Latest articles from Justin Pugsley

Sam Ramirez Jr

EU shelving social taxonomy paves way for greater fragmentation

The European Commission’s decision to kick the EU social taxonomy into the long grass was greeted with disappointment by the sustainable finance community, but more importantly it might accentuate the slide towards greater fragmentation.

SEC proposes tough GHG disclosures for listed companies

Listed companies in the US will be expected to provide extensive and detailed disclosures under a climate change reporting framework proposed by the Securities and Exchange Commission (SEC).

truss

Reorganising UK’s regulatory bodies ‘could undermine City of London’

The UK regulatory furniture could face its biggest reorganisation in over a decade if Liz Truss replaces Boris Johnson as prime minister, potentially ushering in a period of deep uncertainty for the Bank of England.

Andreas Ita cropped

Banks still vulnerable to another Archegos-type crisis

Overly generous risk weightings on certain transactions, a lack of data and stress testing loopholes means that some global systemically important banks could get hit by another Archegos-type failure.

Nuclear symbol

Controversial EU taxonomy could be hobbled by legal challenges

Despite EU agreement on its taxonomy for sustainable investment, it may not only prove to be ineffective in driving a green transition, but is potentially shrouded in legal uncertainty. 

Gold bars

Bankers’ gold rush may signal fears over looming financial crisis

There is anecdotal evidence that investment bankers in the UK are piling into physical bullion for their personal portfolios due to fears over counterparty risk in the financial system, severe inflation and political uncertainty.

Ben Blackett-Ord

Research suggests SM&CR has degenerated into a ‘paper tiger’

The introduction of the Senior Managers & Certification Regime (SMCR) back in 2016 struck fear into many bankers with its onerous requirements and penalties. However, recent research suggests that the conduct regime is almost toothless. 

FCA entrance

Firms brace for biggest overhaul in UK retail conduct rules in decades

The delayed consumer protection rules will have a very significant impact on firms serving the UK financial retail market by imposing increased accountability and compliance oversight obligations.

Nadhim Zahawi

UK finance bill more a power grab than a Big Bang

The UK’s long-awaited finance bill was supposed to unshackle the City of London from ‘unnecessary’ red tape, much of it inherited from the EU, but in the end it left the financial services sector underwhelmed and disappointed.

BLM crypto

Crypto faces moment of reckoning

It turns out that crypto is not an independent parallel financial system after all and is closely tethered to the traditional financial system and its recent meltdown will see policy-makers double down on regulating the sector. By Justin Pugsley