Banks are putting themselves and the financial system at substantial risk by not being properly prepared for climate change-related rules, carbon taxes and the impact on their loan portfolios.
Reporting and Governance
SEC proposes shaking up equity data
A shake-up in the way equity market data is collected and distributed along with faster delivery to investors is being proposed by the US Securities and Exchange Commission (SEC).
Attempts to remove US regulatory hurdles for fintechs may fall short
The clunkiness of the US’s regulatory system is making it hard for new entrepreneurial fintechs to get off the ground, and though there are attempts to address this, there is probably only so much that can be done
Can CSDR become a revenue driver?
CSDR is an onerous regulation with the potential for tier one banks to quickly rack up fines. But it is also an opportunity to centralise settlement processes and even to drive new revenue sources
Patchwork of regtech solutions calls for a strategic approach
Since banks have been highlighted as being ripe for digitisation, regtech vendors have focused on point solutions arising from the latest regulatory requirements, creating an archipelago of products that are difficult to understand and manage.
AFME recommends partial settlement to improve CSDR settlement rates
EU authorities are being encouraged to consider partial settlement across the industry under the pending Central Securities Depository Regulation (CSDR) to improve transaction settlement rates.
SEC rejects CBOE’s speed bump proposal
A proposal by exchange group CBOE for a 4-millisecond trading speed bump has been rejected by the US Securities and Exchange Commission (SEC) on the basis that it would discriminate against some market participants.
Listed firms given more time to file disclosures due to coronavirus
Publicly listed companies are to be given an extra 45 days to file certain disclosure reports that would have normally been due between March 1 and April 30 because of the coronavirus, the US Securities and Exchange Commission (SEC) said in a statement.
DSB consolidating its consultation process
The Derivatives Service Bureau (DSB) has brought forward its annual date for publishing its fees and is to consolidate its consultations into a single in-depth exercise.
Deutsche Bank slammed by FCA over compliance failures
The Financial Conduct Authority (FCA) is clamping down on Deutsche Bank for repeated compliance failings warning that it could delay its re-authorisation to operate in the UK.
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