Europe

Market Infrastructure

UK Consults on Post-Brexit Regulatory Framework for Financial Services

By Editors | 22/10/2020

The consultation proposes a blueprint for the future regulatory framework that more clearly allocates responsibilities between Parliament, HM Treasury and financial services regulators.

Capital / Liquidity

Capital Buffer Rules May Need to Change, says BOE’s Jon Cunliffe

By Sanday Chongo Kabange | 19/10/2020

Restrictions on dividends and other payouts that can be imposed represent a ‘first-mover disadvantage’ to banks dipping into their capital buffers to support lending.

AML / KYC

Global Tax Evasion Probe Targets Euro Capital Bank, Puerto Rico

By Manesh Samtani | 18/10/2020

Euro Pacific Bank, founded in 2017 by Peter Schiff and Mark Anderson, is said to be used by up to 400 Australian nationals, about 100 of which are considered “high-risk”.

Securities / Derivatives

HKIFA Warns Against Changing UCITS Delegation Model – Report

By Editors | 15/10/2020

HKIFA chief Sally Wong reportedly said a move to restrict the delegation model could prompt capital to flow away from the European fund industry.

Market Infrastructure

SFTR Reporting Regime Goes Live for Buy-Side Firms

By Editors | 14/10/2020

Phase three of the SFTR places reporting obligations on investment funds, insurance companies and pension funds.

Crypto / Digital Assets

UK FCA Bans Retail Sale Of Crypto Asset Derivatives

By Sanday Chongo Kabange | 08/10/2020

The ban covers contracts for difference, options, futures and exchange-traded notes referencing crypto assets, and will come into effect on 6 January 2021.

Securities / Derivatives

China’s DCE, ZCE Assessed as Post-trade Transparency Positive

By Editors | 08/10/2020

The positive assessments relieve EU investment firms from the obligation to make DCE and ZCE transactions post-trade transparent via an APA.

Fintech / Regtech

ECB Starts Preparing for Possible Digital Euro Issuance

By Sanday Chongo Kabange | 06/10/2020

A decision has not been made to introduce a digital euro, but the ECB will commence experimentation to ensure it is prepared if it needs to do so.

Market Infrastructure

EU Antitrust Objections Expected Over LSEG-Refinitiv Deal

By Manesh Samtani | 05/10/2020

EU regulators are said to have antitrust concerns over LSEG’s proposed acquisition of Refivitiv. A Singapore consultation covering similar concerns is closing soon.