities and Markets Authority (ESMA) published a final report on the review of the MiFID II framework on best execution reports by investment firms. The final report follows a consultation paper that the ESMA…
Regulation Around the World – Beyond Sanctions
What have the financial services regulators been doing following the sanctions imposed on Russia?
In the latest instalment of our Regulation Around the World series we cover some of the regulatory alerts that financial services regulators have issued in key…
Results of the 2021 Climate Biennial Explanatory Scenario
On 24 May 2022, the Bank of England (BoE) published the results of the Climate Biennial Explanatory Scenario (CBES), the first exploratory scenario exercise on climate risk, involving the largest UK banks and insurers.
The BoE asked banks and insurers…
US Treasury publishes National Strategy for Combating Terrorist and Other Illicit Financing
On May 13, 2022, the US Department of the Treasury published the 2022 National Strategy for Combating Terrorist and Other Illicit Financing.
Read our full update here.
Sanctions evasion to become an EU crime under Commission’s proposal
This week, the European Commission is reportedly expected to present a legal proposal to make the evasion of sanctions an EU crime. This step will equip EU countries with a legal tool to confiscate frozen assets as part of the…
Published in OJ – Commission Delegated Regulation 2022/803 supplementing MiFIR
On 24 May 2022, Commission Delegated Regulation 2022/803 of 16 February 2022 supplementing the Markets in Financial Instruments Regulation (MiFIR) was published in the Official Journal of the European Union (OJ).
The Delegated Regulation supplements the MiFIR by specifying the…
Published in OJ – Commission Delegated Regulation 2022/804 supplementing the BMR
On 24 May 2022, Commission Delegated Regulation 2022/804 supplementing the Benchmarks Regulation (BMR), was published in the Official Journal of the European Union (OJ). The Delegated Regulation supplements the BMR by specifying the rules of procedure for measures applicable to…