Europe

Crypto / Digital Assets

UBS Group Completes Acquisition of Credit Suisse

By Editors | 03/06/2024

“Today we have achieved a significant milestone in our integration journey,” said UBS CEO Sergio Ermotti.

Sanctions

EU Joins Allies in Targeting DPRK-Russia Arms Trade With Sanctions

By Editors | 03/06/2024

The EU announced sanctions against six individuals and three entities for sanctions evasion and providing military support to Russia.

Sanctions

US, EU Announces Sanctions Targeting Iran Drone Programme

By Editors | 03/06/2024

The action aims to “disrupt Iran’s production and proliferation of deadly UAVs that continue to be used by Russia against Ukraine and by regional terrorist proxies.”

Fintech / Regtech

ESMA Issues Guidance on Use of AI by Investment Firms

By Nithya Subramanian | 03/06/2024

The guidance focuses on the organisational, conduct of business, and best interest requirements under MiFID II.

Crypto / Digital Assets

UK Sees Launch of First Six Crypto ETN Products

By Editors | 31/05/2024

21Shares and WisdomTree launched a total six ETNs on the LSE, which are fully backed by physical holdings of Bitcoin or Ethereum.

Capital / Liquidity

EU Adopts Final Basel III Rules, Confirms Jan 2025 Roll-Out

By Manesh Samtani | 31/05/2024

Earlier this week, an ECB official said Basel III should be delayed in the EU if the US is too slow to adopt its own reform plan.

Enforcement

ECB Set to Impose First Fines Over Climate Risk – Report

By Editors | 31/05/2024

As many as four banks are said to be already accruing daily fines, though mitigating factors could be taken into account.

AML / KYC

Switzerland Fines UBS for Yemen-Linked AML Failures

By Editors | 31/05/2024

The bank failed to perform its due diligence obligations and to report suspicious transactions linked to Yemen’s former president.

ESG / Sustainability

European Energy Exchange Establishes Japanese Subsidiary

By Editors | 31/05/2024

EEX said the subsidiary will help it reinforce its presence and strengthen ties with the local trading community and authorities.