The 2021 collapse of the family office Archegos Capital Management prompted the European Securities and Markets Authority (ESMA) to recommend creating a framework enabling supervisors to better monitor risks related to derivatives.
UK financial firms face huge climate-related losses
Climate change could inflict huge credit losses on financial firms according to the Bank of England’s latest stress tests, although these would still be manageable for the industry.
SEC’s ambitious climate reporting goals face practical hurdles
Companies listed in the US will face one of the most exacting climate-related disclosure regimes in the world if the Securities and Exchange Commission gets its way, and there are already concerns that it goes too far.
ESMA predicted to get tough on reporting failures
Financial firms are being warned that the European Securities and Markets Authority (ESMA) is losing patience with poor quality reporting and is likely to increasingly resort to penalties to address the problem.
FCA floats idea of simplifying UK listing regime
Companies listing on the UK stock market would only need to meet one set of criteria with the option to opt into further obligations, according to a proposal from the Financial Conduct Authority (FCA), which is aiming to make the country’s listing regime more attractive.
CFTC slaps Glencore with record fine for market manipulation
On May 24, the global commodities trading firm Glencore, was hit with a record $1.19bn civil penalty by the Commodity Futures Trading Commission for manipulative and deceptive conduct that spanned from 2007 to 2018.
Financial firms score victory over exchanges on stock market data feeds
Stock exchanges risk losing their ability to charge high prices for some of their data following a US appeals court decision supporting the Securities and Exchange Commission’s (SEC) plan to reform the way this data is collected and distributed.
CBDCs and stablecoins can co-exist says Fed vice chair
There is room for central bank digital currencies (CBDC) and stablecoins to co-exist side by side under certain conditions, said US Federal Reserve vice chair Lael Brainard on May 26 in testimony to the US House of Representatives Committee on Financial Services.
Basel Committee to reveal more detail on climate change, crypto-assets and G-SIBs work
Soon to be published principles on climate-related financial risks, a pending second consultation on the prudential treatment of crypto-assets and an assessment methodology for EU global banks is among the latest work announced by the Basel Committee on Banking Supervision.
PRA doubles down on financial operational resilience
As the deadline for UK financial firms to implement full operational resilience measures looms, a director at the Prudential Regulation Authority (PRA) indicated that the regulator is going to get tougher on compliance
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