Reporting and GovernanceRSS

DTCC advocates three pronged approach to improve OTC derivatives market transparency

To increase transparency in global derivatives markets, there is a need to iron out cross jurisdictional differences, to improve messaging and to plough more resources into the governance of product identifiers, the Depository Trust & Clearing Corporation (DTCC) said in a report. 

Tony Cripps

Singapore prioritises transition activities in its green taxonomy

The overwhelming focus on transitioning the world economy to green technologies such as solar energy has a simple drawback: it fails to place value on minimising emissions over the coming decades of existing brown industries like generating electricity from fossil fuels. 

ASIFMA calls for consistent regulatory approach to use of cloud by financial firms

The application of cloud computing by financial firms is excessively complex due to conflicting regulatory requirements across jurisdictions, according to the Asia Securities Industry & Financial Markets Association (ASIFMA), which is calling for the promotion of a consistent and globally aligned framework governing its use.

Steve Bishop

Digitisation rush leaves supervisors concerned about cyber risks

Last year a major cyber attack, known as SolarWinds, infiltrated the IT systems of hundreds of organisations across the globe, causing data breaches for multinational corporations, the US government and even the European parliament.

SFC consults on its conduct expectations for book building and placement activities

The Hong Kong Securities and Futures Commission (SFC) is asking for feedback on its clarifications on the conduct standards it expects from intermediaries in equity and debt capital raisings. 

Fed gearing up to incorporate climate risks in regulatory framework

The Federal Reserve is striving to better understand climate-related risks and how to incorporate them into its supervisory framework, following the creation of its Supervision Climate Committee (SCC).

GET-Ashley ALder 144996504

Regulators to give climate finance a bigger push

National supervisors and the International Organization of Securities Commissions (IOSCO) are looking at more coordinated and accelerated efforts to push forward the climate finance agenda, said Ashley Alder, chief executive officer at Hong Kong’s Securities and Futures Commission (SFC). 

EBA publishes final draft on Pillar 3 disclosures by large banks

The final draft for implementing technical standards (ITS) for the disclosure of indicators of globally systemic institutions (G-SIIs) have been published by the European Banking Authority (EBA).

Cyber attacks

Financial firms have borne the brunt of cyber attacks during Covid-19 pandemic

The financial sector has been more often targeted by hackers during the Covid-19 pandemic meaning there is a significant risk of a severe disruption or systemic event, the Bank for International Settlements (BIS) warned in a bulletin. 

ESMA warns over abusing reverse solicitation rules

EU-located firms warned to follow requirements pertaining to ‘reverse solicitation’ by the European Securities and Markets Authority (ESMA) in a public statement issued on January 12.