On 15 November 2022, the Financial Stability Board (FSB) and Network for Greening the Financial System (NGFS) published their initial findings and lessons from the Climate Scenario Analysis by Jurisdictions.
The report provides a synthesis of the findings from climate scenario analysis exercises undertaken by financial authorities at the individual firm
On 14 November 2022, HM Treasury published an updated advisory notice on money laundering and terrorist financing controls in high-risk third countries.
The advisory notice identifies the following countries for which appropriate actions should be taken to minimise the associated risks and these actions may include enhanced due diligence in high risk situations:
Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here.
Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has
On 14 November 2022, the European Banking Authority (EBA) published an updated version of its Questions and Answers (Q&As) on the PRIIPs key information document.
The Q&As have been updated in respect of:
On 14 November 2022, the Financial Stability Board (FSB) published ‘Financial policies in the wake of COVID-19: supporting equitable recovery and addressing effects from scarring in the financial sector’.
The final report considers exit strategies through the lens of financial stability and the capacity of the financial system to finance strong and
On 14 November 2022, HM Treasury published an updated advisory notice on money laundering and terrorist financing controls in high-risk third countries. The updated advisory notice follows the Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No.3) Regulations 2022 which came into force on 7 November 2022 and substitutes the list of high-risk third countries
On 28 October 2022, the Bank of Italy (“BoI”) issued a communication (“Communication”) on Buy Now Pay Later schemes (“BNPL”) to draw the attention of consumers on the prevalent forms of BNPL on the Italian market, the related potential risks and the means of protections afforded to customers by
We have published a new briefing note, Spotlight on the Appointed Representatives regime: what you should be doing now. This briefing note follows our first briefing note on the revised Appointed Representatives regime.
In this briefing note, we have focussed on five key areas including where the FCA has revised its original consultation proposals.
On 11 November 2022, the Financial Stability Board (FSB) published a letter from its Chair, Klaas Knot, to G20 leaders ahead of their Summit in Bali on 15-16 November.
The letter sets forth that developments since the Rome Summit have been a stark reminder that global financial stability should not be taken for
October has been a busy month for regulators with both ASIC and APRA releasing their reports on the 2021/22 financial year. The chairs of both regulators, in addressing the House of Representatives, signalled their progress in the past year and their goals for the year ahead.
The month of October 2022 also saw both ASIC