Europe

Market Infrastructure

KSD-Euroclear Trading Link to Open in H1 2024

By Editors | 29/08/2023

The link will enable international investors to access Korean government bonds via an omnibus account opened by Euroclear at the KSD.

Enforcement

UK Energy Regulator Fines Morgan Stanley Over WhatsApp Use

By Editors | 24/08/2023

This is the first-ever fine issued in the UK for failures to record and retain electronic communications relating to energy market trades.

Big Picture

ECB Calls on Banks to Simplify and Streamline Internal Models

By Manesh Samtani | 20/08/2023

Banks should consider using less sophisticated approaches for exposure classes that involve small portfolios or portfolios with limited representative data.

AML / KYC

FCA Sets Out Expectations on Crypto Travel Rule Compliance

By Manesh Samtani | 18/08/2023

UK firms that receive a crypto transfer with incomplete information may block the beneficiary from accessing the crypto.

Crypto / Digital Assets

Euronext Amsterdam Lists Europe’s First Spot Bitcoin ETF

By Editors | 16/08/2023

The ETF is managed by Jacobi Asset Management and uses the FT Wilshire Bitcoin Blended Price Index as its reference.

ESG / Sustainability

FCA Issues Timeline for UK’s ISSB-based Disclosures

By ESG Investor | 14/08/2023

The FCA will be consulting in Q1 2024 with a view to finalising its policy position by end 2024 and commencing reporting from 2026.

AML / KYC

US, UK, Canada Sanction Former Governor of Lebanon Central Bank

By Editors | 11/08/2023

The former governor and his close associates were sanctioned for “corrupt acts” that contributed to Lebanon’s economic crisis.

Sanctions

Russia Suspends Tax Agreements with 38 Countries

By Mark Johnston | 11/08/2023

The double-taxation treaties are suspended in view of “unfriendly actions” of certain countries.

Sanctions

US, Canada, New Zealand Target Belarus With New Sanctions

By Editors | 10/08/2023

The coordinated sanctions come on the three-year anniversary of a presidential election which Alexander Lukashenko won by allegedly falsifying votes.