Europe

Sanctions

UK, US, EU Announce Fresh Sanctions Against Iran

By Editors | 24/04/2023

US sanctions four senior Iranian law enforcement and military officials; EU sanctions eight Iranians and telco provider; UK sanctions four IRGC commanders.

ING Files Suit Against ICBC Over Losses on Copper Deals

By Editors | 24/04/2023

ICBC allegedly released export documents for copper deals without collecting payment, resulting in $170m in losses to ING, which was financing those deals.

ESG / Sustainability

Asian Asset Managers Lag Europe on ESG, says WWF-Singapore

By Mark Johnston | 23/04/2023

Only 38 percent of Asian asset managers reporting on responsible investing actions, compared with 100 percent of European asset managers.

Capital / Liquidity

Credit Suisse AT1 Bondholders File Suit Against FINMA

By Editors | 22/04/2023

Investors representing over $5bn of Credit Suisse AT1 bonds are seeking redress for the losses they suffered during the takeover by UBS.

Sanctions

UK Sanctions Russians Over ‘Politically-motivated Conviction’

By Editors | 21/04/2023

The sanctions target two FSB agents who were allegedly involved in poisoning political activist Vladimir Kara-Murza, as well as a judge and two investigators.

Capital / Liquidity

ECB Calling on US Banks to Relocate More Assets to EU

By Mark Johnston | 21/04/2023

The ECB has urged US banks to move more assets and risk to the euro area after a “desk mapping” review that took place last year.

Crypto / Digital Assets

Societe Generale Launches EUR Stablecoin on Public Blockchain

By Editors | 21/04/2023

The stablecoin’s legal structure guarantees complete segregation of the collateral assets held to back its value.

Securities / Derivatives

Singapore Investors Prepare to Sue Over Credit Suisse AT1 Bond Losses

By Editors | 21/04/2023

Lawyers for Singapore investors are preparing to argue that the Swiss government’s decision to write off Credit Suisse AT1 bonds violated a free trade agreement.

AML / KYC

European Parliament Gives Final Approval on MiCA Law

By Manesh Samtani | 21/04/2023

MiCA is expected to come into force around July; provisions relating to stablecoins from July 2024; and provisions relating to CASPs and the travel rule from January 2025.