12/30/2024
The EBA responds to a law firm on the treatment of some legacy instruments of Banque Fédérative du Crédit Mutuel
Therefore, it is the EBA’s view that BFCM should target the redemption of these instruments.
Legal, Regulation & Compliance
12/30/2024
City regulators to start oversight of tech firms that provide ‘critical’ services to UK
New powers come amid concerns that cyber-attacks and outages could put the country’s financial stability at risk
12/27/2024
Consolidated financial statement of the Eurosystem as at 20 December 2024
This was due primarily to the change in the level of the deposit facility (liability item 2.2) and the longer-term refinancing operations (asset item 5.2).
12/27/2024
French Regulator Urges Better ESG Reporting to Support Carbon Neutral Strategy
The AMF’s study of seven French financial institutions and their European counterparts highlights a lack of coherence between taxonomy reporting, ESG strategies, and other corporate disclosures.
12/27/2024
SEC fines Deutsche Bank $4 million for late filing of suspicious activity reports
Deutsche Bank Securities has agreed to pay a $4 million civil penalty to settle the SEC’s charges.
12/27/2024
Islands need full transparency in fight against dirty money, UK Government says
The Crown Dependencies have company beneficial ownership registers and they share data from these with UK law enforcement via the Exchange of Notes arrangements.
12/27/2024
Colbourne & Company declared in default by Financial Services Compensation Scheme
This means the firm is no longer trading.
12/27/2024
Bahamas' strong financial services laws, products highlighted at STEP Asia
“STEP Asia was a highlight to end the last quarter of 2024,” said Lawrence.
12/24/2024
BaFin and ECB approve Germany’s DekaBank for crypto custody
But let’s not get too excited—this is Germany, after all, where regulation is the order of the day, and every action is measured.
12/23/2024
UK regulator reportedly restrains FNZ, makes platform precedent
Earlier this year the UK financial regulator handed FNZ a so-called ‘section 166’ notice, triggering a review by an independent ‘skilled person’.
12/23/2024
Rule changes proposed by FCA to boost investment
In practice these documents were often complex, unclear, and could miss important points.
12/23/2024
FCA executes search warrants in investigations involving unauthorised business
The operations were conducted because the individuals are suspected of being involved in debt and claims management activities when they were not authorised by the FCA to do so.
12/23/2024
M&G sues Royal London over £86m Ascentric purchase
Asset manager looks for at least £27m in damages on back of investments in high-risk bonds.
12/20/2024
The Bank of England welcomes API Panel of Expert recommendations to enhance cross-border payments
The recommendations in the report and their associated action items are a timely and practical push for increased harmonisation of APIs in cross-border payments.
12/20/2024
FCA apologises to Collateral investors
Collateral offered peer-to-peer style investments. Its directors were able to fraudulently change details about the firms’ public entry on the FCA’s interim permission register.
12/20/2024
EU/EEA banks’ profitability is holding up well despite declining net interest margin
Net interest income and net trading income negatively contributed to the change in ROE.
12/20/2024
Federal Council issues opinion on report of Parliamentary Investigation Committee concerning Credit Suisse
In its report for the attention of the Federal Assembly, the Federal Council sets out its position on the PInC's recommendations, motions and postulates.
12/20/2024
Restatement of Solvency II assimilated law: correction to standard formula mass lapse life underwriting risk rule in PS15/24
Statement by the Prudential Regulation Authority
12/19/2024
Clear of Charges: Dutch Banks' Executive Verdicts
Dutch prosecutors have announced that they will not be pursuing criminal charges against former executives of ING and ABN Amro.
12/19/2024
Wrap up of key legal insights within the Real Estate sector in Belgium
Review the summaries of last year’s publications below, and be prepared to stay informed and to navigate a promising new year in real estate with us.