The PRA expands its supervisory expectations for firms on managing climate-related financial risk — publishing a Dear CEO guidance letter. By Nicola Higgs and Anna Lewis-Martinez On 1 July 2020, the PRA published guidance in the form of a Dear CEO letter to banks, insurers, and other PRA-regulated firms on managing climate-related financial risk. The … Continue Reading
The CFRF’s practical Guide encourages UK regulated financial services firms to take active steps to manage climate-related financial risks. By Paul Davies, Nicola Higgs, Sherryn Buehlmann and Anna Lewis-Martinez Background On 29 June 2020, the Climate Financial Risk Forum (CFRF) launched its guide to climate-related financial risk management (Guide) that will be useful for financial … Continue Reading
Regulators seek to expand market connectivity for wealth management products and enhance financial institutions’ environmental risk management. By Farhana Sharmeen, Simon Hawkins, Kenneth Hui, and Marc Tan This blog post summarises key regulatory developments in Hong Kong and Singapore during June 2020, including: The announcement of a new “Wealth Management Connect” mutual market access project … Continue Reading
The delay may complicate the regulatory landscape for sustainable finance as the EU moves toward a standardized classification system. By Paul A. Davies, Nicola Higgs, and Michael D. Green The UK government (government) has delayed a decision on whether it will adopt the EU’s taxonomy of sustainable finance activities (the Taxonomy) as the UK approaches the end of … Continue Reading
A summary of key COVID-19-related measures announced by the UK government to support businesses and workers. By Rob Moulton and Anna Lewis-Martinez Starting with the budget on 11 March 2020, the UK government has outlined significant measures to support British businesses and workers on an unprecedented scale during the COVID-19 outbreak. These measures include: the … Continue Reading
