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Financial Services

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EU race for bond consolidated tape enters final phase March 21, 2025 | Sofia Gerace

Tech company Etrading Software and Bondtape — a partnership comprising Finbourne and Propellant Digital — have both made it through the initial selection process to run the EU bond consolidated tape. The Europ... (more story)

In support of financial sector's AI use, South Korean official calls for new mindset March 21, 2025 | Choonsik Yoo

The deputy head of South Korea's financial regulator reaffirmed the agency's continued support for a broader use of artificial intelligence in the financial industry, by emphasizing the need to address risks a... (more story)

Four new EU General Court judges set to be approved next week March 20, 2025 | Jean Comte

Nominations of several members of the EU's lower-tier General Court are set to be approved by representatives of member states on March 26, according to a document seen by MLex. Two will be appointed for the n... (more story)

London Metal Exchange fined GBP9 million over 2022 nickel crisis failings March 20, 2025 | Phoebe Seers

The London Metal Exchange has been fined 9.2 million pounds by the UK financial watchdog over failures that led to it suspending its nickel market and cancelling trades following a massive spike in prices in M... (more story)

Global Forestry Investment fraudsters see UK Supreme Court bid rejected March 20, 2025 | Martin Coyle

Two men convicted of running a fraudulent investment scheme promoting teak plantations in Brazil today lost their bids to take appeals for both their sentences and convictions to the UK’s top court. Judges at ... (more story)

Make UK FCA abandon its e-mail deletion plan, government and lawmakers urged March 20, 2025 | Phoebe Seers

The UK’s financial services minister Emma Reynolds, as well as key lawmakers, have been urged to make the Financial Conduct Authority abandon its upcoming plan to start automatically deleting e-mails that are ... (more story)

Former Credit Suisse compliance chief fined by Swiss over 'tuna bonds' lapses March 19, 2025 | Martin Coyle

Credit Suisse’s former head of compliance has been fined 100,000 Swiss francs by the country’s finance ministry over failings linked to the Mozambican tuna bonds scandal. The Swiss bank, now part of UBS, paid ... (more story)

Russian politician Ovsiannikov and family broke UK sanctions, court told March 18, 2025 | Martin Coyle

A former Russian government minister was helped by his brother and wife to avoid UK sanctions to open a bank account and buy a luxury Mercedes-Benz car, a London court was told today. Dmitrii Ovsiannikov is ch... (more story)

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On EU-level financial supervision, leaders make steps but uncertainty remains March 21, 2025 | Fanny Roux

Regulatory changes to EU financial services are needed to “create truly integrated and deeper European capital markets, by achieving the Capital Markets Union as a matter of urgency,” EU leaders concluded at t... (more story)

Removal of US FTC commissioners stirs court fight on presidential power March 19, 2025 | Claude R. Marx and Dwight A. Weingarten

US President Donald Trump’s firing of Democratic Federal Trade Commission members Alvaro Bedoya and Rebecca Kelly Slaughter is setting up a likely Supreme Court fight that could dramatically reshape the executive branch.

Is EU-level financial oversight growing on governments? Look for clues tomorrow March 19, 2025 | Fanny Roux

Strengthening EU-wide supervision of financial services is back on the agenda for the European Commission, which today put forward proposals as part of its “Savings and Investment Union.” Some EU member states... (more story)

Will UK crypto sector get a real choice over consumer duty or bespoke rules? March 19, 2025 | Phoebe Seers

Responses to a recent consultation on a future UK regulatory regime for cryptoassets show the industry is divided on whether the Consumer Duty, which requires firms to secure good outcomes for consumers, is en... (more story)

Chief UK regulator warns market must be ready for ‘more things to go wrong’ March 18, 2025 | Sofia Gerace

As the UK government asks regulators to help grow the economy and take more risk, the market needs to be ready for “more things to go wrong,” according to Nikhil Rathi, the chief of the UK Financial Conduct Au... (more story)

Why New Zealand is broadening its antitrust focus beyond the grocery sector March 18, 2025 | Saloni Sinha

A push by New Zealand’s center-right government to reinvigorate antitrust policy and enforcement may be driven by a belief, put forward recently by the Organization for Economic Cooperation and Development, th... (more story)

Canada accelerates timeline for anti-money laundering regulatory changes March 17, 2025 | Samuel Rubenfeld

The Canadian government has moved up its timeline for changes to its anti-money laundering regulatory regime, bringing them into force on April 1 – six months earlier than originally proposed. Companies subjec... (more story)

US FTC noncompete rule in jeopardy, but labor restraints remain risky March 13, 2025 | Chris May and Clayton Vickers

A pause on US Federal Trade Commission litigation defending a controversial nationwide ban of noncompete agreements, alongside a new agency labor antitrust task force, has offered a mixed bag for employers try... (more story)