Europe

Clearing & Post-Trade

ESMA Proposes 11 October 2027 for Migration to T+1 Settlement

By Manesh Samtani | 19/11/2024

ESMA says 11 October 2027 is the optimal date for the transition, and that it must be coordinated with other jurisdictions in Europe.

Reporting & Disclosures

UK Issues Long-awaited Green Taxonomy Consultation

By ESG Investor | 19/11/2024

Interoperability with other taxonomies, such as the EU, has been identified as a priority in the consultation.

PEPs & Sanctions

EU Parliament Calls for Tougher Sanctions on Russian ‘Ghost Fleet’

By Editors | 18/11/2024

The sanctions will target “all individual vessels as well as their owners, operators, managers, accounts, banks and insurance companies”.

Supervision & Enforcement

FCA to Reshape ‘Name and Shame’ Policy After Backlash

By Nithya Subramanian | 17/11/2024

Revised proposals will include a more stringent public interest test and a longer notice period for firms.

Clearing & Post-Trade

LME Clear Announces Reforms Tripling Member Capital Requirements

By Editors | 15/11/2024

LME Clear said the proposal would better align member capital requirements with those of peer CCPs and reassure market stakeholders of its markets resilience.

Sustainable Finance

EU-China CGT Expanded to Include Singapore-Asia Taxonomy

By Nithya Subramanian | 15/11/2024

The Multi-Jurisdiction Common Ground Taxonomy establishes a comparative framework of the sustainable finance taxonomies of China, the EU and Singapore.

AI Risk & Governance

EU Commission Seeks Input on AI Systems That Should be Banned

By Mark Johnston | 15/11/2024

The EU Commission’s AI Office is consulting on the AI system definition and the specific use cases that should be banned due to potential harm.

Conduct, Culture & Accountability

NatWest Blocks Messaging Apps on UK Work Devices

By Nithya Subramanian | 14/11/2024

NatWest Group has restricted access to ensure staff only use “approved channels” for business communications.

Anti-Money Laundering

UK FCA Fines Metro Bank for Transaction Monitoring Failures

By Nithya Subramanian | 14/11/2024

A data-feeding error meant 60 million transactions were not monitored by Metro Bank over a four-year period.