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Market Infrastructure
China, EU Publish Common Sustainable Finance Taxonomy
By Manesh Samtani | 05/11/2021
The PBOC says the common taxonomy will help promote China-EU green investment and financing cooperation and cross-border activities, while reducing the cost of green certification.
Capital / Liquidity
UK Postpones Consultation Signalling Basel III Implementation Delay
By Editors | 03/11/2021
Implementation of the final Basel III requirements will not take place in the UK according to the globally agreed timeline.
ESG / Sustainability
UK Climate Reporting Legislation for Companies “Lacks Ambition”
By ESG Investor | 03/11/2021
The existing scope of companies falling under new requirements is too narrow and TCFD alignment not close enough, says ClientEarth.
Big Picture
UK Considers Use of Climate Risk Capital Buffers
By Editors | 31/10/2021
The Bank of England is exploring whether to use capital add-ons or scalars to address weaknesses in climate risk management.
Capital / Liquidity
EU Defers Full Basel III Implementation to January 2025
By Manesh Samtani | 29/10/2021
The EU’s Basel III package of rules includes requirements for banks to under climate stress testing as well as identify, disclose and manage ESG risks.
Fintech / Regtech
S&P-IHS Deal Wins Regulatory Approval in Europe
By Ranamita Chakraborty | 28/10/2021
The European Commission accepted commitments by S&P Global and IHS Markit to divest businesses that raised competition concerns.
Market Infrastructure
EBA Clearing, SWIFT, TCH Collaborate on Cross-Border Payments
By Mark Johnston | 12/10/2021
A POC has been completed that uses existing payment systems in the US and Europe to achieve synchronised settlements in cross-border payments.
AML / KYC
Germany’s BaFin Fines N26 Over Weak AML Controls
By Editors | 07/10/2021
The €4.25mn fine was paid in July but only made public by BaFin on 29 September. N26 says it already addressed the problems.
Market Infrastructure
EDPB Issues Opinion on Adequacy of Korea Data Protection Regime
By Editors | 07/10/2021
The EDPB says Korea’s data protection framework presents “numerous similarities” to Europe’s, but certain aspects may require “a closer look and clarification”.
Market Infrastructure
FCA Consults on Permitted Use of Synthetic LIBOR Rates
By Manesh Samtani | 29/09/2021
The FCA proposes to permit legacy use of synthetic GBP and JPY LIBOR in all contracts except cleared derivatives for the duration of 2022.
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