Europe

Custody & Infrastructure

FIX Protocol Adopts Digital Token Identifier ISO Standard

By Editors | 24/04/2023

Adding the DTI to FIX will allow the industry to incorporate the trading and settlement of digital assets into their current trading and settlement operations.

Credit Risk

ING Files Suit Against ICBC Over Losses on Copper Deals

By Editors | 24/04/2023

ICBC allegedly released export documents for copper deals without collecting payment, resulting in $170m in losses to ING, which was financing those deals.

Reporting & Disclosures

Asian Asset Managers Lag Europe on ESG, says WWF-Singapore

By Mark Johnston | 23/04/2023

Only 38 percent of Asian asset managers reporting on responsible investing actions, compared with 100 percent of European asset managers.

Resolution & Recovery

Credit Suisse AT1 Bondholders File Suit Against FINMA

By Editors | 22/04/2023

Investors representing over $5bn of Credit Suisse AT1 bonds are seeking redress for the losses they suffered during the takeover by UBS.

PEPs & Sanctions

UK Sanctions Russians Over ‘Politically-motivated Conviction’

By Editors | 21/04/2023

The sanctions target two FSB agents who were allegedly involved in poisoning political activist Vladimir Kara-Murza, as well as a judge and two investigators.

Resolution & Recovery

ECB Calling on US Banks to Relocate More Assets to EU

By Mark Johnston | 21/04/2023

The ECB has urged US banks to move more assets and risk to the euro area after a “desk mapping” review that took place last year.

Stablecoins

Societe Generale Launches EUR Stablecoin on Public Blockchain

By Editors | 21/04/2023

The stablecoin’s legal structure guarantees complete segregation of the collateral assets held to back its value.

Resolution & Recovery

Singapore Investors Prepare to Sue Over Credit Suisse AT1 Bond Losses

By Editors | 21/04/2023

Lawyers for Singapore investors are preparing to argue that the Swiss government’s decision to write off Credit Suisse AT1 bonds violated a free trade agreement.

Cryptocurrency

European Parliament Gives Final Approval on MiCA Law

By Manesh Samtani | 21/04/2023

MiCA is expected to come into force around July; provisions relating to stablecoins from July 2024; and provisions relating to CASPs and the travel rule from January 2025.