Europe

Resolution & Recovery

UBS Completes Merger With Credit Suisse Swiss Unit

By Editors | 02/07/2024

Sabine Keller-Busse, President of UBS Switzerland said the completion of the Swiss entities’ merger marks an important milestone.

PEPs & Sanctions

UniCredit Seeking Clarity on ECB’s Russia Exit Orders

By Editors | 02/07/2024

The ECB ordered UniCredit in May to further speed up its withdrawal from Russia. The bank is seeking legal clarity on its obligations.

Clearing & Post-Trade

ESMA Extends TAIFEX Recognition to Cover TWD NDFs

By Editors | 02/07/2024

ESMA recognised TAIFEX as a TC-CCP in December 2022 initially just for interest rate swaps. TWD non-deliverable forwards are now approved.

Clearing & Post-Trade

Euroclear, Clearstream Enable Omnibus Access to KTB Market

By Editors | 01/07/2024

Euroclear and Clearstream have launched direct links with Korea allowing global investors to trade Korean government bonds using omnibus accounts.

Trading & Investment

Japan: More Investors Sue MUFG Unit Over Credit Suisse AT1 Losses

By Editors | 01/07/2024

The lawsuit brings the number of plaintiffs in similar cases against Mitsubishi UFJ Morgan Stanley Securities to over 100.

PEPs & Sanctions

EU Imposes New Restrictive Measures Against Belarus

By Editors | 01/07/2024

The measures mirror several of the restrictive measures already in place against Russia to address circumvention.

Market Data & Technology

EU Legislators Agree on MiFIR, MiFID II Revisions

By Editors | 30/06/2024

The revisions will establish EU-level ‘consolidated tapes’ for different kinds of assets, and impose a general ban on ‘payment for order flow’.

Anti-Money Laundering

Switzerland, US to Strengthen Information Exchange Under FATCA

By Editors | 28/06/2024

The US will receive tax information from Switzerland automatically, and Switzerland will also be able to receive information from the US.

Anti-Money Laundering

New AMLA to Receive EBA’s AML/CFT Powers by End 2025

By Editors | 27/06/2024

The EBA said it will transfer its AML/CFT powers and mandates to the AMLA by the end of December 2025.