Europe

    Market Abuse

    Five Major Banks Face UK Class Action in FX Rigging Case

    By Editors | 31/07/2019

    The class action, estimated to be worth more than $1.2bn for trades executed in the UK, follows a similar-size fine levied against the banks by the European Commission in May.

    Structural Regulation

    Singapore, Australia Benchmarks Gain EU Equivalence

    By Editors | 30/07/2019

    The European Commission has adopted equivalence decisions for Australian and Singapore financial benchmarks, but repealed existing equivalence for credit rating agencies.

    Structural Regulation

    No Time for Complacency Despite Two-Year BMR Reprieve

    By Gregory Campbell | 21/07/2019

    Third country benchmark administrators will need every bit of the additional time granted for BMR compliance to ensure their benchmarks get approved, say PwC’s Gregory Campbell and Daniela Bunea.

    KYC & CDD

    The Rise of Digital Banks in Asia Raises Compliance Questions

    By Claus Christensen | 16/07/2019

    The entrance of FinTech and BigTech firms into banking is forcing incumbents to adapt, but it should not come at a cost to compliance obligations, writes Claus Christensen at Know Your Customer Ltd.

    Clearing & Post-Trade

    CFTC Eases Foreign Clearinghouse Access to US Customers

    By Manesh Samtani | 15/07/2019

    An alternative compliance regime will be provided for non-US DCOs registered with the CFTC, while exempt DCOs will be allowed to offer clearing through foreign intermediaries.

    Trading & Investment

    China, UK Seek to Establish Bond Market Connectivity – Report

    By Editors | 12/07/2019

    Following the success of the Hong Kong Bond Connect and Shanghai-London Stock Connect, China and the UK are exploring the feasibility of a bond connect programme.

    Clearing & Post-Trade

    ESMA Recognises NSE IFSC Clearing Corp as Third Country CCP

    By Editors | 02/07/2019

    The recognition ensures European participants can apply lower risk to trade exposures to NSE IFSC Clearing Corporation and thus benefit from lower capital requirements.

    Clearing & Post-Trade

    BOC Becomes LCH’s First Chinese Clearing Member

    By Editors | 21/06/2019

    Bank of China now has access to clearing of interest rate derivatives at LCH, and can act as a clearing broker to offer the service to its clients.

    Trading & Investment

    CSRC, FCA Officially Launch Shanghai-London Stock Connect

    By Editors | 18/06/2019

    The Shanghai-London Stock Connect has opened for business, allowing listed companies in Shanghai and London to issue depositary receipts in each other’s markets.

    Cybersecurity

    Singapore, UK to Enhance Cooperation on Cyber Security

    By Editors | 14/06/2019

    Authorities in Singapore and the UK have agreed to enhance cooperation in cyber security, data connectivity, talent development and green finance.

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