EuropeRSS
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.

Kareline Daguer

FCA consumer duty rules may force some UK banks to review business models

Some retail banks potentially face having to review their business and pricing models as they will have to ensure they deliver fair value to consumers following the FCA finalising its consumer duty rules on July 27.

Stabilised Swiss unit of Sberbank allowed to repay non-sanctioned creditors

The Swiss subsidiary of Sberbank was allowed to settle claims with non-sanctioned creditors by the Swiss Financial Market Supervisory Authority (FINMA), which said the Russian-owned bank had improved its financial stability.

Crypto

EU brings crypto into regulatory perimeter

Crypto-assets, their issuers and crypto-asset service providers (CASP) have been pulled into an EU-wide regulatory framework for the first time following a provisional agreement between the European Council and the European Parliament announced on June 30. 

Ben Richmond

Brexit: London’s foothold in the ESG regulation race

Although the EU might currently be leading the ESG regulatory race, Brexit could give London the agility, flexibility, and speed to eclipse the rest.

Most financial firms have seen compliance costs rise in last five years

The last five years have seen almost 90% of financial firms reporting increased compliance expenditure with one in 10 saying those costs have doubled, according to a survey by compliance tech and data analytics firm SteelEye.