Europe

The proportion of stock trading app users with at-risk gambling behaviours was more prevalent for apps with certain game-like elements.

Switzerland’s Federated Council has opted to adopt an ordinance on mandatory climate disclosures for large Swiss companies.

The amendments simplify the cash penalties process by putting CSDs in charge of collection and distribution, including for CCP-cleared transactions.

The FCA proposes that the 1-, 3- and 6-month USD LIBOR settings will be published under a synthetic methodology until end September 2024.

The UK FCA  has announced the formation of a group to develop a new code of conduct for ESG data and ratings providers.

A fund with ESG-related terms in its name will have to use at least 80% of its investments to meet environmental or social characteristics or sustainable investment objectives.

The report says "failure to prevent fraud" should be introduced as a new corporate criminal offence, along with significant financial penalties.

The EU, UK, US and Canada imposed sanctions over the use of use of force against peaceful protestors and the sale of drones to Russia.

Following MEP backing for CSRD, disclosure requirements for the largest companies will go live from 2024.

The feedback may lead to further supervisory or enforceable action to reduce greenwashing risks; ESAs also call for an extension to the PAI review.