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The developing regulatory approach to climate change

Online Published Date : 07 April 2021 | Appeared in issue: Vol 33 No 7 - 08 March 2021

“Climate change is the single greatestthreat to a sustainable future,” said former United Nations secretary-generalBan Ki-moon. Banks and the largest insurers have already integratedclimate-related risks into their risk management frameworks; now, the assetmanagement sector must also prepare for enhanced regulatory obligations. Sushil Kuner outlines the key initiatives for financial services firms underway in the UK.

The SMCR, five years on

Online Published Date : 07 April 2021 | Appeared in issue: Vol 33 No 7 - 08 March 2021

Half a decade after its implementation, the type of enforcement case envisaged by those who crafted the current financial services accountability regime has yet to emerge. Though any perception of improved firm cultures is arguable, many senior managers have found their clearer areas of responsibility a sobering incentive to seek to ensure they aren’t on the hook for a regulatory breach. David Rundle appraises the SMCR’s performance.