EUROPE

Enforcement

BaFin Efficacy Called into Question for Wirecard Handling

By Manesh Samtani | 22/06/2020

Last February, BaFin responded to whistleblower allegations and critical media reports by banning short-selling in Wirecard and filing criminal charges against journalists.

Market Infrastructure

What CSDR’s Settlement Discipline Regime Means for Asia’s Buy-side

By Matt Johnson | 22/06/2020

CSDR’s Settlement Discipline Regime could expose Asian firms to settlement failure penalties on their trades with EU counterparties, writes DTCC’s Matt Johnson.

Fintech / Regtech

European Fintechs Launch New Industry Association

By Editors | 19/06/2020

The European FinTech Association will seek to remove cross-border barriers in financial services, including to streamline fragmented AML rules and address IBAN discrimination.

AML / KYC

UK FCA Fines Commerzbank $47m for 5 Years of AML Failures

By Editors | 19/06/2020

Commerzbank’s London Branch failed to conduct periodic due diligence on clients, address transaction monitoring weaknesses, and to have adequate CDD policies and procedures in place.

Securities / Derivatives

China Pacific Insurance Lists GDRs in London

By Editors | 17/06/2020

The issuance is the largest capital raising on the LSE in three years, even at a 10% discount to China Pacific Insurance’s corresponding A-shares in Shanghai.

Securities / Derivatives

Shanghai Bourse Lists First ETF Tracking French Stocks

By Editors | 15/06/2020

The listing of the new ETF represents the culmination of the SSE’s capital markets cooperation with Euronext, following an MOU signed in October 2018.

Market Infrastructure

EC Proposes Simplified Approach to Supervising Non-EU CCPs

By Editors | 14/06/2020

Under the new approach, third-country CCPs that are not deemed systemically important will only be subject to basic ESMA supervision, relying on ‘comparable compliance’.

Market Infrastructure

High-Level Forum Charts Course to Achieve EU Capital Markets Union

By Editors | 11/06/2020

In a new report, the EU’s High-Level Forum on capital markets union offers specific recommendations on developing deeper, more dynamic and more harmonised markets across EU member states.

Securities / Derivatives

Thailand SEC Supports LuxSE Listings by Domestic Firms

By Editors | 10/06/2020

Thai bond issuers can list their securities on LuxSE’s BdL or Euro MTF; or alternatively obtain a profile listing on the SOL to gain visibility on the Luxembourg Green Exchange.