The Financial Stability Board (FSB) welcomed the publication of a report by the industry-led Task Force on Climate-related Financial Disclosures (TCFD). The Status Report provides an overview of the extent to which companies in their 2017 reports included information aligned with the core TCFD recommendations published in June 2017. The report also provides information to support preparers of disclosures in implementing the TCFD recommendations.
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Citizens Advice submitted a super-complaint to the Competition and Markets Authority (CMA) calling on it to identify remedies and recommendations to put an end to the penalty paid by loyal and disengaged consumers. The super-complaint covers several markets, including insurance, cash savings and mortgages.
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The Financial Stability Board (FSB) welcomed the publication of a report by the industry-led Task Force on Climate-related Financial Disclosures (TCFD). The Status Report provides an overview of the extent to which companies in their 2017 reports included information aligned with the core TCFD recommendations published in June 2017. The report also provides information to support preparers of disclosures in implementing the TCFD recommendations.
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On September 20th, a collaboration was signed in Paris between the Institute of Risk & Compliance and Risk & Compliance Platform Europe. The two parties will continue to live completely independently of each other, but they will rely on good cooperation on the expertise and know-how of each in the appropriate areas. The Institute of Risk & Compliance is a foundation created in autumn 2017. Its president is Michaël Amado. The signing took place at The Westin Hotel, Paris Vendome, after the morning session on Compliance Management. The beautiful hotel is the permanent place of the Institute’s conferences.
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European Union (EU) securities markets, infrastructures and investors face new risks in the form of high volatility, the European Securities and Markets Authority (ESMA) said in its latest Trends, Risks, and Vulnerabilities (TRV) Report (No 2, 2018). ESMA also re-iterated its concerns about cyber risk and Brexit risks for business operations. The TRV, which covers the first half of 2018, finds that overall risk levels for the EU’s securities markets remained stable but at high levels for most risk categories. Equity and bond volatility spikes in February and May reflected the growing sensitivities. ESMA also sees a deterioration in outstanding corporate debt ratings, and in corporate and sovereign bond liquidity.
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In February 2008 Ms Ilyés and Mr Kiss concluded with a Hungarian bank a credit contract for the provision of a loan denominated in Swiss francs (CHF). According to the contract, although the monthly repayment instalments were to be paid in Hungarian forints (HUF), the amount of those instalments was to be calculated on the basis of the current exchange rate between the HUF and the CHF. In addition, the contract refers to the foreign exchange risk in the event of possible fluctuations in the exchange rate between these two currencies.
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