The Swiss Financial Market Supervisory Authority (FINMA) has cracked down on HSBC Private Bank (Suisse) SA for serious violations of anti-money laundering laws involving two politically exposed persons (PEPs).
The Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR), France's financial regulators, have published their 4th annual report assessing climate commitments made by banks, insurers and asset managers in the Paris financial center.
The Office of the Comptroller of the Currency (OCC) has released its Semiannual Risk Perspective for Spring 2024, identifying several critical issues facing the federal banking system. Despite the overall stability of the banking system, the OCC warns that a maturing economic cycle could bring significant consumer challenges. To mitigate these risks, the OCC urges banks to enhance their risk management practices and avoid complacency.
Today, the three European Supervisory Authorities (ESAs)—the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA)—published a joint Opinion on the Sustainable Finance Disclosure Regulation (SFDR). This collective assessment calls for a more coherent sustainable finance framework that supports the green transition while enhancing consumer protection, based on insights gained from the current functioning of the SFDR.
The Public Company Accounting Oversight Board (PCAOB) announced today that it is sanctioning three accounting firms - KKM CPA Associates PLLC, BDO Chartered Accountants & Advisors, and De Visser Gray LLP - for violating rules and regulations by failing to comply with PCAOB reporting requirements.
Companies are anticipating business upsides as they prepare to comply with the European Union's Corporate Sustainability Reporting Directive (CSRD), even as they grapple with major operational hurdles, according to a new global survey by PwC.
The Council of the European Union has adopted its negotiating stance on proposed EU legislation aimed at combating greenwashing and ensuring environmental marketing claims about products and services are accurate and verifiable.