Europe

Capital / Liquidity

BOE’s Woods Proposes Simplified Bank Capital Framework

By Manesh Samtani | 28/04/2022

The hypothetical framework would replace the current set of buffers with a “single, releasable buffer of common equity”, sitting on top of a low minimum requirement.

ESG / Sustainability

New UK Taskforce to Set Standards for Climate Transition Plans

By Editors | 27/04/2022

The taskforce will develop policy recommendations, sector-specific transition planning templates and guidance, and measures to tackle greenwashing.

Securities / Derivatives

LME to Cease Trading in Gold, Silver Futures in July

By Editors | 27/04/2022

The LME said the decision was made following discussions with market participants and “in light of the low levels of trading activity”.

AML / KYC

FCA Directs Challenger Banks to Bolster FCC Controls

By Editors | 26/04/2022

The FCA said it found weaknesses relating to customer due diligence, risk assessment, management of transaction monitoring alerts, and SAR quality.

AML / KYC

European Crypto Firms Push Back Against Proposed Regulations

By Editors | 24/04/2022

Crypto firms say requiring them to disclose transaction details and wallet addresses will undermine the privacy and safety of digital asset owners.

ESG / Sustainability

UK FCA Finalises Rules on Board Diversity Disclosure, Targets

By Editors | 21/04/2022

At least 40 percent of the board, and at least one senior position, should be held by women. Disclosures requirements apply for accounting periods starting 1 April 2022.

AML / KYC

OFAC Sanctions Russian Crypto Miners, UK Targets Military

By Manesh Samtani | 21/04/2022

OFAC designated Russian crypto miners and a bank offering sanctions evasion services. The UK sanctioned Russian generals and others supporting the military.

Capital / Liquidity

UK Regulators Warn Banks Against ‘Gaming the Rules’

By Editors | 18/04/2022

The warning is reportedly directed at Barclays, the only UK lender that used its pension scheme for capital arbitrage transactions in recent years.

ESG / Sustainability

European Commission Consults on ESG Ratings Market

By Editors | 13/04/2022

The consultation will feed into an impact assessment being prepared this year to evaluate whether a policy initiative on ESG ratings is needed.