Europe

AML / KYC

OFSI Fines Standard Chartered $25m for Sanctions Breaches

By Editors | 07/04/2020

Standard Chartered made a series of loans to a Turkish private bank, which at the time was almost wholly owned by Sberbank, a sanctioned Russian bank.

Securities / Derivatives

Banks Scrap Dividends, Buybacks Amid Regulatory Pressure

By Manesh Samtani | 02/04/2020

HSBC and Standard Chartered are among the banks that have scrapped their 2019/2020 dividends and agreed not to buy back shares.

Capital / Liquidity

ECB Calls on Banks to Suspend Dividends, Buybacks for Six Months

By Editors | 30/03/2020

Rabobank, ING, ABN Amro, UniCredit, Commerzbank, Banco Santander, KBC Bank, Allied Irish Bank and Bank of Ireland have suspended dividend and buyback plans until 1 October.

Market Infrastructure

Interim LIBOR Transition Milestones May Be Affected: FCA

By Editors | 26/03/2020

While end-2021 remains the firm target date for all firms to meet, interim transition milestones in some of the less prepared segments such as loan markets may be affected.

Securities / Derivatives

EU, US, UK Authorities Grant Relief on Call Recording Rules

By Editors | 23/03/2020

ESMA, the CFTC and the FCA have each indicated that financial firms can consider alternative mitigating steps in circumstances where call recording with clients is not possible.

ECB Launches €750b Emergency Asset Purchase Programme

By Editors | 20/03/2020

The ‘Pandemic Emergency Purchase Programme’ will include purchases of public and private securities, including non-financial commercial paper and Greek sovereign bonds, until end-2020.

Market Infrastructure

ESMA Defers SFTR Start Date for Phase One Reporting Entities

By Editors | 19/03/2020

ESMA now expects trade repositories, credit institutions, investment firms to be ready for SFTR reporting from 13 July, alongside CSDs and CCPs.

Capital / Liquidity

ECB Announces Stimulus Measures, Banks Granted Regulatory Relief

By Editors | 13/03/2020

The measures include liquidity facilities to help businesses, targeted asset purchases, and relaxed regulatory requirements for banks.

Market Infrastructure

Eurex Approved to Offer Clearing Services in Japan

By Editors | 12/03/2020

The FSA licence will allow Japanese financial institutions to combine their listed and OTC euro yield curve businesses in one single place, Eurex says.