Crystal Concise: October 2022

Our regular snapshot from the Crystal team of some of the highlights and points of note for finance and corporate comms pros from around the jurisdictions this past month...

• Channel Islands: The JEP and Bailiwick Express completed their merger, heralding a new era for the media landscape in the islands, whilst also announcing a new Board and declaring the two brands would retain 'editorial independence'

• Cayman: There were significant political manoeuvrings in the Cayman Islands, as McKeeva Bush resigned as Speaker of the House in the islands. The resignation came after some long running media commentary following allegations on assault relating to an incident in 2020

• Luxembourg: The Luxembourg government announced its draft budget to deal with spiralling inflation. It includes running up a EUR2.8bn deficit next year

• Switzerland: Switzerland announced plans to establish a new centralised registry of beneficial ownership, with June 2023 set as the deadline for representing a draft bill.

• Tech: In a move that is expected to have particular implications for Apple, the EU introduced a new obligation for standardised charging for mobile devices. The new rule means that all devices, including phones, tablets and cameras, will need to use USB-C chargers from 2024

• Crypto: The OECD announced new proposals to strengthen transparency in the digital assets space through a new information exchange framework

• ESG and Greenwashing: The UK Financial Conduct Authority (FCA) announced a package of measures designed to clamp down on greenwashing. The new measures, intended to build trust and integrity in ESG-labelled products, include investment product sustainability labels and restrictions on how terms like 'ESG', 'green' or 'sustainable' can be used. They will have implications for marketing and comms teams managing ESG and sustainable finance issues, service and products.