Europe

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    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.

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    Crypto / Digital Assets

    Stablecoin Summer: How Three Months of Policy And Innovation Could Shape the Future of the Ecosystem

    By Ari Redbord | 18/09/2023

    Ari Redbord and Angela Ang discuss recent developments which made the summer of 2023 a hot one for stablecoins.

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    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.

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    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.

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    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.

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    Sanctions

    G7 Plans to Ban Imports of Russian Diamonds – Report

    By Mark Johnston | 17/09/2023

    The move is part of efforts to reduce Russia’s revenues and pressure it to end its war in Ukraine.

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    ESG / Sustainability

    EU SFDR Review Mulls New Categorisation System

    By ESG Investor | 15/09/2023

    The consultation spans issues such as legal certainty, usability, and how SFDR can play its part in tackling greenwashing.

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    Crypto / Digital Assets

    EU Parliament Approves Crypto Tax Reporting Rules

    By Mark Johnston | 14/09/2023

    The rule, known as DAC8, aligns with the OECD’s crypto-asset reporting framework and will take effect on 1 January 2026.

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    Capital / Liquidity

    UK FCA Intensifies Oversight of Bank Risk Assessment

    By Editors | 13/09/2023

    Risks from customers can affect a bank’s ability to have enough liquidity in challenging markets, the FCA’s Simon Walls said in a letter to bank CEOs.

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    Securities / Derivatives

    India to Explore Allowing Domestic Firms to Directly List in London

    By Editors | 13/09/2023

    India’s government will explore the London Stock Exchange as an international destination for the direct listing of Indian companies.

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