Europe

Fintech / Regtech

S&P-IHS Deal Wins Regulatory Approval in Europe

By Ranamita Chakraborty | 28/10/2021

The European Commission accepted commitments by S&P Global and IHS Markit to divest businesses that raised competition concerns.

Market Infrastructure

EBA Clearing, SWIFT, TCH Collaborate on Cross-Border Payments

By Mark Johnston | 12/10/2021

A POC has been completed that uses existing payment systems in the US and Europe to achieve synchronised settlements in cross-border payments.

AML / KYC

Germany’s BaFin Fines N26 Over Weak AML Controls

By Editors | 07/10/2021

The €4.25mn fine was paid in July but only made public by BaFin on 29 September. N26 says it already addressed the problems.

Market Infrastructure

EDPB Issues Opinion on Adequacy of Korea Data Protection Regime

By Editors | 07/10/2021

The EDPB says Korea’s data protection framework presents “numerous similarities” to Europe’s, but certain aspects may require “a closer look and clarification”.

Market Infrastructure

FCA Consults on Permitted Use of Synthetic LIBOR Rates

By Manesh Samtani | 29/09/2021

The FCA proposes to permit legacy use of synthetic GBP and JPY LIBOR in all contracts except cleared derivatives for the duration of 2022.

Market Infrastructure

China, EU to Publish Common Taxonomy by Year-End

By Sanday Chongo Kabange | 29/09/2021

The China-EU common taxonomy for sustainable finance will make it easier for other countries to recognise China’s green financial assets, PBOC officials say.

Securities / Derivatives

FINMA Grants Approval Allowing SIX to Deal in Digital Securities

By Editors | 16/09/2021

SIX Digital Exchange is approved to act as a CSD and its associated company SDX Trading to act as a stock exchange.

AML / KYC

German Finance, Justice Ministries Raided in Probe of FIU

By Sanday Chongo Kabange | 15/09/2021

The probe was launched following complaints that the FIU had not acted on millions of euros of suspect transactions between 2018 and 2020.

Big Picture

EU Regulators Warn of Cyber Risk, Credit Losses, Market Exuberance

By Sanday Chongo Kabange | 12/09/2021

The EBA, ESMA and EIOPA warn of increasingly sophisticated cyber-attacks, deteriorating credit quality, and possible exuberance in markets.