EUROPE

Enforcement

US SEC, BaFin Probe DWS Over ESG Investment – Reports

By Editors | 30/08/2021

The former global head of sustainability at DWS alleges that the firm overstated how many assets had been screened against ESG criteria.

Capital / Liquidity

EU Banks Using Window Dressing to Avoid G-SIB Surcharges

By Manesh Samtani | 13/08/2021

Several EU banks may be purposefully compressing their balance sheets at year-end to lower their G-SIB scores and the associated capital surcharges.

Market Infrastructure

Japan, UK Regulators Exchange Letters on CRA Supervision

By Editors | 11/08/2021

The letters set out a framework for cooperation on regulatory, supervisory and enforcement matters in relation to credit rating agencies.

AML / KYC

EBA Issues Guidance on Role of AML Compliance Officers

By Editors | 03/08/2021

Where a financial services firm is part of a group, the guidelines provide that a group AML/CFT compliance officer be appointed at the parent company level.

Fintech / Regtech

Thailand, Luxembourg Sign MoU on Fintech Innovation

By Editors | 02/08/2021

The MoU provides a framework for cooperation between the SEC and CSSF with respect to promoting innovation in financial services.

AML / KYC

Regulatory Pressure on Binance Builds With Malaysia Ban

By Manesh Samtani | 01/08/2021

Malaysia’s SC has announced enforcement actions. Binance is winding down its derivatives business in Europe. India is probing its involvement in a betting probe.

Market Infrastructure

FMSB Finalises Standard on Use of Term SONIA

By Manesh Samtani | 31/07/2021

Use cases for Term SONIA include trade finance, working capital products, Islamic finance, export finance, and emerging markets lending.

Securities / Derivatives

Independent Report Finds Risk Control Failures at Credit Suisse

By Sanday Chongo Kabange | 30/07/2021

The report indicates that the risks were known, but responsible parties in the first and second lines simply failed to act.

Securities / Derivatives

UK FCA Finalises Rule Changes for SPAC Listings

By Manesh Samtani | 28/07/2021

The FCA will remove the presumption of suspension at the point when an acquisition target is identified, for SPACs that meet certain criteria.