Europe

Securities / Derivatives

EU Commission Unveils Measures to “Empower” Retail Investors

By Mark Johnston | 25/05/2023

The measures include better disclosures about investment products and services and a ban on inducements for “execution-only” sales.

Crypto / Digital Assets

TP ICAP Launches New Digital Assets Trading Platform

By Mark Johnston | 25/05/2023

The platform can be used for order matching and trade execution, with segregated custody and settlement done separately.

Enforcement

Global Banks Under Probe for Breaking UK Competition Law

By Editors | 25/05/2023

The CMA “provisionally” found that five global banks broke competition law in the aftermath of the global financial crisis.

Sanctions

EU Considers Ways to Use Frozen Russian Assets to Aid Ukraine

By Mark Johnston | 24/05/2023

EU officials are considering sending the interest generated from cash frozen at Euroclear and Clearstream to Ukraine.

Enforcement

Meta Fined Record $1.3b for Violating EU GDPR

By Sanday Chongo Kabange | 24/05/2023

Meta Ireland has been given six months to ensure its data processing operations for European users comply with GDPR.

ESG / Sustainability

ELFA, ICMA Offer Practical Guidance on High Yield SLBs

By Mark Johnston | 24/05/2023

The ELFA and ICMA partnered to create guidance for the high yield bond market in line with ICMA’s Sustainability-Linked Bond Principles.

Market Infrastructure

EU Commission Adopts MoU on UK Regulatory Cooperation

By Mark Johnston | 21/05/2023

The MoU is seen as a positive step, but it does not deal with access of UK and EU firms to each other’s markets or equivalence decisions.

Crypto / Digital Assets

UK Lawmakers Propose to Regulate Crypto as Gambling Products

By Mark Johnston | 19/05/2023

Report says unbacked crypto assets such as Bitcoin and Ether do not have intrinsic value and pose significant risks to consumers.

Enforcement

UK Lawmaker Alleges State Cover-up in LIBOR Rigging Scandal

By Mark Johnston | 19/05/2023

Member of Parliament David Davis calls for investigation into perjury and false convictions in LIBOR rigging case.