Europe

AML / KYC

FATF Re-rates UK for Progress on Correspondent Banking

By Editors | 14/06/2022

The FATF also commends the UK for progress made to expand its FIU’s ability to conduct operational analysis.

ESG / Sustainability

UK, Japan Formalise Arrangements on Regulatory Cooperation

By Editors | 13/06/2022

UK and Japan participants agreed to establish an innovation working group to provide a space for collaboration on payments, cryptoassets and financial innovation.

Crypto / Digital Assets

BOE Publishes Primer Explaining Plans for Possible CBDC

By Editors | 09/06/2022

The BOE will seek views from the public later this year about the possible issuance of a CBDC in the “second half of the decade” at the earliest.

ESG / Sustainability

EU ETS Reform Proposal Falls at Parliamentary Hurdle

By ESG Investor | 09/06/2022

Some MEPs argued this would result in more emissions in the short term, choosing to vote down the “weaker” proposal altogether, causing delays.

ESG / Sustainability

EU Lawmakers Agree Gender Diversity Directive

By Editors | 08/06/2022

The law will require EU listed companies to have women take up at least 40% of non-executive board seats, or 33% of all director posts, by mid-2026.

Securities / Derivatives

LME Hit with Lawsuits Over Nickel Trade Cancellations

By Editors | 07/06/2022

Judicial review claims from Elliott Associates and Jane Street Global Trading challenge LME’s decisions to cancel nickel trades in March.

AML / KYC

EU Proposes to Make AML Compliance a Licence Condition

By Editors | 05/06/2022

EBA, EIOPA and ESMA propose that AML/CTF compliance be a specific requirement for firms, including crypto firms, to obtain and maintain their licences.

Big Picture

ESG Ratings Diverge Substantially, with Real-Economy Impact

By ESG Investor | 04/06/2022

Analysis across KLD, Sustainalytics, Moody’s ESG, S&P Global, Refinitiv and MSCI finds significant differences in how indicators are measured.

ESG / Sustainability

ESMA Issues Supervisory Guidance on Greenwashing in Funds

By Editors | 04/06/2022

ESMA says administrative measures, including enforcement, may be appropriate in cases where SFDR disclosures are misleading or do not match fund documentation.