Europe

Sanctions

Biden Administration Supports Confiscation of Russian Assets – Report

By Editors | 12/01/2024

There have been concerns that the seizure of Russian assets could taint the reputation of the US financial system and spark a flight from the dollar.

Market Infrastructure

ECB to Launch First Cyber Resilience Stress Test for Banks

By Editors | 06/01/2024

The stress tests will assess the ability of 109 banks to respond to and recover from a cyber attack, rather than their ability to prevent it.

Sanctions

EU Sanctions World’s Largest Diamond Producer

By Editors | 04/01/2024

The move is in line with the ban on Russian diamonds introduced as part of the EU’s 12th package of sanctions last month.

AML / KYC

UK Proposes Measures to Improve Transparency of Land Trusts

By Mark Johnston | 28/12/2023

The UK government seeks feedback on options for improving transparency of land ownership involving trusts.

AML / KYC

Wirecard Investors File Lawsuit Against EY in Munich

By Nithya Subramanian | 27/12/2023

The group of investors alleged that EY did not ensure accuracy of accounts and claimed EURO 700 million as damages.

Market Infrastructure

UK, Switzerland to Mutual Recognise Financial Services Laws

By Editors | 22/12/2023

For certain sectors, UK financial services firms will be able to serve clients in Switzerland while largely following UK rules, and vice versa.

Market Infrastructure

UK FCA Issues Listing Reform Proposals for Consultation

By Manesh Samtani | 22/12/2023

The FCA is also consulting on rules for a bond market consolidated tape and proposals to increase the availability of bond and derivatives information.

Crypto / Digital Assets

UK to Launch Digital Securities Sandbox on 8 Jan 2024

By Editors | 20/12/2023

The sandbox will allow FMIs to test the use of new technology including DLT to operate trading venues and perform CSD activities.

ESG / Sustainability

ESMA Consults on Sustainability Reporting Draft Guidelines

By ESG Investor | 19/12/2023

The guidelines seek to establish consistency in and robust approaches to the supervision of listed companies’ sustainability and financial information.