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Basel focuses on pay in new climate risk standards

Internationally active banks should align their pay with climate risk, the Basel Committee on Banking Supervision has said, as it issues its final rulebook on the subject.

17 June 2022

Hong Kong’s securities regulator seeks expanded enforcement powers

The Securities and Futures Commission in Hong Kong has asked for increased enforcement powers in newly-proposed amendments to the city's securities legislation.

17 June 2022

UK regulators’ horizons reach the cloud under Treasury plans

The UK government has proposed expanding its financial regulators’ powers over third party providers including cloud-based data centres.

15 June 2022

The green bubble: why BIS thinks we can’t rely on banks to drive a transition

In a new paper, senior figures at the Bank for International Settlements say it is “unrealistic” to expect the banking industry to provide resources for a green transition in the absence of government policy.

15 June 2022

Three major UK banks falling short with resolution plans, BoE says

The Bank of England has found “shortcomings” in three major UK banks’ resolution plans, despite finding those same banks are no longer “too big to fail”.

13 June 2022

FinCEN consults on potential no-action letter process

The US Treasury’s financial crime enforcer is considering expanding its discretionary repertoire to include no-action letters in cases of compliance failure.

13 June 2022

“A big first step”: Lummis-Gillibrand proposes CFTC as primary crypto regulator, seeks automatic Fed accounts for fintechs

A bipartisan crypto bill, coming to the US Senate just weeks after the Terra stablecoin crash, looks set to re-energise the conversation around crypto regulation as market participants both applaud and decry its proposals.

10 June 2022

New York regulator issues stablecoin reserve guidance

New York’s state financial regulator has specified standards for stablecoin reserves, in the first guidance to be released in the US since the Luna-Terra crash.

10 June 2022

EU pilots crypto regulatory exemption regime

After a two-year legislative process, the European Union has finally piloted an “out of character” EU-wide sandbox that will grant some crypto firms “momentous” regulatory exemptions.

08 June 2022

Chinese regulator releases “milestone” green finance guidelines

China’s principal banking regulator has issued a “very specific” rulebook for banks’ green finance activities.

08 June 2022

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