Europe

Market Risk

SFC Defers Margin Requirements for Non-Centrally Cleared Equity Options

By Sanday Chongo Kabange | 16/01/2024

The SFC is delaying margin requirements for non-centrally cleared equity options to align with the UK and EU’s timelines.

Conduct, Culture & Accountability

Former Wyelands Bank CEO Fined, Banned by UK PRA

By Mark Johnston | 16/01/2024

Former Wyelands Bank CEO faces penalty and prohibition for failing to ensure the lender had adequate systems and controls.

Capital Adequacy

EBA Deems BNP Paribas Capital Instruments Ineligible

By Mark Johnston | 15/01/2024

Perpetual bonds, also known as “discos”, have a complex structure that could hamper the resolution of the bank in a crisis, the EBA said.

PEPs & Sanctions

Biden Administration Supports Confiscation of Russian Assets – Report

By Editors | 12/01/2024

There have been concerns that the seizure of Russian assets could taint the reputation of the US financial system and spark a flight from the dollar.

Operational Risk

ECB to Launch First Cyber Resilience Stress Test for Banks

By Editors | 06/01/2024

The stress tests will assess the ability of 109 banks to respond to and recover from a cyber attack, rather than their ability to prevent it.

PEPs & Sanctions

EU Sanctions World’s Largest Diamond Producer

By Editors | 04/01/2024

The move is in line with the ban on Russian diamonds introduced as part of the EU’s 12th package of sanctions last month.

Anti-Money Laundering

UK Proposes Measures to Improve Transparency of Land Trusts

By Mark Johnston | 28/12/2023

The UK government seeks feedback on options for improving transparency of land ownership involving trusts.

Fraud, Scams & Cybercrime

Wirecard Investors File Lawsuit Against EY in Munich

By Nithya Subramanian | 27/12/2023

The group of investors alleged that EY did not ensure accuracy of accounts and claimed EURO 700 million as damages.

Structural Regulation

UK, Switzerland to Mutual Recognise Financial Services Laws

By Editors | 22/12/2023

For certain sectors, UK financial services firms will be able to serve clients in Switzerland while largely following UK rules, and vice versa.