IOSCO calls for oversight of ESG Ratings
  • Thursday, 17 February 2022

IOSCO calls for oversight of ESG Ratings

The International Organization of Securities Commissions (IOSCO) published a set of recommendations for ESG Ratings and Data Product Providers. The market for ESG ratings and data has grown over the past few years, in part due to a lack of consistent information disclosures at the entity level. To increase the trust and transparency of the […]

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Alignment of supervisory practices regarding liquidity risk
  • Thursday, 17 February 2022

Alignment of supervisory practices regarding liquidity risk

The European Banking Authority (EBA) launched a public consultation on its draft Regulatory Technical Standards (RTS) and draft guidelines regarding liquidity requirements for investment firms. These are subject to national competent authorities’ assessment regarding various aspects of liquidity risk, such as liquidity concerns stemming from trading activities or external events affecting liquidity. The aim is […]

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SFDR phase II delayed until 2023
  • Thursday, 17 February 2022

SFDR phase II delayed until 2023

Due to the length and technical details of the (draft) regulatory technical standards (RTS) of the Sustainable Finance Disclosure Regulation (SFDR) the European Commission decided to postpone the application until 1 January 2023. The RTS consist of 13 standards containing more prescriptive details regarding the implementation of the regulation for asset managers. Asset managers will […]

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EIOPA consults on application of climate change risk scenarios in the ORSA
  • Thursday, 17 February 2022

EIOPA consults on application of climate change risk scenarios in the ORSA

EIOPA is seeking consultation regarding the practical application to implement sustainable finance ambitions in the Own Risk and Solvency Assessment (ORSA). The (re)insurance industry is exposed to predominantly physical and transitional climate change risks. Concrete case studies and climate change scenarios should lower the implementation costs for an insurer and increase comparability amongst reports. The […]

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Insurers could face climate stress tests in 2023
  • Thursday, 17 February 2022

Insurers could face climate stress tests in 2023

At a recent conference, Petra Hielkema, chairperson of the European Insurance and Occupational Pension Authority (EIOPA), indicated that insurers could face climate stress tests as soon as 2023. With these stress tests, EIOPA hopes to gain more insight into the potential impact of climate change risks. It will however not result in additional capital requirements. […]

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