Europe

Fintech / Regtech

Benefits of Tokenisation Are “Overexaggerated”: WFE Paper

By Nithya Subramanian | 13/06/2024

The WFE says tokenisation work should continue, but that some of the benefits claimed are “overexaggerated”.

Capital / Liquidity

EU Banks Not Meeting Expectations Under IFRS 9

By Manesh Samtani | 12/06/2024

ECB’s Claudia Buch said banks rely too much on overlays, underestimate default risks, and fail to reclassify loans appropriately.

Fintech / Regtech

UK PSR Rejects Calls to Delay Fraud Reimbursement Rules

By Editors | 11/06/2024

Interim head of the PSR, David Geale, said there was a need to “act quickly” on APP fraud and that the new rules would be introduced in October as planned.

ESG / Sustainability

ESMA Tackles Greenwashing with New Tool

By ESG Investor | 10/06/2024

The EU watchdog plans to ramp up scrutiny of sustainable financial products, warning providers not to make “unsubstantiated” claims.

Sanctions

IAEA Issues Resolution Calling for Cooperation from Iran

By Manesh Samtani | 08/06/2024

When proposing the resolution, the UK, France and Germany noted that the power to “snap back” UN sanctions on Iran is available until October 2025.

Capital / Liquidity

Credit Suisse Bondholders Sue Switzerland in New York Court

By Nithya Subramanian | 08/06/2024

The lawsuit accuses Switzerland of “unjustly violating the property rights” of holders of Credit Suisse AT1 bonds.

Sanctions

Whistleblower Alleges AWS Breached UK Sanctions – Report

By Editors | 08/06/2024

A former AWS employee alleges he was unfairly dismissed for raising concerns about facial recognition technology being illegally supplied to Russia.

Fintech / Regtech

Hackers Put Stolen Santander Data Up for Sale – Reports

By Editors | 05/06/2024

The hacking group reportedly stole 30 million customers’ bank account details and 28 million credit card numbers, among other information.

Market Infrastructure

ECB Consults on Guidance for Outsourced Cloud Services

By Mark Johnston | 05/06/2024

The guide covers governance of cloud services, disaster recovery, data security and confidentiality, exit strategy, and other areas.