Europe

Fintech / Regtech

UK Regulators Announce Next Steps for Open Banking Regime

By Mark Johnston | 18/04/2023

A new body will be created to boost the uptake of open banking in the UK and extend its benefits to other sectors of the economy.

Crypto / Digital Assets

UK Regulator to Impose Limits on Stablecoin Payments

By Mark Johnston | 18/04/2023

The BOE and the FCA will propose new rules by year-end to ensure stablecoins are redeemable in fiat money and do not threaten financial stability.

Market Infrastructure

BOE, CFTC Strengthen Supervisory Cooperation on CCPs

By Editors | 18/04/2023

The Bank of England will rely on the CFTC for supervision and oversight of US-based CCPs offering clearing services in the UK.

Big Picture

AFME, FESE Call for Action on EU Consolidated Tape

By Editors | 17/04/2023

Ahead of EU trilogues on the MiFIR Review, AFME is highlighting the important role of systematic internalisers and FESE is calling for a PFOF ban.

Enforcement

US and Allies to Cooperate to Displace Russia from Nuclear Energy Market

By Editors | 17/04/2023

The US, UK, Canada, Japan and France will leverage their resources and capabilities to undermine Russia’s grip on supply chains.

Sanctions

G7 Says Switzerland Is Not Doing Enough to Combat Sanctions Evasion

By Editors | 17/04/2023

Switzerland, though officially neutral, has frozen Russian assets worth about a third of the EUR 21.5 billion frozen across the EU.

Capital / Liquidity

Fed Approves UBS Acquisition of Credit Suisse US Subsidiaries

By Editors | 16/04/2023

UBS needs authorities in 58 countries to approve the merger, which will create a business with more than $5tr in total invested assets.

Enforcement

SocGen Agrees to $105m Euribor Rigging Settlement

By Editors | 16/04/2023

If approved by the court, the settlement would mean investors have won USD 651.5 million in Euribor-rigging settlements with seven banks.

Enforcement

Former TSB Executive Fined Over 2018 IT Migration Failure

By Editors | 14/04/2023

TSB Bank’s chief information officer was fined for his management of a key outsourcing relationship fell below expected standards.