Europe

Enforcement

FCA, BOE Set Out Priority Areas for LIBOR Transition

By Manesh Samtani | 30/03/2021

Supervisory tools may be used to address insufficient progress and poor risk management or governance.

Market Infrastructure

FMSB Issues Draft Standard on ‘Appropriate’ Use of Term SONIA

By Manesh Samtani | 28/03/2021

The main use cases where a robust rationale may be identified for using Term SONIA in lending products include trade finance, working capital, and Islamic finance products.

AML / KYC

EU Sanctions Officials from China, Myanmar, Others

By Editors | 22/03/2021

The EU, US, UK and Canada all imposed sanctions against Chinese officials and entities on Monday, citing human rights abuses in Xinjiang.

AML / KYC

FCA Files Criminal Proceedings Against NatWest for AML Failures

By Editors | 19/03/2021

NatWest is facing criminal charges for not adequately monitoring and scrutinising large payments into a corporate client’s accounts.

Securities / Derivatives

ESMA to End 0.1% Threshold for Short Position Reporting

By Editors | 16/03/2021

ESMA says the current financial market environment no longer resembles the emergency situation that required it to tighten short position reporting rules last March.

Securities / Derivatives

Eurex to List KOSPI 200 Futures Product from 22 March

By Editors | 15/03/2021

Eurex already lists KOSPI 200 Options and Mini-KOSPI 200 Futures. The addition of KOSPI 200 Futures will offer trading, hedging and margin efficiencies.

EBA on Heightened Security Alert Following Cyber Attack

By Editors | 09/03/2021

Tens of thousands of organisations in Asia, Europe and the US were targeted in a campaign that exploited vulnerabilities in different versions of Microsoft’s mail server software.

Capital / Liquidity

Japan, EU Boost Cooperation on Insurance Supervision

By Ranamita Chakraborty | 06/03/2021

EIOPA will provide the FSA advice on an equivalence decision under the EU’s Solvency II framework and, later, the monitoring of this decision.

Market Infrastructure

IBA Publishes Beta Version of ICE SONIA Indexes

By Editors | 05/03/2021

The ICE SONIA Indexes can be used to help calculate and process interest accruals from both a lender’s and borrower’s perspective.