Europe

Sanctions

EU Considers Ways to Use Frozen Russian Assets to Aid Ukraine

By Mark Johnston | 24/05/2023

EU officials are considering sending the interest generated from cash frozen at Euroclear and Clearstream to Ukraine.

Enforcement

Meta Fined Record $1.3b for Violating EU GDPR

By Sanday Chongo Kabange | 24/05/2023

Meta Ireland has been given six months to ensure its data processing operations for European users comply with GDPR.

ESG / Sustainability

ELFA, ICMA Offer Practical Guidance on High Yield SLBs

By Mark Johnston | 24/05/2023

The ELFA and ICMA partnered to create guidance for the high yield bond market in line with ICMA’s Sustainability-Linked Bond Principles.

Market Infrastructure

EU Commission Adopts MoU on UK Regulatory Cooperation

By Mark Johnston | 21/05/2023

The MoU is seen as a positive step, but it does not deal with access of UK and EU firms to each other’s markets or equivalence decisions.

Crypto / Digital Assets

UK Lawmakers Propose to Regulate Crypto as Gambling Products

By Mark Johnston | 19/05/2023

Report says unbacked crypto assets such as Bitcoin and Ether do not have intrinsic value and pose significant risks to consumers.

Enforcement

UK Lawmaker Alleges State Cover-up in LIBOR Rigging Scandal

By Mark Johnston | 19/05/2023

Member of Parliament David Davis calls for investigation into perjury and false convictions in LIBOR rigging case.

Sanctions

Top EU Official Concerned by Russian Oil Flowing into Europe

By Editors | 18/05/2023

India is buying heavily discounted crude oil from Russia and selling full-priced refined products into Europe. Josep Borrell said the EU must act.

Capital / Liquidity

Swiss Parliamentary Commission to Investigate Credit Suisse Deal

By Editors | 18/05/2023

The investigation’s exact mandate and the membership of the commission will be decided in legislative sessions which begin on 30 May.

Capital / Liquidity

CDS Payments Not Triggered by Credit Suisse Bond Wipe-out

By Editors | 18/05/2023

The EMEA Credit Derivatives Determination Committee was asked to rule on whether the Credit Suisse takeover should trigger insurance payouts on bonds.