On April 23, the Financial Conduct Authority (FCA) published a new webpage on its strategic approach to climate change and sustainable finance.
The FCA explains it will continue to broaden and deepen its sustainable finance strategy, which is based on the themes of transparency, trust, and tools, as set out in its previous feedback statement (FS19/6).
Continue Reading FCA Webpage on Climate Change and Sustainable Finance
At an open meeting on July 22, the Commodity Futures Trading Commission heard presentations on three proposals for changes to the margin requirements for uncleared swaps. The proposed changes, which originate from recommendations made by the Margin Subcommittee of the CFTC Global Markets Advisory Committee (GMAC), are as follows:
Continue Reading CFTC Proposes Margin Requirements for Uncleared Swaps
On June 25, the five prudential regulators responsible for the margin rules for bank swap dealers (the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Farm Credit Administration and the Federal Housing Finance Agency) adopted one final rule and one interim final rule that modify their original framework for margining uncleared swaps.
Continue Reading Prudential Regulators Revise Initial Margin Rules for Uncleared Swaps
On May 28, the Commodity Futures Trading Commission (CFTC) held an open meeting to consider staff recommendations regarding amendments to two CFTC regulations. Both recommendations were approved by a unanimous 5-0 vote. Neither staff document is currently available.
Continue Reading CFTC Holds Open Commission Meeting
On April 14, the International Organization of Securities Commissions (IOSCO) published a final report on sustainable finance and the role of securities regulators and IOSCO (the Report).
In the Report, IOSCO provides an overview of the current sustainable finance initiatives taken by regulators and the industry. The Report also includes a detailed analysis of the most relevant environmental, social and governance related international initiatives, and third-party frameworks and standards.
Continue Reading ESG: IOSCO Publishes Report on Sustainable Finance and the Role of Securities Regulators and IOSCO
On Friday, April 3, the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) announced another delay in the implementation of the global implementation of mandatory initial margin for uncleared swaps. The initial margin compliance date for Phase 5 will now be September 1, 2021. The compliance date for Phase…
On April 3, the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commission (IOSCO) published a statement to delay the implementation of the final two phases of margin requirements for non-cleared derivatives by one year due to the COVID-19 pandemic (the Statement).
Continue Reading BCBS and IOSCO Delay Non-Cleared Margin Rules
On February 12, the International Organization of Securities Commissions (IOSCO) published its final report on “Issues, Risks and Regulatory Considerations Relating to Crypto-Asset Trading Platforms (CTPs)” (the Final Report). The Final Report follows a consultation paper IOSCO published in May 2019 (for more information, please see the June 14, 2019 edition of Corporate & Financial Weekly Digest).
Continue Reading IOSCO Reports on Crypto-Asset Trading Platforms
On February 6, the European Securities and Markets Authority (ESMA) published its Strategy on Sustainable Finance (the Strategy). This continues work initiated by the European Commission (the Commission) concerning sustainable finance and the incorporation of environmental, social and governance (ESG) factors into European financial services (for more information, please see the January 10 edition of Corporate & Financial Weekly Digest).
Continue Reading ESG: ESMA Publishes Strategy on Sustainable Finance
On September 17, the directors of the Federal Deposit Insurance Corporation (FDIC) approved a joint notice of proposed rulemaking (NPR) with respect to the prudential regulator margin rules for non-cleared swaps. The joint form of the NPR indicates that the other prudential swap regulators (the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Farm Credit Administration and the Federal Housing Finance Agency) will all be approving the same NPR in the near future.
Continue Reading FDIC Proposes Amendments to Prudential Regulator Swap Margin Rules
