• Investopia

Signing A Memorandum of Understanding with Investopia

In January, City Week’s CEO, Maurice Button, was delighted to sign a Memorandum of Understanding with Investopia the UAE Government’s think tank and global investment platform, in order to explore how the two can work together to their mutual benefit.

Given the complementary nature of the two platforms, there is significant opportunity to support each other’s activities. We are honoured to have entered into this MoU with Investopia.

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  • Euroclear

UK digitisation - how FMIs can play their part

In a bid to enhance London’s position as a premier centre for capital raising, an ambitious digitisation agenda has been proposed, including the dematerialisation of paper share certificates, discontinuation of dividend payments by cheques as well as improvements in shareholder rights and communications.

Citi UK

Following the Rules

CEO Tiina Lee, Nationwide CEO Debbie Crosbie and Howden CAP’s executive chair Mary O’Connor outline how finance companies can best set, monitor and promote their purpose as an organisation.

Today’s episode is a little different to normal. It is a recording of a recent panel discussion from City & Financial Global’s ninth annual 'Culture and Conduct Forum for the Financial Services Industry'. I was invited to moderate a panel on moral capitalism and we discussed how financial services can best link their profits with their purpose, how the newest intake of graduates is influencing firms decisions as they define and promote their purpose internally and externally, the transition to net zero and plenty more in between. I hope you enjoy it.

KPMG

A plea for action on climate in action: Implications of the IPCC’s warnings

On 20 March, the IPCC concluded its Sixth Assessment Reporting cycle (AR6), which kicked off after the Paris Agreement, by publishing its final Synthesis Report. AR6 will very likely be the last comprehensive IPCC report before 2030, after which time limiting warming to 1.5°C may be impossible. It is therefore imperative that all stakeholders take action based on the content of this report.

KPMG

Towards integrated climate-nature risk disclosures

In December, representatives from many governments around the world gathered in Montreal to agree a new Global Biodiversity Framework. This landmark agreement sets out the actions that all countries now need to take to reverse the loss of biodiversity, and was remarkable not only for its ambition, but also for the level of engagement from businesses—the largest in the Convention’s history.

KPMG

ESG data and ratings

ESG data and ratings provider may face increasing regulation in the near future, with regulatory initiatives proposed in the UK, EU and elsewhere in the world.

KPMG

2023 UK Green Finance Strategy

Under the headline of 'Mobilising Green Investment', the UK Government has published a revised Green Finance Strategy (PDF 26.9 MB), aimed at supporting the delivery of the transition to net zero. The strategy has been developed by HM Treasury (HMT), the new Department for Energy Security and Net Zero and the Department for Environment, Food and Rural Affairs. It refreshes the original (PDF 12.2 MB) strategy, set out in 2019, and moves forward some of the initiatives announced in the 2021 Roadmap to Sustainable Investing (PDF 2.03 MB) (see our article here).

Finance Malta

Going Green: How Malta’s Economy is Embracing Sustainability

In a recent speaking engagement, the Maltese Minister for the Environment, Energy and Enterprise, the Honourable Dr. Miriam Dalli, discussed the crucial role of the financial services sector in Malta’s ongoing transition to a ‘green economy’. Dr. Dalli focused on a staggering EUR 24 billion reportedly laying idle in the form of local bank deposits and stressed that Maltese investors should be encouraged to direct this capital towards sustainable business ventures – such as, for instance, renewable energy projects.  

Shearman & Sterling

UK PROPOSALS FOR DIGITAL ASSET REGULATION

Presently, cryptoassets are treated as an unregulated product class, and a cryptoasset product will only be regulated to the extent it can be characterised as an existing regulated product class (e.g., a share or bond). However, certain regulated firms, when acting in, or from,
the U.K., are prohibited from marketing, selling or distributing to retail clients derivatives and exchange-traded notes referencing certain types of unregulated, transferable cryptoassets. The only targeted regulatory requirement for operators in this sector is a limited purposes AML registration requirement with the Financial Conduct Authority (FCA), similar to the AML registration regimes in place for non-financial firms in some other sectors, such as estate agents and law firms.

Shearman & Sterling

International  Coordination - a Prerequisite for Digital Assets Regulation?

Digitisation is changing the way we own, trade and think about traditional financial assets. Resolving the legal and regulatory concerns that digital assets raise for financial services will open up tremendous commercial and economic opportunities. While international coordination of regulation and supervision might be desirable, this is, at best, likely to be slow and not comprehensive. Fortunately, a single legal and regulatory system, serving as a “home” jurisdiction for core businesses, can provide the solution to most, if not all, of the problems. The U.K. system, which looks to combine proper regulation and supervision in a business sensitive environment, makes an attractive proposition.

Shearman & Sterling

FINTECH CONSOLIDATION IN 2023: 10 THINGS

Consolidation will be an important foundation for the continued digital transformation of the financial services industry. The FinTech sector is maturing in profound ways, and the search for greater scale and diversification will be a critical driver for firms in the near term. In many cases, consolidation will be driven by a “flight to quality,” as potential investors and buyers, and even consumers, place a greater emphasis on FinTechs with strong legal and regulatory compliance records, including with respect to licensing, consumer data and operational resiliency. Consolidation will take various forms, from traditional M&A to strategic partnerships and investments. While transactions will vary in ways that are reflective of the diversity of the FinTech sector itself, here are 10 things that should be considered.

ADGM

Building the UAE’s Sustainable Finance Ecosystem

Sustainable finance has been well and truly gaining momentum in the Middle East and North Africa (MENA) region. Despite the challenging global economic environment, countries in the MENA region are making significant strides in sustainable finance initiatives, such as the growth in green bond issuance in the region surpassing the global trend. So, as the MENA region forges ahead in its green transition, there are clear indications of the increasing dedication of governments, regulators, investors, and businesses in the region to take substantive action to invest in this transition to make net zero a reality. 

Sustainable finance has been well and truly gaining momentum in the Middle East and North Africa (MENA) region. Despite the challenging global economic environment, countries in the MENA region are making significant strides in sustainable finance initiatives, such as the growth in green bond issuance in the region surpassing the global trend. So, as the MENA region forges ahead in its green transition, there are clear indications of the increasing dedication of governments, regulators, investors, and businesses in the region to take substantive action to invest in this transition to make net zero a reality. 

Sustainable finance has been well and truly gaining momentum in the Middle East and North Africa (MENA) region. Despite the challenging global economic environment, countries in the MENA region are making significant strides in sustainable finance initiatives, such as the growth in green bond issuance in the region surpassing the global trend. So, as the MENA region forges ahead in its green transition, there are clear indications of the increasing dedication of governments, regulators, investors, and businesses in the region to take substantive action to invest in this transition to make net zero a reality.