Investors for Paris Compliance (I4PC) launched a complaint against the Ontario Securities Commission and the Autorité des marchés financiers of Québec on Tuesday, asserting that Canada’s big five banks’ sustainable investing disclosures are misleading to shareholders. The complaint called out BMO, Scotiabank, CIBC, TD and RBC for providing possibly misleading environmental, social and governance (ESG) [...]
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Explainer: How EU Policy is Adapting to the Era of Supply Chain Due Diligence Regimes
On 23 February 2022, the European Union (EU) Commission adopted a proposal for a Directive on corporate sustainability due diligence (Draft Directive). When the EU Commission opts for a Directive, in effect the EU is setting a goal that all member states must achieve, but how they get there legislatively is up to each state individually. In an [...]
Russia media regulator demands Google restore access to YouTube channels in Ukraine
Russia’s media regulator, the Roskomnadzor, Sunday announced that it has written to the management of Google LLC demanding the removal of all restrictions imposed on Russian media’s YouTube channels in Ukrainian territory. The banned channels RBC, Zvezda and Sputnik have previously been criticised for disseminating false information and Russian propaganda. Google on Saturday cited “extraordinary [...]
IOC postpones Olympics figure skating medal ceremony for 'legal' reasons
The Beijing Olympics figure skating team competition medal ceremony was delayed due to “legal issues,” according to International Olympic Committee (IOC) spokesperson Mark Adams during a press conference Wednesday. The ceremony was planned to take place Tuesday but was postponed with no new date announced. On Thursday, Adams refused to comment on the matter, calling [...]
European Commission fines financial institutions for interest fixing
The European Commission (EC) on Wednesday fined eight international financial institutions €1.7 billion for having engaged in illegal cartels. They were all involved in cartels relating to interest rate derivatives. Some participated in a cartel...
UK legislation approved parliamentary probe into banking industry
British legislators on Thursday approved a parliamentary inquiry into the country's banking industry. The 330 to 226 vote came two days after Prime Minister David Cameron announced that he would initiate the parliamentary...
US regulator sues Canada bank alleging illegal trading scheme
The US Commodity Futures Trading Commission (CFTC) on Monday filed charges in the US District Court for the Southern District of New York against the Royal Bank of Canada (RBC) alleging...
Scotland government unveils draft independence referendum bill
Scottish First Minister Alex Salmond unveiled a proposal Thursday that, if passed, would allow Scottish voters to choose whether to expand the country's autonomy. The draft referendum contains two ballot papers. One...
Swiss decision to extradite ex-nuclear minister to US triggers row with Russia
Russia cautioned Switzerland on Wednesday that the countries' bilateral ties would be harmed by the Swiss decision to extradite former Russian atomic energy minister Yevgeny Adamov to the US. Switzerland's Ministry of Justice [official...