Europe

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    Sanctions

    EU to Extend Sanctions Regime to Cover Corruption

    By Manesh Samtani | 04/05/2023

    The EU would be able to target serious acts of corruption worldwide with travel bans and asset freezes, similar to the US Magnitsky Act.

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    Capital / Liquidity

    More Credit Suisse AT1 Bondholders Sue FINMA

    By Editors | 04/05/2023

    The suit means that investors representing up to a third of the $17bn in AT1 bonds issued by Credit Suisse have now launched legal action.

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    Capital / Liquidity

    ESMA Follows Through with De-recognition of Indian CCPs

    By Manesh Samtani | 03/05/2023

    So far Indian markets have not faced disruptions. This is attributed to the concessions provided by French and German regulators.

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    Capital / Liquidity

    ECB Scrutinising Bond Losses at European Banks

    By Editors | 30/04/2023

    The ECB is asking banks about their practices for hedging interest rate risk, including to assess whether risks have been shifted to nonbanks.

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    AML / KYC

    UK Convicts Cash Couriers for Laundering Over $130m

    By Editors | 27/04/2023

    The couriers smuggled money from the UK to Dubai using vacuum-packed suitcases sprayed with coffee or air fresheners to evade detection.

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    Capital / Liquidity

    Credit Suisse Reveals Scale of Outflows Pre-UBS Deal

    By Manesh Samtani | 27/04/2023

    UBS is expected to record up to $57bn in profits in Q2 as a result of the deal, the largest ever banking profit recorded.

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    AML / KYC

    Swiss Prosecutors Indict Ex-PetroSaudi Executives in 1MDB Case

    By Editors | 26/04/2023

    The two former executives were paid by Jho Low to set up a joint venture that was used to embezzle $1.8bn from 1MDB.

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    Crypto / Digital Assets

    UK FCA to Develop New Financial Promotions for Crypto Industry

    By Mark Johnston | 26/04/2023

    FCA executive director Sarah Pritchard said the new regime will apply to all firms marketing cryptoassets to UK consumers, regardless of where they are based.

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    Market Infrastructure

    Macau Exchange Signs Cooperative Agreement with LuxSE

    By Editors | 25/04/2023

    Under the agreement, MOX-listed securities can be admitted for listing and trading on LuxSE’s exchange-regulated market, the Euro MTF.

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    AML / KYC

    US Official Details Sanctions Evasion Red Flags During European Visit

    By Editors | 25/04/2023

    Treasury official Brian Nelson met with European officials and FIs last week and shared details about emerging sanctions evasion typologies.

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