Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 249

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 249
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 of the Group and its individual operating entities that may have different effects in different countries; – the financial effects of climate risk and other ESG-related changes being incorporated within the global prudential framework, including physical risks from climate change and the transition risks resulting from a shift to a low carbon economy; – reviews of regulatory frameworks applicable to the wholesale financial markets, in particular the reforms and other changes to the securitisation requirements. Non-prudential and related issues – the ongoing focus by regulators, international bodies and other policy makers, on how we conduct business, particularly around the delivery of fair outcomes for customers (for example, the embedding of the requirements of the UK Consumer Duty and regulatory expectations on access to bank accounts for those in vulnerable circumstances), promoting effective competition and ensuring the orderly and transparent operation of global financial markets; – the implementation of conduct and other measures as a result of regulators’ focus on organisational culture, employee behaviour, whistleblowing and inclusion; – the supervisory and regulatory change focus globally on technology adoption and digital delivery, underpinned by customer protection, including the use of digital assets and currencies and wider financial technology risks, for example, the EU‘s Markets in Crypto-Assets Regulation, which introduces a framework for regulating crypto-assets, and Hong Kong, Singapore, and the UK are each introducing new regulations aimed at cryptocurrency related activities; – increasing regulatory expectations and requirements around the use of AI for example, the EU’s AI Act; – continuing supervisory and regulatory change focus globally on payment services and related infrastructure; – ongoing expectations with respect to managing emerging financial crime risks and its impact on customers, and managing conflicting laws and approaches to legal and regulatory regimes and implementing increasingly complex and less predictable sanctions and trade restrictions; – the continued evolution of the UK’s regulatory framework following the UK‘s withdrawal from the EU; – the EU’s CRDVI Article 21c amendment requiring non-EU entities to provide core banking services to EU clients through an EU branch or subsidiary; – requirements regarding remuneration arrangements and senior management accountability more generally within the Group (for example, the requirements of the Senior Managers and Certification Regime in the UK and similar regimes in Hong Kong, Singapore, Australia, Ireland, and elsewhere that are either in effect or under consideration/implementation); – changes in national or supra-national requirements regarding the management of third-party risk; – increasing regulatory expectations of firms in relation to ESG- related governance, risk management and disclosure frameworks (for example the UK Sustainability Disclosure Requirements and the EU Corporate Sustainability Reporting Directive), particularly