Proposals to better align hedge accounting standards with risk management strategies were put forward by the Financial Accounting Standards Board (FASB) on May 5 and stakeholders have until July 5 to respond with comments.
Reporting and Governance
EU’s green taxonomy struggles on the details
The sprawling EU sustainability taxonomy is fiendishly complex, politically contentious and monumental in its practical scope. It suffers from yawning data gaps, and some feel its credibility is being sabotaged by the very states that backed it at the outset.
Banks look beyond digitisation post-pandemic
For banks, the Covid-19 pandemic compressed years-worth of digitisation into mere months, raising the possibility of introducing new technologies such as artificial intelligence through to real-time regulatory reporting.
SEC registers first security-based swap data repository
May 7 saw the registration by the US Securities and Exchange Commission (SEC) of its first security-based swap data repository (SDR), which will give the agency broader oversight of the swaps market.
FDIC wants to know how banks are using novel technologies
Insured depository institutions are being encouraged to submit comments by July 16 on their use of digital assets and novel technologies to the Federal Deposit Insurance Corporation (FDIC).
US regulators prepare for ESG catch-up
Regulation will be a key tool used by US government departments and agencies as an alternative to legislation in the coming years. This is reflected in recent moves by the country’s regulators, which are preparing the ground for significant changes during President Biden’s first term in office.
Time to replace crumbling capital market infrastructure
The pandemic has taught businesses of all shapes and sizes that they need to radically rethink outdated ways of working. It has shown that almost every industry is capable of rapid digital transformation when needed, and many industries’ histories will now forever be split into two distinct chapters: pre- and post-Covid-19.
SFC breaks up market misconduct syndicate
Members of a syndicate suspected of market misconduct and fraud were arrested on April 22 by the Commercial Crime Bureau at the behest of The Hong Kong Securities and Futures Commission (SFC).
Banks told to beef up operational resilience as threats proliferate
Banks around the world are being called on by the BCBS to beef up their operational resilience in light of the pandemic and other disruptive threats and work is already afoot.
Nuclear and gas left out of first delegated act of EU green taxonomy
The decision on whether to include natural gas and nuclear as sustainable or transitionary in the EU green taxonomy has been delayed as the European Commission published its delegated act on April 21.
@RiskRegulator
