Europe

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    PEPs & Sanctions

    G7 Says Switzerland Is Not Doing Enough to Combat Sanctions Evasion

    By Editors | 17/04/2023

    Switzerland, though officially neutral, has frozen Russian assets worth about a third of the EUR 21.5 billion frozen across the EU.

    Emerging Prudential Risks

    Fed Approves UBS Acquisition of Credit Suisse US Subsidiaries

    By Editors | 16/04/2023

    UBS needs authorities in 58 countries to approve the merger, which will create a business with more than $5tr in total invested assets.

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    Market Abuse

    SocGen Agrees to $105m Euribor Rigging Settlement

    By Editors | 16/04/2023

    If approved by the court, the settlement would mean investors have won USD 651.5 million in Euribor-rigging settlements with seven banks.

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    Operational Risk

    Former TSB Executive Fined Over 2018 IT Migration Failure

    By Editors | 14/04/2023

    TSB Bank’s chief information officer was fined for his management of a key outsourcing relationship fell below expected standards.

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    Reporting & Disclosures

    EU Financial Regulators Propose SFDR Amendments

    By ESG Investor | 14/04/2023

    The consultation is open to feedback until 4 July. Regulators plan to submit their final report to the European Commission by end October.

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    Cryptocurrency

    LCH to Start Clearing BTC Futures and Options in Q4

    By Editors | 14/04/2023

    LCH will clear Bitcoin index futures and options contracts traded on GFO-X, an FCA-regulated digital asset derivatives trading venue.

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    Structural Regulation

    Almost $3b Locked Up in Hong Kong MPF Accounts

    By Editors | 14/04/2023

    Advocacy group Hong Kong Watch estimates 96,000 people are being prevented from access their MPF funds after they moved to the UK with BNO passports.

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    Structural Regulation

    UK Authorities Issue Statement on Upcoming Cessation of USD LIBOR Panel

    By Mark Johnston | 13/04/2023

    The statement emphasises the importance of active transition and reminds participants that synthetic LIBOR can only be used as a temporary bridging tool.

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    Resolution & Recovery

    UBS-Credit Suisse Merger Continues to See Opposition

    By Editors | 13/04/2023

    Swiss lawmakers symbolically voted against a liquidity package to support the merger, which is expected to formally close within a few months.

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    PEPs & Sanctions

    US, UK Announce Coordinated Sanctions Targeting Russia Facilitators

    By Editors | 13/04/2023

    US sanctions include International Investment Bank, a Russia-controlled financial institution in Hungary, and three of its current and former executives.

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