Europe

AML / KYC

Indonesia to Sue UK for Share of 2020 Airbus Bribery Settlement

By Editors | 27/09/2023

Indonesia plans to sue the UK to annul a billion-dollar settlement Airbus agreed with France, the UK and the US.

ESG / Sustainability

SFDR Overhaul Signals More Uncertainty for Managers

By ESG Investor | 27/09/2023

Review could permit greater interoperability with fund-labelling, disclosure regimes in other jurisdictions.

Market Infrastructure

China, EU Agree Measures to Ease Trade Tensions

By Editors | 27/09/2023

The two sides agreed to establish an export controls dialogue mechanism and to set up a new working group on financial regulation, among other measures.

Capital / Liquidity

UK to Defer Basel III Implementation to July 2025

By Manesh Samtani | 26/09/2023

The BOE had planned to implement Basel III in January 2025 to align with the EU. It is now planning for implementation in July 2025, to align with the US.

Crypto / Digital Assets

UK FCA Addresses Debanking Concerns in New Report

By Mark Johnston | 20/09/2023

The FCA said no credit institution or payment company it reviewed closed an account between July 2022 and June 2023 primarily because of a customer’s political views.

Four Jurisdictions “Slow” on Approvals for UBS-Credit Suisse Merger

By Editors | 20/09/2023

Internal UBS document says uncooperative regulators could jeopardise the timeline of the merger as well as other related transactions.

AML / KYC

EBA CLEARING Issues Specifications for New Anti-Fraud Functionality

By Editors | 18/09/2023

Nine banks are engaged in the data model training for the new fraud-fighting functionality in STEP2 and RT1.

Sanctions

US and Allies Impose New Wave of Sanctions Against Iran

By Editors | 18/09/2023

The sanctions by the US, UK, Canada and Australia come one year after the death of Mahsa Amini while in the custody of Iran’s Morality Police.

Capital / Liquidity

BIS Paper Suggests Redesign of AT1 Instruments May Be Warranted

By Editors | 17/09/2023

The paper says some market participants “may not fully appreciate” that writedown conditions  may differ across AT1 instruments.