Mazars’ regulatory radar – Q1 2021

Covid-19 resilience and recovery remained key issues, with regulators continuing to assess the risks and vulnerabilities of the global banking system. Large credit losses due to non-performing loans are expected, with regulators in the UK and EU preparing for the deterioration of asset quality and intending to engage closely with firms in 2021 to monitor the risks.

Bank operational readiness also occupied the regulatory agenda this quarter, with the UK regulators publishing their final rules.

On sustainability, regulatory policy on the disclosure of ESG risks is evolving quickly with a number of standards on various aspects including Pillar 3 disclosures of ESG risks and disclosures on financial products in environmentally sustainable activities.

Please download the report below for more on these topics, alongside other significant developments in the areas of conduct, financial security and innovation.