Global Regulators Set Anti-Greenwashing Standards
IOSCO’s board today issued a report targeting asset-management greenwashing. With this in hand, we expect the SEC soon to proceed on the like-kind ESG standards Chairman Gensler has prioritized as an action item (see Client Report INVESTOR19).

Gensler Reiterates Wide-Ranging Agenda, Push-Out Plans
As noted yesterday, the President’s Working Group on Financial Markets (PWG) was joined by the OCC and FDIC yesterday issuing a report calling for prompt Congressional action to regulate stablecoins and, even in its absence, also for fast action by federal regulators and the FSOC.

Senate LIBOR Bill Faces Partisan Dispute
Senate Banking’s hearing today on LIBOR transition led to the first public announcement of a Tester-Tillis bill akin to the Sherman measure (see FSM Report LIBOR6) along with a bipartisan consensus on the need for action, if not also on how to act. Chairman Brown (D-OH) said that he supports the as-yet-unintroduced bill, but that it must prevent what he called the willingness of big banks to use benchmarks to their own advantage.