Europe

Clearing & Post-Trade

ESMA Follows Through with De-recognition of Indian CCPs

By Manesh Samtani | 03/05/2023

So far Indian markets have not faced disruptions. This is attributed to the concessions provided by French and German regulators.

Market Risk

ECB Scrutinising Bond Losses at European Banks

By Editors | 30/04/2023

The ECB is asking banks about their practices for hedging interest rate risk, including to assess whether risks have been shifted to nonbanks.

Anti-Money Laundering

UK Convicts Cash Couriers for Laundering Over $130m

By Editors | 27/04/2023

The couriers smuggled money from the UK to Dubai using vacuum-packed suitcases sprayed with coffee or air fresheners to evade detection.

Liquidity Risk

Credit Suisse Reveals Scale of Outflows Pre-UBS Deal

By Manesh Samtani | 27/04/2023

UBS is expected to record up to $57bn in profits in Q2 as a result of the deal, the largest ever banking profit recorded.

Anti-Money Laundering

Swiss Prosecutors Indict Ex-PetroSaudi Executives in 1MDB Case

By Editors | 26/04/2023

The two former executives were paid by Jho Low to set up a joint venture that was used to embezzle $1.8bn from 1MDB.

Cryptocurrency

UK FCA to Develop New Financial Promotions for Crypto Industry

By Mark Johnston | 26/04/2023

FCA executive director Sarah Pritchard said the new regime will apply to all firms marketing cryptoassets to UK consumers, regardless of where they are based.

Trading & Investment

Macau Exchange Signs Cooperative Agreement with LuxSE

By Editors | 25/04/2023

Under the agreement, MOX-listed securities can be admitted for listing and trading on LuxSE’s exchange-regulated market, the Euro MTF.

PEPs & Sanctions

US Official Details Sanctions Evasion Red Flags During European Visit

By Editors | 25/04/2023

Treasury official Brian Nelson met with European officials and FIs last week and shared details about emerging sanctions evasion typologies.

Reporting & Disclosures

ECB Urges Banks to Improve Climate Risk Disclosures

By Sanday Chongo Kabange | 25/04/2023

The ECB is concerned that banks are not prepared for new climate and environmental risk disclosure standards that take effect mid-year.