Europe

AML / KYC

UK Court Orders Glencore to Pay Over $300m for Africa Oil Bribes

By Editors | 08/11/2022

The SFO found that Glencore funnelled about $29mn worth of bribes between 2011 and 2016 to gain access to oil rights across Africa.

Crypto / Digital Assets

EU Parliament to Delay MiCA Vote Until Feb 2023 – Report

By Editors | 07/11/2022

The European Parliament was planning to hold its vote on the MiCA text in December. The European Council approved the text in early October.

Crypto / Digital Assets

SIX Dually Lists UBS Bond on Digital & Traditional Exchanges

By Editors | 07/11/2022

UBS says the issuance is the world’s first public benchmark bond that investors can access in both digital and traditional markets.

ESG / Sustainability

ECB Sets New Deadlines for Managing Climate & Environmental Risks

By Manesh Samtani | 04/11/2022

The deadlines will be closely monitored and, if necessary, enforcement action will be taken, the ECB said, adding that bank capital requirements are already being affected.

Crypto / Digital Assets

BIS Innovation Hub to Explore Use of DeFi Protocols in CBDC Trades

By Editors | 03/11/2022

Project Mariana involves the Eurosystem, Singapore and Switzerland BIS Innovation Hub Centres, together with the Bank of France, MAS and Swiss National Bank.

Enforcement

New York Court Dismisses Tom Hayes LIBOR Rigging Case

By Editors | 01/11/2022

US prosecutors had filed a motion to dismiss the case after two other traders were acquitted in January. Hayes is still trying to get his UK conviction overturned.

Market Infrastructure

ESMA to Withdraw Recognition of Six Indian CCPs

By Editors | 01/11/2022

EMIR conditions for recognition are not met because no cooperation arrangements have been concluded between ESMA and the relevant Indian authorities.

Capital / Liquidity

Credit Suisse Unveils Plans to Finance Restructuring Programme

By Editors | 31/10/2022

FINMA will monitor Credit Suisse to ensure it meets all of its regulatory requirements during the implementation of its restructuring programme.

ESG / Sustainability

SFDR Level 2 – Implications for SFC Authorised UCITS Funds

By Alwyn Li | 31/10/2022

Alwyn Li and Vincci Ip discuss pre-contractual disclosure requirements for SFDR Article 8 and Article 9 funds and the relevant regulatory requirements in Hong Kong.