EUROPE

Enforcement

FINMA Opens Probe Into Credit Suisse Archegos Losses

By Sanday Chongo Kabange | 24/04/2021

The Swiss regulator said it will appoint a third-party agent to investigate “possible shortcomings in risk management” at Credit Suisse.

ESG / Sustainability

European Sustainability Reporting Standards Within 18 Months

By ESG Investor | 23/04/2021

Patrick de Cambourg, Chair of the EFRAG Project Task Force, told ESG Investor that the formation of the EU sustainability reporting standards will be collaborative.

AML / KYC

BaFin Files Criminal Complaint Against Deutsche Bank Exec

By Manesh Samtani | 23/04/2021

Alexander Schütz is suspected of using inside information to trade Wirecard shares. A separate probe into EY’s audits of Wirecard is continuing.

AML / KYC

ABN Amro to Settle Dutch AML Probe for €480m

By Manesh Samtani | 22/04/2021

ABN Amro conducted inadequate client due diligence, assigned risk classifications in an incorrect manner, and fell short in alert processing, among other failures.

Crypto / Digital Assets

HM Treasury, BOE Form CBDC Taskforce to Explore ‘Britcoin’

By Sanday Chongo Kabange | 21/04/2021

The taskforce will coordinate work to explore a potential ‘Britcoin’, though a decision has not been made on whether a CBDC would be introduced.

AML / KYC

European Commission Publishes Strategy to Combat Human Trafficking

By Sanday Chongo Kabange | 20/04/2021

The 5-year strategy includes the use of financial investigations and the development of a framework to identify, seize and confiscate criminal assets.

Market Infrastructure

Industry Bodies Urge EU, UK to Link Emissions Trading Systems

By Sanday Chongo Kabange | 19/04/2021

Linking the systems ahead of COP 26 would reaffirm the UK and EU as climate leaders and demonstrate strong advocacy for international carbon markets.

Big Picture

ECB Calls for Common Standards for DLT Use in Post-Trade

By Sanday Chongo Kabange | 19/04/2021

Common protocols and standards are needed to improve the use of DLT in post-trade processes and avoid market fragmentation.

ESG / Sustainability

‘Brown’ Investments Risk Larger Losses from Transition Shocks

By ESG Investor | 16/04/2021

ESMA has found that green funds are less exposed to systemic network risks, while brown funds are more exposed to transition shocks.