Europe

Market Infrastructure

ESMA to Simplify Cash Penalties Process Under CSDR

By Editors | 24/11/2022

The amendments simplify the cash penalties process by putting CSDs in charge of collection and distribution, including for CCP-cleared transactions.

Market Infrastructure

UK FCA Publishes Consultation on Synthetic USD LIBOR

By Manesh Samtani | 24/11/2022

The FCA proposes that the 1-, 3- and 6-month USD LIBOR settings will be published under a synthetic methodology until end September 2024.

ESG / Sustainability

FCA Forms Group to Develop ESG Ratings Code of Conduct

By ESG Investor | 23/11/2022

The UK FCA  has announced the formation of a group to develop a new code of conduct for ESG data and ratings providers.

ESG / Sustainability

ESMA Proposes New Rules for ESG and Sustainability Labelled Funds

By Sanday Chongo Kabange | 21/11/2022

A fund with ESG-related terms in its name will have to use at least 80% of its investments to meet environmental or social characteristics or sustainable investment objectives.

AML / KYC

UK Parliamentary Report Calls for Overhaul of Approach to Fraud

By Manesh Samtani | 21/11/2022

The report says “failure to prevent fraud” should be introduced as a new corporate criminal offence, along with significant financial penalties.

AML / KYC

Western Allies Sanction Iran Over Protest Handling, Drone Sales

By Editors | 18/11/2022

The EU, UK, US and Canada imposed sanctions over the use of use of force against peaceful protestors and the sale of drones to Russia.

ESG / Sustainability

EU Firms Face Streamlined Sustainability Reporting Regime

By ESG Investor | 18/11/2022

Following MEP backing for CSRD, disclosure requirements for the largest companies will go live from 2024.

ESG / Sustainability

EU Watchdogs Ask for Input on Greenwashing Risks

By ESG Investor | 16/11/2022

The feedback may lead to further supervisory or enforceable action to reduce greenwashing risks; ESAs also call for an extension to the PAI review.

Securities / Derivatives

ESMA Recognises Bursa Malaysia Derivatives Clearing as TC-CCP

By Editors | 16/11/2022

The recognition will make it easier and more cost-effective for European counterparties to access Malaysia’s derivatives market.