EUROPE

Enforcement

BaFin Faces Criminal Probe Over Wirecard Response

By Sanday Chongo Kabange | 14/04/2021

BaFin has been under fire since mid-last year for failing to properly respond to multiple red flags signalling an accounting fraud at Wirecard.

Securities / Derivatives

FCA to Consult on Stronger Protections for SPAC Investors

By Editors | 06/04/2021

The consultation will consider enhanced disclosure requirements, a minimum market cap and a redemption option for investors.

Market Infrastructure

FCA, BOE Urge Switch to SONIA in GBP Non-linear Derivatives

By Editors | 05/04/2021

The FCA and BOE have asked liquidity providers and interdealer brokers to adopt SONIA in quoting conventions for GBP non-linear derivatives from 11 May.

Enforcement

FCA, BOE Set Out Priority Areas for LIBOR Transition

By Manesh Samtani | 30/03/2021

Supervisory tools may be used to address insufficient progress and poor risk management or governance.

Market Infrastructure

FMSB Issues Draft Standard on ‘Appropriate’ Use of Term SONIA

By Manesh Samtani | 28/03/2021

The main use cases where a robust rationale may be identified for using Term SONIA in lending products include trade finance, working capital, and Islamic finance products.

AML / KYC

EU Sanctions Officials from China, Myanmar, Others

By Editors | 22/03/2021

The EU, US, UK and Canada all imposed sanctions against Chinese officials and entities on Monday, citing human rights abuses in Xinjiang.

AML / KYC

FCA Files Criminal Proceedings Against NatWest for AML Failures

By Editors | 19/03/2021

NatWest is facing criminal charges for not adequately monitoring and scrutinising large payments into a corporate client’s accounts.

Securities / Derivatives

ESMA to End 0.1% Threshold for Short Position Reporting

By Editors | 16/03/2021

ESMA says the current financial market environment no longer resembles the emergency situation that required it to tighten short position reporting rules last March.

Securities / Derivatives

Eurex to List KOSPI 200 Futures Product from 22 March

By Editors | 15/03/2021

Eurex already lists KOSPI 200 Options and Mini-KOSPI 200 Futures. The addition of KOSPI 200 Futures will offer trading, hedging and margin efficiencies.