Europe

Enforcement

ECB Threatens Fines for Banks Lagging on Climate Risk

By Mark Johnston | 23/11/2023

The central bank has given about 20 banks individual deadlines to fix their shortcomings in managing climate and environmental risks.

Market Infrastructure

Asian Firms Must Tackle T+1 Long Before May

By Javier Hernani Burzaco | 19/11/2023

European and APAC firms that act quickly to prepare for T+1 settlement in North America would gain a competitive advantage, writes Javier Hernani Burzaco.

Enforcement

EU Reaches Provisional Agreement on Environmental Crime Directive

By Mark Johnston | 17/11/2023

The revised directive replaces the 2008 version, which was found to have a limited effect with sanction levels that were too low.

ESG / Sustainability

UK FCA Finds Fault with Retail ESG Funds

By ESG Investor | 17/11/2023

The FCA reviewed the fund disclosures and approaches of 12 fund managers which offered active or passive retail funds with ESG or sustainability-related names.

Fintech / Regtech

UBS, SBI, DBS Use Digital Bond in Cross-border Repo Trade

By Manesh Samtani | 15/11/2023

The transaction involved a repo to borrow tokenised JPY against a natively-issued JPY digital bond. The tokenised JPY was used to finance the repurchase of the same bond.

Capital / Liquidity

EBA Issues Third Batch of MiCA-related Consultations

By Editors | 09/11/2023

The consultations cover transaction reporting, recovery planning, own funds, stress testing, and liquidity requirements for stablecoin issuers.

Capital / Liquidity

EU Lawmakers Back Plans to Improve Bank Resolution Framework

By Editors | 09/11/2023

Jonás Fernández said the rule changes will level the playing field among different banking structures in the EU, while ensuring that banks will remain safe.

Sanctions

UK Targets Russian Gold and Oil as EU Preps New Sanctions Package

By Editors | 08/11/2023

UK government announced asset freezes on 29 individuals and entities in Russia’s gold, oil, and strategic sectors.

AML / KYC

UK FCA Urges Firms to Do More to Combat APP Fraud

By Manesh Samtani | 08/11/2023

Firms are not adequately focused on delivering good outcomes to consumers,  supporting victims of fraud, and handling complaints in a timely manner.