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Credit Suisse fined in Swiss money laundering case

A Swiss court has fined Credit Suisse over deficiencies in its anti-money laundering controls dating back to 2007.

29 June 2022

US regulators trailing peers on climate risk, says Ceres

The United States’ financial regulators have made “significant progress” to address the systemic impacts of climate risk, but still “lag far behind” their foreign counterparts, according to a recent report by a financial services-focused sustainability group.

29 June 2022

UK industry body calls for AI fairness guidance

The UK’s largest banking association has called on regulators to issue fairness guidance for artificial intelligence.

27 June 2022

A relentless rush of radical rulemakings? SEC’s Peirce critiques new SEC regulatory agenda

The US Securities & Exchange Commission has rolled out a “crammed” agenda for the next six months, but a frequent dissenting commissioner has said the regulator is straying from its core mission in favour of “shiny objects”.

27 June 2022

“Not enthusiastic, to put it mildly”: digital euro plans face public unease

The European Commission’s consultation on a potential digital euro has now closed, but responses show widespread opposition to the suggestion of a European CBDC.

23 June 2022

ECB’s Elderson addresses “laggard” banks on climate efforts

European banks are not making progress across the board and showing “several inconsistencies” in their efforts to account for climate risks, according to the vice chair of the European Central Bank’s supervisory board.

23 June 2022

Industry reacts to “arbitrary and capricious” SEC climate proposal

Industry stakeholders have given a broadly hostile response to the US Securities and Exchange Commission’s climate disclosure proposal, saying its move away from a principles-based approach is “dramatic and unwarranted”.

22 June 2022

Russia turns to blockchain-powered ledger following SWIFT ejection

Practitioners have expressed doubts over Russia’s blockchain-based “alternative” for the SWIFT payments network from which many of the country’s banks have been excluded since the invasion of Ukraine.

22 June 2022

EU’s new AML regulator a “risky endeavour”, ACAMS conference told

The European Commission’s plan for  a bloc-wide anti-money laundering authority is a “risky endeavour” and its wider legislative package falls short on effectiveness, according to a senior figure at Dutch bank ABN Amro.

20 June 2022

Sweden’s FI chief to lead central bank

The long-serving director-general of Sweden’s financial regulator has been appointed as the next governor of its central bank.

20 June 2022

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