SubjectsRSS

SEC braces for change of leadership and approach

Hester Peirce, a Republican commissioner at the Securities and Exchange Commission (SEC) paid tribute to the agency’s former chair, Jay Clayton, an independent, praising his handling of market volatility triggered by the Covid-19 pandemic and his style of leadership. 

IOSCO supports setting up board to promote sustainability in capital markets

Establishing a Sustainability Standards Board (SSB) has won the support of the International Organization of Securities Commissions (IOSCO) to help promote consistency and comparability across capital markets and to reduce the risk of fragmentation around sustainability disclosures.

AMF/AFM propose EU ESG framework

A joint framework proposed by market regulators in France and the Netherlands, aimed at greening the EU economy, could become a core part of the European Commission’s sustainable finance strategy.

AXA warns UK money market funds are at risk from negative rates

The UK’s £47bn ($64bn) money market fund sector could be at risk should the Bank of England pursue negative interest rates, according to AXA Investment Managers.

European banks are robust, but EBA warns over deterioration in assets

The European Banking Authority is concerned about the quality and structurally low profitability of European banks’ assets, despite their solid capital and liquidity positions.

Covid, recession and Brexit to influence UK regulation in 2021

Significant macroeconomic headwinds including a Covid-19-induced recession, mounting debt and the end of the Brexit transition period will impact all areas of financial services in 2021, meaning plenty more work for compliance departments over the course of 2021. By Frank Brown, risk and transformation practice lead at Bovill.

Rory Green

China gears up for launch of digital currency – with global implications

Residents of Suzhou, an ancient city in the Yangtze Basin, recently pioneered China’s new digital currency – and banks and fintechs are taking note. 

2021

Global regulation in 2021: reaction, reflection and a return to priorities

The year 2020 defied expectations and saw disruption to both financial markets and regulatory agendas. As the world recovers, 2021 is shaping up to be defined by continued regulatory reactions to the Covid-19 pandemic, and geopolitical changes such as the UK’s exit from the EU. 

Seismic changes

Financial firms will have to adapt to seismic changes this year

The year 2020 generated seismic shifts in the structure of markets, ways of working, the landscape of risks and paths of recovery. Harnessing these requires firms to prioritise a purposeful recovery, resilience and restructuring in the year ahead. By Adam Markson, head of UK and Ireland risk practice at Accenture.

Rick Watson

FSB warns of climate change threat to financial stability

Policy-makers and their advisers have at last recognised the implications of climate change on financial stability, marking a sea change in political sentiment on this issue. By Victor Smart