Reporting and GovernanceRSS
Carl Ireland

Complex regulatory challenges loom for UK bank risk models

The Bank of England’s planned development of UK regulatory initiatives continued in June 2022 with the Prudential Regulation Authority’s release of CP6/22, “Model risk management principles for banks”. This will have considerable impact on how banks conduct risk modelling.

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. 

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. 

James Norden

ESG in focus for 2022 proxy season

As the dust settles on the 2022 proxy season, the time is ripe for banks and other financial services institutions to explore investor sentiment arising from the annual roundtables.

Sebastian Barling

Basel Committee seeks more consistency around bank climate actions

The Basel Committee’s paper on climate change might lack ambition by the standards of European initiatives, but it may nudge the rest of the world in the direction of sustainability, and thereby ensure a more level playing field globally.

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.

Manoj Mistry

Celsius blow-up highlights areas for improving crypto lending platforms

The volatile performance of cryptocurrencies has made significant headlines over the past year. This is hardly surprising given that bitcoin, easily the best-known crypto, has fallen by 70% in value since reaching its peak last November.

Felicity Hall

Onus on ESG funds to clean up act or face regulatory enforcements

Amid fears that a wave of greenwashing scandals could break, global regulators have launched a multi-layered strategy to combat mis-selling, spearheaded by dramatic enforcement actions that may yet target individuals.

OCC warns that banks face elevated risks

Banks face a phalanx of risks ranging from high inflation, rising interest rates, operational issues related to an increasingly complex environment and compliance challenges, but at least credit risks are low for the time being, said the Office of the Comptroller of the Currency (OCC). 

Basel Committee published 18 principles for tackling climate-related financial risks

Jurisdictions are expected to apply as soon as possible 18 principles related to climate risks for banks drafted by the Basel Committee on Banking Supervision.