International

Credit Risk

Model Risk Heightened in Current Credit Environment: BCBS

By Manesh Samtani | 05/07/2023

Model and data limitations are making it more difficult for banks to capture credit quality deterioration, which may lead to higher future bank losses and capital inadequacy, the BCBS says.

Data Privacy

European Commission Proposes Rules to Enhance GDPR Enforcement Efficiency

By Editors | 04/07/2023

The GDPR Procedural Regulation aims to streamline cooperation between data protection authorities by harmonising some administrative procedures in cross-border cases.

Climate Risk

Systemic, Firm, and Human Capital Implications of Climate Transition

By Siva Ramachandran | 04/07/2023

Siva Ramachandran and Phoebe Chan discuss the key implications of the global transition journey at the systemic, firm, and human capital levels.

Structural Regulation

IOSCO Declares Certain Credit Sensitive Rates Non-Compliant

By Manesh Samtani | 04/07/2023

IOSCO’s statement comes after the final five settings of USD LIBOR were published for the last time on Friday, marking the end of a more than 50 year old benchmark.

Trading & Investment

FCA Boosts Pension Scheme LTAF Access

By ESG Investor | 03/07/2023

The UK has set out rules to provide retail investors with access to Long Term Asset Funds (LTAFs).

Payments & Settlements

EU Proposes Measures to Enable ‘Open Finance’ and Tackle Payments Fraud

By Editors | 02/07/2023

Payment service providers will gain a legal basis to voluntarily share payment fraud related information via dedicated IT platforms.

Anti-Money Laundering

Consultation Opens on Revisions to FATF Standards for NPOs

By Editors | 01/07/2023

The proposed amendments seek to address issues related to the over-application of preventive measures to the NPO sector, which hinders genuine non-profit activity.

Reporting & Disclosures

VCMI Introduces Carbon Offset Rules

By Ranamita Chakraborty | 30/06/2023

Companies must choose carbon credits that meet strict quality thresholds aligned with the Integrity Council for Voluntary Carbon Markets Core Carbon Principles to make climate claims under the new VCMI rules.

CBDCs

EU Commission Issues Legislative Proposal to Introduce CBDC

By Editors | 29/06/2023

The ECB will decide whether to move to the next phase of the project after its investigation phase is concluded in October.