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Europe
Structural Regulation
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.
Cryptocurrency
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.
Market Abuse
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.
PEPs & 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.
Resolution & Recovery
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.
Trading & Investment
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.
Structural Regulation
EU Considers Lowering Wealth Threshold for Professional Investors
By Mark Johnston | 17/05/2023
A draft document reveals a European Commission plan to revise MiFID II rules to lower the criteria for being classified as a professional investor.
Cryptocurrency
EU Council Formally Adopts New Legal Framework for Crypto
By Sanday Chongo Kabange | 17/05/2023
New rules under MiCA cover issuers of utility tokens, asset referenced tokens, stablecoins, service providers such as trading venues, and wallets where crypto-assets are held.
Anti-Money Laundering
EU Enters Trilogue Discussions on Proposed New AML Authority
By Mark Johnston | 17/05/2023
The new Anti-Money Laundering Authority would directly supervise high-risk financial entities and coordinate national authorities and FIUs.
Credit Risk
ECB Fines Goldman Sachs for Miscalculating RWA
By Editors | 17/05/2023
Goldman’s European unit reported lower RWA for credit risk than it should have done for eight consecutive quarters.
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