Europe

Capital / Liquidity

Credit Suisse Bankers Sue FINMA Over Lost Bonuses

By Editors | 04/06/2023

Some Credit Suisse bankers had their bonus awards based on AT1 bonds, which were wiped out in the government-orchestrated rescue in March.

Market Infrastructure

Regulators Urge Firms to Complete LIBOR Transition Efforts

By Manesh Samtani | 04/06/2023

At least $700bn worth of junk rated US corporate loans are still priced using USD LIBOR, according to estimates.

AML / KYC

EU Officials Formally Sign MiCA Into Law

By Sanday Chongo Kabange | 02/06/2023

The MiCA legislation was signed into law on Wednesday by European Parliament president Roberta Metsola and Swedish minister Peter Kullgren.

Fintech / Regtech

EU, US Jointly Developing Voluntary Code of Conduct for AI

By Sanday Chongo Kabange | 02/06/2023

The first-of-its-kind voluntary code of conduct for AI could be drawn up within weeks, said EU official Margrethe Vestager.

Crypto / Digital Assets

EU Proposes Lower Risk Weights for Stablecoins, Tokenised Assets

By Mark Johnston | 02/06/2023

Stablecoins backed by non-fiat assets such as gold would have a 250% risk weight. Those backed by fiat currency would be treated the same as the underlying.

Crypto / Digital Assets

Eurex Receives Approval to Offer Bitcoin Futures to US Investors

By Ranamita Chakraborty | 02/06/2023

US investors can now benefit from access to a wider range of participants and liquidity pools during Asian, European and US hours, Eurex says.

Market Infrastructure

LME Consults on Reforms to Boost Confidence in Metals Market

By Editors | 31/05/2023

The proposed reforms include expanded reporting on stored metal, permanent measures to address low stock levels, and revised closing price methodologies.

Capital / Liquidity

EU Commission Grants Antitrust Approval for UBS-Credit Suisse Merger

By Editors | 29/05/2023

The UBS acquisition of Credit Suisse has been approved in the EU, but is being complicated in China by regulatory requirements.

ESG / Sustainability

Indonesia, Malaysia to Object to EU Deforestation Law

By Ranamita Chakraborty | 26/05/2023

Indonesia and Malaysia are alleging the EU’s new deforestation law will harm their palm oil industries.