Europe

Capital / Liquidity

Swiss Parliamentary Commission to Investigate Credit Suisse Deal

By Editors | 18/05/2023

The investigation’s exact mandate and the membership of the commission will be decided in legislative sessions which begin on 30 May.

Capital / Liquidity

CDS Payments Not Triggered by Credit Suisse Bond Wipe-out

By Editors | 18/05/2023

The EMEA Credit Derivatives Determination Committee was asked to rule on whether the Credit Suisse takeover should trigger insurance payouts on bonds.

AML / KYC

EU Considers Lowering Wealth Threshold for Professional Investors

By Mark Johnston | 17/05/2023

A draft document reveals a European Commission plan to revise MiFID II rules to lower the criteria for being classified as a professional investor.

AML / KYC

EU Council Formally Adopts New Legal Framework for Crypto

By Sanday Chongo Kabange | 17/05/2023

New rules under MiCA cover issuers of utility tokens, asset referenced tokens, stablecoins, service providers such as trading venues, and wallets where crypto-assets are held.

AML / KYC

EU Enters Trilogue Discussions on Proposed New AML Authority

By Mark Johnston | 17/05/2023

The new Anti-Money Laundering Authority would directly supervise high-risk financial entities and coordinate national authorities and FIUs.

Enforcement

ECB Fines Goldman Sachs for Miscalculating RWA

By Editors | 17/05/2023

Goldman’s European unit reported lower RWA for credit risk than it should have done for eight consecutive quarters.

ESG / Sustainability

Stewardship Dialogue Must be Ongoing – FCA

By ESG Investor | 13/05/2023

UK regulator seeks evidence of barriers to collaborative engagement, expects consultation responses to feed into review of ‘macro’ stewardship.

Fintech / Regtech

Key Committees in EU Parliament Vote to Adopt “AI Act”

By Editors | 13/05/2023

The rules are aimed at supporting AI innovation while also protecting rights, strengthening oversight, and ensuring mature governance and enforcement.

EU Backtracks on Financial Advice Inducement Ban – Report

By Editors | 13/05/2023

The new plan is to limit the proposed ban on inducement payments to “execution-only” sales of investment products where no financial advice is delivered.