Latest articles from Justin Pugsley

SEC consults on ESG disclosure standards for listed companies

Acting chair of the US Securities and Exchange Commission (SEC), Allison Herren Lee, said the agency is consulting on its rules to facilitate the disclosure of consistent, comparable and reliable information on climate change by domestic and foreign companies listed on US exchanges.

CFTC looks to recruit derivatives markets for climate change battle

The US Commodity Futures Trading Commission (CFTC) is following in the footsteps of other US regulatory agencies, such as the Federal Reserve Board, with the set-up of a climate risk unit (CRU). This new division will focus on the role of derivatives in helping the transition to a low-carbon economy.

Swiss systemic firms improve resolvability, but more work needed

Swiss systemically important financial institutions have been making good progress in their recovery and resolution planning according to an annual report from the Swiss Financial Market Supervisory Authority (FINMA) published on March 19.

Stephan Dreyer

Industry readies for release of new identifier for digital assets

Industry demand is driving the need for a new type of identifier, and one which looks specifically at digital assets

Restrictions on shareholder payouts to end on June 30 for most banks

Temporary restrictions on bank holding companies making shareholder payouts will end for most firms on June 30, following the outcome of the upcoming stress tests, the Federal Reserve Board said in a statement on March 25. 

US agencies querying financial institutions over their use of artificial intelligence

Financial institutions are being asked about how they use artificial intelligence (AI) by five US federal regulatory agencies, which are seeking more detail over how the technology is employed in areas such as fraud prevention, personalised customer services and credit underwriting. 

Mark Branson to head BaFin this summer

Germany’s embattled regulator, the Federal Financial Supervisory Authority (BaFin) is to get Swiss Financial Market Supervisory Authority (FINMA) CEO Mark Branson as its new head this summer as part of its makeover. 

UK financial firms to explain IT failure recovery plans by March 2022

By March 31, 2022, financial firms in the UK should be able to explain how fast critical parts of their businesses could recover from IT failures and other operational issues and how they would minimise the impact.

Thomas Vita

Limited room to reform UK regulatory regime

Following statements by officials and various reports, clues are emerging over the future shape of the UK’s regulatory framework.

FSB to publish recommendations to strengthen money market funds

The Financial Stability Board (FSB) will make recommendations to make money market funds (MMF) more resilient so they do not need public sector support next time markets are in turmoil as happened last March due to the Covid-9 pandemic, said Federal Reserve Board vice chair for supervision and FSB chair, Randal Quarles.