International

ESG / Sustainability

G7 to Agree Global Corporate Tax at July Meeting – Report

By Editors | 31/05/2021

A G7 draft communique said a global minimum corporate tax will be agreed to help alleviate the strain on public finances.

Market Infrastructure

Global Banks Form Steel Decarbonisation Working Group

By Editors | 31/05/2021

Six banks will define common standards of action for steel sector decarbonisation through a collective climate-aligned finance agreement.

Big Picture

NGFS Publishes Preliminary Findings on Climate-related Data Gaps

By Editors | 26/05/2021

The availability of reliable climate-related data requires swift progress on disclosures, global taxonomy, and transparent and quality-assured metrics, the NGFS says.

Big Picture

IIF, ISDA Release Study on Financial Sector Support During Pandemic

By Manesh Samtani | 26/05/2021

The report recognises the actions of central banks, financial authorities and regulatory agencies amid the pandemic, saying they were critical in stabilising markets.

ESG / Sustainability

IAIS Offers Supervisory Guidance on Climate Risk in Insurance Sector

By Editors | 25/05/2021

New paper sets out recommendations to promote a globally consistent approach to the supervision of climate-related risks in the insurance sector.

Market Infrastructure

IOSCO Explores Conduct Risks in Leveraged Loan, CLO Markets

By Editors | 25/05/2021

IOSCO is looking to understand potential conflicts of interest and misaligned incentives that may exist among participants in the leverage loan and CLO markets.

Market Infrastructure

G7 Close to Deal on Global Minimum Corporate Tax Rate

By Sanday Chongo Kabange | 24/05/2021

A US Treasury’s proposal to accept a global minimum corporate tax rate of 15% has reportedly been met with enthusiasm in Europe.

Securities / Derivatives

ESMA Recommends Lower Short Position Reporting Threshold

By Editors | 24/05/2021

ESMA says a “substantial amount” of essential information became available to NCAs after the notification threshold was lowered to 0.1% last year.

Enforcement

Nomura, UBS, UniCredit Fined for Participating in Trading Cartel

By Editors | 24/05/2021

During Europe’s sovereign debt crisis, the banks shared information about their EGB bidding and trading strategies in Bloomberg terminal chat rooms.