Topic: International cooperation

ISSB issues draft global sustainability disclosure standards

The global climate finance standard setter, established by the IFRS at last year’s COP26 summit, has proposed its first climate related disclosure standards.

04 April 2022

Climate risk measures are fragmenting across the globe, industry bodies warn

As climate consultations from the OCC and the BCBS drew to an end this week, industry bodies have warned their respective proposals could create a “fragmented” climate risk landscape and funnel too many regulatory resources towards uncertain and disparate climate requirements.

16 February 2022

US Treasury will pilot sharing suspicious transaction data with foreign affiliates

The United States’ Financial Crimes Enforcement Network has called on banks to share data on suspicious financial activity with their foreign branches, something that industry players have so far welcomed.

27 January 2022

EBA gets international pushback on third country equivalence

Banking associations from Japan, the United States and Switzerland have criticised post-Brexit proposals by the European Banking Authority to centralise equivalence assessments for non-EU banks’ local branches within the bloc.

22 September 2021

Qatar wins PwC report disclosure in market manipulation conspiracy claim

A report prepared for a regulator’s investigation of alleged market manipulation in aid of the 2017 blockade against Qatar does not have litigation privilege, an English court has ruled, granting a disclosure request from the state in its ongoing dispute with Luxembourg’s Banque Havilland.

19 August 2021

UK-based foreign banks face new information rules

The Prudential Regulation Authority has made changes to proposed regulations for international banks operating in the UK after consultation feedback urged against burdensome information requirements.

28 July 2021

Hogan Lovells-IRSG report calls for greater “openness” in UK regulation

UK regulation should display greater “openness” to overseas firms, while its overseas persons exclusion should be “rationalised and simplified”, according to a new report published by Hogan Lovells and the City of London.

12 July 2021

National authorities must cooperate more, say EBA standards

The European Banking Authority has finalised its standards for supervisory colleges to coordinate national regulators’ supervision of investment firms operating within multiple EU member states.

07 July 2021

TIGRR report targets EU-legacy regulation

A government taskforce formed to revamp UK regulation post-Brexit has recommended dumping EU rules for a less prescriptive common law approach – including a more aggressive transition to open banking, a hybrid CBDC and a “graduated” capital requirements regime for challenger banks.

21 June 2021

Basel urges strict “cliff edge” two-tier cryptoasset regulation

Banks with cryptoasset exposure will be heavily regulated – and have to maintain the full value of crypto held – under new proposals from the Basel Committee, which predict increasing risk to banks from the volatile assets.

14 June 2021

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