International

Climate Risk

ECB Calls Out Crypto Assets for ‘Outsized Carbon Footprint’

By Editors | 24/07/2022

The ECB calls on investors and financial institutions to evaluate whether crypto undermines their ESG objectives and climate strategy.

PEPs & Sanctions

Russia Creates Hurdles for Foreign Banks Trying to Exit

By Manesh Samtani | 24/07/2022

Societe Generale is the only major bank that has exited Russia so far. HSBC has struck a deal to sell its Russian business but will need regulatory approval.

Structural Regulation

Fed Consults on Default Rules for Legacy LIBOR Contracts

By Editors | 24/07/2022

The rules would implement a law enacted earlier this year that provides a uniform solution for replacing LIBOR references in contracts without adequate fallback provisions.

Conduct, Culture & Accountability

UK FRC Scrutinises Audit Firms’ Exam Cheating Controls

By Editors | 24/07/2022

The UK Financial Reporting Council asked 7 audit firms to detail the controls that are in place to prevent and detect cheating in professional exams.

Tokenisation

ISSA Finds ‘Major Upsurge’ in DLT Use in Financial Markets

By Editors | 24/07/2022

Over 30% of the industry using DLT in live production, finds ISSA survey, conducted by the ValueExchange with support from Accenture, Broadridge and VMWare.

Payments & Settlements

Central Bank Liquidity Bridges Lower Costs of Cross-border Payments

By Editors | 24/07/2022

CPMI says central bank liquidity bridges can help reduce funding costs, FX costs, credit risks and operational risks for payment system participants.

Reporting & Disclosures

SGX RegCo Outlines Steps to Tackle Greenwashing

By Manesh Samtani | 21/07/2022

SGX is developing a digital portal known as ESGenome which will help issuers with disclosures and make ESG data more easily accessible to investors.

ESG Data

FMSB Publishes Spotlight Review on ESG Ratings

By Editors | 21/07/2022

The review seeks to help support increased transparency around collection processes and methodologies as a means of facilitating comparability of ESG ratings.

Fraud, Scams & Cybercrime

Fraud Risk: An Industry Priority for the Crypto Space

By Editors | 20/07/2022

Experts say crypto firms have a responsibility and moral obligation to have anti-fraud controls in place, and that this will help create trust in the industry.