Europe

Structural Regulation

FCA to Consult on Stronger Protections for SPAC Investors

By Editors | 06/04/2021

The consultation will consider enhanced disclosure requirements, a minimum market cap and a redemption option for investors.

Trading & Investment

FCA, BOE Urge Switch to SONIA in GBP Non-linear Derivatives

By Editors | 05/04/2021

The FCA and BOE have asked liquidity providers and interdealer brokers to adopt SONIA in quoting conventions for GBP non-linear derivatives from 11 May.

Operational Risk

FCA, BOE Set Out Priority Areas for LIBOR Transition

By Manesh Samtani | 30/03/2021

Supervisory tools may be used to address insufficient progress and poor risk management or governance.

Structural Regulation

FMSB Issues Draft Standard on ‘Appropriate’ Use of Term SONIA

By Manesh Samtani | 28/03/2021

The main use cases where a robust rationale may be identified for using Term SONIA in lending products include trade finance, working capital, and Islamic finance products.

PEPs & Sanctions

EU Sanctions Officials from China, Myanmar, Others

By Editors | 22/03/2021

The EU, US, UK and Canada all imposed sanctions against Chinese officials and entities on Monday, citing human rights abuses in Xinjiang.

Anti-Money Laundering

FCA Files Criminal Proceedings Against NatWest for AML Failures

By Editors | 19/03/2021

NatWest is facing criminal charges for not adequately monitoring and scrutinising large payments into a corporate client’s accounts.

Trading & Investment

ESMA to End 0.1% Threshold for Short Position Reporting

By Editors | 16/03/2021

ESMA says the current financial market environment no longer resembles the emergency situation that required it to tighten short position reporting rules last March.

Trading & Investment

Eurex to List KOSPI 200 Futures Product from 22 March

By Editors | 15/03/2021

Eurex already lists KOSPI 200 Options and Mini-KOSPI 200 Futures. The addition of KOSPI 200 Futures will offer trading, hedging and margin efficiencies.

Cybersecurity

EBA on Heightened Security Alert Following Cyber Attack

By Editors | 09/03/2021

Tens of thousands of organisations in Asia, Europe and the US were targeted in a campaign that exploited vulnerabilities in different versions of Microsoft’s mail server software.