Europe

ESG / Sustainability

FCA’s TCFD Rules for Asset Managers to Allow for Data Gaps

By ESG Investor | 20/12/2021

Product-level disclosures to users can be limited for transitional period where proxies deemed insufficient.

AML / KYC

FCA Fines HSBC Over ‘Prolonged’ AML Deficiencies

By Manesh Samtani | 19/12/2021

Three key parts of HSBC’s automated transaction monitoring systems showed “serious weaknesses” between March 2010 to March 2018.

AML / KYC

UK Court Convicts, Fines NatWest for AML Failings

By Editors | 15/12/2021

NatWest’s accepted cash deposits worth around GBP 264 million. The case represents the first time the FCA has pursued criminal charges for money laundering failings.

ESG / Sustainability

SFDR Level 2 Delayed Yet Again

By ESG Investor | 04/12/2021

Complexity of combining SFDR and Taxonomy-specific RTSs pushes implementation date back to 2023.

AML / KYC

EU Due Diligence Initiative Back in Focus After Delays

By ESG Investor | 01/12/2021

Much-postponed proposal now expected in December, following the unveiling of EU deforestation supply chain due diligence measures.

Crypto / Digital Assets

EU Closer to Adopting Crypto Assets & Digital Resilience Laws

By Sanday Chongo Kabange | 01/12/2021

Once a political agreement is reached between the European Council and the European Parliament, the draft rules can become law.

Market Infrastructure

European Commission Proposes to Strengthen Supervisory Bodies

By Editors | 29/11/2021

In the aftermath of the Wirecard scandal, German regulator BaFin was accused of being beholden to banking industry lobbyists and the finance ministry.

Market Infrastructure

EU Lawmakers Agree to Defer Mandatory Buy-in Rules

By Manesh Samtani | 29/11/2021

A decision to postpone implementation of the mandatory buy-in rules under the CSDR settlement discipline regime has been agreed.

Market Infrastructure

FCA Confirms Rules on Using Synthetic GBP and JPY LIBOR

By Manesh Samtani | 16/11/2021

Synthetic GBP and JPY LIBOR rates will be published until end-2022 and can be used in all legacy LIBOR contracts other than cleared derivatives.