Europe

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    Capital / Liquidity

    FINMA Directs UBS to Make Adjustments to Recovery Plans

    By Nithya Subramanian | 18/10/2024

    FINMA said UBS’s resolution planning must be further developed to increase the options for action available if there is a risk of insolvency.

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    Sanctions

    UK OFSI Fines Concierge Services Firm for Sanctions Breaches

    By Editors | 30/09/2024

    The firm was fined GBP 15,000 for providing property management services to a designated person subject to an asset freeze between 2022 and 2023.

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    Sanctions

    UK Sanctions Entities, Vessels Involved in Russian LNG Sector

    By Editors | 29/09/2024

    The sanctions target five vessels and two ship management companies, including one based in India called Ocean Speedstar Solutions.

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    Market Infrastructure

    Switzerland to Amend Law to Improve International Cooperation

    By Nithya Subramanian | 27/09/2024

    FINMA would be able to request audits of foreign companies. Overseas regulators would be able to conduct audits within Switzerland.

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    AML / KYC

    Telegram Will Share User Data with Law Enforcement Authorities

    By Nithya Subramanian | 26/09/2024

    Telegram has changed its terms of service to deter criminal abuse, nearly a month after CEO Pavel Durov was arrested in France.

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    Enforcement

    FCA Chair Cleared of Wrongdoing in Whistleblower Case

    By Nithya Subramanian | 26/09/2024

    An internal review found that Ashley Alder’s actions were reasonable and not intended to harm the complainants.

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    Enforcement

    ECB Start Penalising Banks for Slow Progress on Climate Risk

    By Mark Johnston | 26/09/2024

    The ECB has begun issuing fines to banks that fail to meet its expectations on climate risk management.

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    Enforcement

    Deutsche Börse, Nasdaq Under Scrutiny in EU Antitrust Probe

    By Editors | 25/09/2024

    Deutsche Börse and Nasdaq said they were raided and searched by EU antitrust watchdogs who suspect antitrust rule violations.

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    Sanctions

    EU Plans €35b Loan for Ukraine, Backed by Russian Assets

    By Editors | 23/09/2024

    The EU was initially planning to contribute about €18bn out of the total €45bn the G7 was planning to raise for Ukraine.

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    Enforcement

    Danske Bank Settles French Money Laundering Probe

    By Mark Johnston | 23/09/2024

    Danske Bank will pay €6.33mn to settle a probe by French authorities into the bank’s now-shuttered Estonian operations.

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