The organization aiming to set worldwide climate reporting requirements for decades to come is under fire for putting corporate interests ahead of the planet’s. In coming months, the International Sustainability Standards Board will publish rules for companies to disclose the …
One of the top legal firms advising asset managers on ESG says the industry needs to brace for a more rigorous enforcement of regulations, effective immediately. There’s “a reckoning” under way, said Sonali Siriwardena, partner and global head of ESG …
European lawmakers have agreed to force roughly 28,000 foreign subsidiaries to comply with the bloc’s ESG rules, marking a blow to representatives for U.S. corporations who had lobbied for the opposite outcome. In a wide-reaching revamp of the EU’s reporting …
Denmark’s central bank warned rising waters pose a threat to the financial system as property used as collateral against bank loans may be worthless in coming years, amid increasing damage by climate change to the country’s 5,000 mile-long coastline. Flood …
Norway’s biggest bank has been warned that it may be fined 400 million kroner ($45 million) for failing to comply with anti-money laundering rules. The Financial Supervisory Authority in Oslo criticized DNB ASA’s inadequate compliance with the Norwegian Anti-Money Laundering …
Swedbank AB acknowledged it will no longer be able to live up to its goal of paying out one of the highest dividend ratios in the Nordic finance industry. Sweden’s oldest bank, which is dealing with the fallout of a …
Denmark’s financial watchdog is warning that smaller banks need to be on high alert for signs of money laundering as larger lenders tighten their surveillance systems. Jesper Berg, director general of the Financial Supervisory Authority in Copenhagen, said Denmark is …
As one avenue for money launderers is shut, another one may be opening. In Denmark, home to Danske Bank A/S, the authorities are now taking a closer look at companies that provide payment services. The worry is that the chain …
Bill Browder, the investor who’s made a career of chasing money launderers, says the cases he’s brought against banks so far only represent a tiny fraction of the full amount in dirty money trying to get out of Russia and …
Danske Bank A/S says it’s been placed under formal investigation in France over suspected money laundering at its Estonian branch. The Copenhagen-based bank said the investigation covers transactions from 2007 to 2014 amounting to around 21.6 million euros ($24.5 million). …
