Europe

Securities / Derivatives

CSRC Halts New Chinese Listings on SIX Swiss Exchange

By Editors | 21/03/2023

Chinese regulators are concerned that a substantial portion of GDRs are bought by domestic investors, who later exploit home market price differences.

AML / KYC

UK OFSI Issues Guidance on Assessing Ownership and Control

By Editors | 20/03/2023

Updated guidance sets out expectations around the due diligence that should be performed to assess whether entities are owned or controlled by designated persons.

Capital / Liquidity

Central Banks Coordinate Action to Ensure Global USD Liquidity

By Editors | 20/03/2023

From Monday until at least the end of April, the Fed and other central banks will make US dollars available on a daily basis, rather than weekly.

Capital / Liquidity

Swiss Regulators Orchestrate UBS Takeover of Credit Suisse

By Manesh Samtani | 20/03/2023

The deal gives Credit Suisse shareholders shares in UBS worth just 40 percent of what their CS shares were worth on Friday.

Securities / Derivatives

LME Discovers Nickel Bags Containing Stones at Warehouse

By Editors | 19/03/2023

The already embattled LME is postponing the reopening of Asian trading to allow its warehouse operators to recheck warranted nickel.

Sanctions

Raiffeisen Mulls Sberbank Cash Swap to Reduce Russia Exposure

By Editors | 19/03/2023

The deal involves Sberbank receiving roubles in Moscow from Raiffeisen’s Russian subsidiary, and Raiffeisen receiving euros in Vienna from Sberbank’s former European arm.

ESG / Sustainability

Bangladesh, UK Signs Pact to Tackle Climate Change

By Sanday Chongo Kabange | 18/03/2023

Bangladesh and the UK stressed the need to work to increase access to climate finance by climatically vulnerable countries and secure greater funding for adaptation.

Capital / Liquidity

Credit Suisse to Borrow Over $50b from Central Bank Facilities

By Editors | 17/03/2023

The bank will also repurchase some of its senior debt securities as part of efforts to manage its liability composition and optimise interest expense.

Enforcement

Swedbank Fined for IT Incident Which Impacted 1m Customers

By Editors | 16/03/2023

Swedbank made a change to a business-critical IT system without following its internal procedures and processes.