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Free Digital Toolkit Helps Private Equity Integrate ESG
A free digital tool that helps private equity firms integrate ESG into their investment processes is hoped to boost the sustainability performance of a market to which financial institutions have huge exposure. The Investor ESG Toolkit was created by UK-based sustainability consultancy Sancroft to help PE firms identify how their investment and risk strategies stack…
Derivatives Service Bureau Sets Start Date of UPI Service on 29 January 2024
The Derivatives Service Bureau (DSB) has set a start date for the Unique Product Identifier (UPI) service following publication of a CFTC designation order confirming the UPI will be required in recordkeeping and swap data reporting in the US from 29 January 2024. The DSB initially planned to go live with the UPI service in…
FINOS Promotes Industry Standards with Release of Common Domain Model
The Fintech Open Source Foundation (FINOS) has released a long-awaited Common Domain Model (CDM) designed to drive transparent and inclusive industry standards. The model is a result of cross-industry collaboration between FINOS, the International Swaps and Derivatives Association (ISDA), International Capital Market Association (ICMA), and International Securities Lending Association (ISLA). The CDM is integrated into…
Data Poses Challenges for UK Pension Funds’ Climate Compliance
A year after pension funds in the UK were required to begin compiling sustainability reports on their portfolios, a survey has shown that data challenges are making the task difficult. A shortage of emissions data, inconsistencies in reporting and a reliance on estimates are making it almost impossible for funds that hold about £2.2 trillion…
Sikoia Secures $6 Million Funding to Accelerate Growth of Client Onboarding Platform
Sikoia, provider of a unified data platform for client onboarding and counterparty evaluation, has secured $6 million in seed funding, bringing total capital raised to over $8.3 million. The London-based company will use the funding to accelerate international expansion, extend the platform’s data coverage and workflow automation, and develop unique technology to help its clients…
Market Abuse Regulation and How Not to Fall Foul of the Rules
The messy collapse of once revered construction and professional services multinational Carillion in 2018 not only shook the City of London, but also offered powerful insight into authorities’ determination to stamp out market abuse. While the £845 million hole Carillion reported in its accounts was stunning, the Financial Conduct Authority’s (FCA) response was just as…
UK Firms Behind on their Plans for EMIR Refit, Novatus Survey Finds
UK firms are largely behind in their plans to comply with the EU’s EMIR Refit transaction reporting regulation, which comes into effect April 29, 2024. Moreover, they are finding the increased technological complexities introduced by the update particularly challenging. These are among the main findings of a survey conducted by Novatus Advisory on readiness for…
Mizuho Bolsters ESG Data Capabilities as Japan Toughens Regulations
Japanese financial giant Mizuho Bank has upgraded its ESG data capabilities as the government in Tokyo tightens rules on sustainability reporting and after the bank was implicated in a greenwashing scandal. The financial services major has put in place a disclosures and data verification framework to help it assess the progress and credibility of net-zero…
Delivering on ESG Through the Cloud
By Shaun Hurst, Principal Regulatory Advisor for EMEA, Smarsh. ESG, the acronym that refers to the alignment of environmental, social, and governance performance and objectives with company practices and investor strategies, has evolved from being a ‘nice to have’ for companies and financial institutions to a concrete expectation. But with rising regulation, litigation and growing scrutiny…
Data Challenge Poses ESG Rethink for Private Equity
Uncertainty over how ESG data should be used and reported is placing a strain on private equity investment, one of the fastest growing pools of capital going into sustainable markets. A survey by software-as-a-service data management firm Key ESG found that nine in 10 of the portfolio companies that private funds trust to manage their…