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FCA HQ

Licence cliff edge looms for UK crypto firms

In December 2021, BitcoinPoint became the UK’s first registered crypto-asset firm offering an ATM cash out facility, a milestone that nonetheless belies that many other crypto firms are close to losing their ability to operate in the country. 

Thierry Philipponnat

IOSCO seeks to drive ESG ratings consistency

The plethora of opaque and often confusing ESG ratings methodologies could endanger the transition to a sustainable economy prompting IOSCO to wade in with suggestions on how to improve consistency. 

Basel Committee consults on climate change risk management practices

Global banks and supervisors are being asked about the establishment of a principles based approach to improving both banks' risk management and supervisors' practices related to climate-related financial risks by the Basel Committee on Banking Supervision.

European Commission once again delays level 2 SFDR requirements

Level 2 measures relating to the EU’s Sustainable Finance Disclosure Regulation (SFDR) are to be further delayed until January 1, 2023 from July 22, 2022, the European Commission said, giving firms more time to prepare.

Mark Lancelott

Meeting consumer expectations for more sustainable finance

Financial services firms have a lot on their plate. They need to adjust to greater uncertainty, technology that changes faster than ever and customers who expect more and more flexibility. We believe sustainability is central to this new normal – pressure is coming in the form of consumer demand so firms and regulators must step up. 

Sunak COP26

COP26 gives climate finance a further boost

The high profile COP26 conference, which ended on November 12, is likely to accelerate the use of climate finance and will see financial regulators act with greater urgency to green the financial system, according to industry sources.

FINMA sees real estate as top threat to the Swiss financial system

Six significant risks to Switzerland’s financial system have been identified in the 2021 Risk Monitor from the Swiss Financial Market Supervisory Authority (FINMA), with mortgages and real estate markets remaining a top concern. 

Marina Petroleka

New board to bring ‘welcome’ consolidation of ESG standards

The creation of an International Sustainability Standards Board promises to replace a patchwork of ESG company disclosures standards with a single set of global rules, but will prove challenging to implement. 

Edel Brophy

ESG regulations: what financial institutions need to know in 2022

The global pandemic delivered the biggest shock to the financial services industry since the financial crash. Many financial institutions grappled with fresh challenges from the fall in financial assets or reduction in liquidity to ensuring operational resilience.

Rachel Adamson

FCA crackdown on ‘grey area’ could choke SME lending

There is a grey area in the financial market that is largely unregulated. This area is populated by intermediary companies that do not outrightly sell speculative illiquid securities, but promote and market them to high-net-worth individuals and sophisticated investors.