On 14 January 2025, the Financial Stability Board (FSB) issued a report on The Relevance of Transition Plans for Financial Stability.
Background
The report looks at the role that financial and non-financial firms’ transition plans can play for financial stability assessments, in particular as a source of information for monitoring climate-related financial
On 13 December 2024, the Bank of England (BoE) issued a consultation paper setting out proposals for a set of requirements in rules and a code of practice and expectations for UK financial market infrastructures (FMIs) to report operational incidents and their material third-party arrangements.
Rationale
The proposals in the consultation
On 4 December 2024, the Financial Stability Board (FSB) issued a press release following its plenary in Hong Kong on 3 and 4 December.
Key points from the press release include that the FSB:
On 21 November 2024, the International Organization of Securities Commissions (IOSCO) issued a consultation report on pre-hedging.
Definition
For the purposes of the consultation report, IOSCO proposes to define pre-hedging as “trading undertaken by a dealer, in compliance with applicable laws and rules, including those governing frontrunning, trading on material non-public information/insider dealing
On 18 November 2024, the Financial Stability Board (FSB) issued its 2024 annual report which looks at progress in implementing the G20 reforms and outlines action to be undertaken in 2025.
The annual report notes that certain long-standing financial system vulnerabilities remain, and these include:
In this new edition of Regulation Around the World we review the UK Financial Conduct Authority’s (FCA) Consumer Duty (UK Consumer Duty) and see if other international financial services authorities have already got similar concepts in their frameworks; or whether the UK Consumer Duty not only sets a new UK standard
In our latest podcast, our global Financial Services team discusses promotional messages on social media platforms, covering recent regulatory and enforcement developments in the UK, US and Dubai, as well as practical steps that global firms can be taking now in this area to manage their risk.
Listen to the episode here.
This is
Australia has one of the broadest prohibitions on insider dealing in financial products in the world.
The Australian Securities and Investments Commission (ASIC) oversees and regulates activity on the Australian Securities Exchange (ASX). Manipulation in energy and commodities derivatives markets was an ASIC specific enforcement priority for 2023 – earlier this
The EU Listing Act (the Listing Act), adopted by the European Parliament on April 24, 2024, introduces several significant changes to the Market Abuse Regulation (MAR) and other related financial regulations to reduce burdens on listed companies and to make public markets more attractive by simplifying regulatory requirements and reducing costs (with
For those not familiar with it, let’s start with some basics. The European Union’s (EU) market abuse regime consists of two pieces of legislation, the Market Abuse Regulation (MAR), directly applicable across Member States, and the Market Abuse Directive on criminal sanctions for market abuse (CSMAD). The CSMAD essentially