Europe

Trading & Investment

BIS Survey Reveals Rising Significance of Asian FX Hubs

By Manesh Samtani | 18/09/2019

Sales desks in China, Hong Kong and Singapore all recorded rises in FX trading activity compared to three years earlier. The UK increased its dominance despite Brexit fears.

Structural Regulation

HKEX Merger a ‘Significant Backward Step’, Says LSEG

By Manesh Samtani | 14/09/2019

The London Stock Exchange Group sees no merit in further engagement because of fundamental flaws in HKEX’s offer.

Structural Regulation

HKEX Seeks ‘Unprecedented’ Market Connectivity Via LSEG Merger

By Manesh Samtani | 11/09/2019

HKEX chief Charles Li says the merger would create the most important investment platform and risk management infrastructure for the free flow of global capital between the East and West.

Clearing & Post-Trade

WFE Warns EMIR 2.2 Could Unduly Fragment Global Markets

By Editors | 29/08/2019

The WFE has issued a letter to the European Commission and ESMA outlining principles it says would support the objectives of EMIR 2.2 while limiting its negative consequences.

Structural Regulation

EU Shareholder Rights Directive – It’s Time for APAC Firms to Act

By Demi Derem | 26/08/2019

Though a European regulation, SRD II will directly impact Asian intermediaries and hundreds of billions of euros in assets held by APAC investors, says Demi Derem at Broadridge.

Market Abuse

Five Major Banks Face UK Class Action in FX Rigging Case

By Editors | 31/07/2019

The class action, estimated to be worth more than $1.2bn for trades executed in the UK, follows a similar-size fine levied against the banks by the European Commission in May.

Structural Regulation

Singapore, Australia Benchmarks Gain EU Equivalence

By Editors | 30/07/2019

The European Commission has adopted equivalence decisions for Australian and Singapore financial benchmarks, but repealed existing equivalence for credit rating agencies.

Structural Regulation

No Time for Complacency Despite Two-Year BMR Reprieve

By Gregory Campbell | 21/07/2019

Third country benchmark administrators will need every bit of the additional time granted for BMR compliance to ensure their benchmarks get approved, say PwC’s Gregory Campbell and Daniela Bunea.

KYC & CDD

The Rise of Digital Banks in Asia Raises Compliance Questions

By Claus Christensen | 16/07/2019

The entrance of FinTech and BigTech firms into banking is forcing incumbents to adapt, but it should not come at a cost to compliance obligations, writes Claus Christensen at Know Your Customer Ltd.