Europe

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.

Enforcement

Global Regulators Heighten Scrutiny Over ESG Mislabelling – Reports

By Sanday Chongo Kabange | 09/09/2021

Increased scrutiny from US, EU and UK regulators have forced asset managers to review current practices for classifying funds as ESG-focused.

Enforcement

BaFin Joins US SEC, DOJ in Probing Collapsed Allianz Funds

By Ranamita Chakraborty | 07/09/2021

Allianz is facing probes from BaFin, SEC and DOJ, as well as 25 investor lawsuits, over last year’s collapse of its Structured Alpha Funds.

ESG / Sustainability

EU Banks Urged to Accelerate Adoption of ESG Risk Strategies

By ESG Investor | 02/09/2021

European Commission report finds most European banks are failing to highlight, measure and report on their ESG risks.

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.