Operational resilience: developments in the financial services sector in the UK - In recent years, operational resilience has come under the spotlight of financial regulators globally,.
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EU sustainable investment rules need better corporate data: banking report
European Union rules aimed at defining sustainable investments should help reduce “greenwashing” by businesses, but better quality corporate data is needed to ensure they work effectively, a banking report said.
The sustainable finance rules will classify investments that can be marketed as sustainable, a move aimed at steering much-needed cash into low-carbon projects to deliver the bloc’s climate goals.
From January to August 2020, 26 of the region’s biggest lenders tested the EU framework across a range of core banking processes, including retail banking, trade finance and lending to smaller companies.
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Recent regulatory developments of interest to insurers and their intermediaries. See also our General regulatory news in the Related Materials links.
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COVID-19: Supreme Court judgment in FCA s BI insurance test case
On 15 January 2021, the Supreme Court handed down judgment in FCA v Arch Insurance (UK) Ltd and others [2021] UKSC 1 on the issues on appeal from the High Court in the test case brought by the FCA seeking legal clarity on the meaning and effect of certain non-damage business interruption (BI) insurance policy wordings. The FCA has published a press release and updated its dedicated webpage on the test case to summarise the key aspects of the judgment and outline the next steps.
European Union rules aimed at defining sustainable investments should help reduce "greenwashing" by businesses, but better quality corporate data is needed to ensure they work effectively, a banking report said on Tuesday.