Banking associations from Japan, the United States and Switzerland have criticised post-Brexit proposals by the European Banking Authority to centralise equivalence assessments for non-EU banks’ local branches within the bloc.
22 September 2021
Zurich-based FMI operator Six, advised by Heuking Kühn Lüer Wojtek, has obtained the first-ever Swiss licence for a central securities depository to use distributed ledger technology to support digital currencies.
13 September 2021
Credit Suisse exercised a “persistent failure” to manage and remediate identified risks associated with Archegos Capital before its eventual collapse, according to an independent external investigation conducted by Paul Weiss.
29 July 2021
The secretary-general of the Basel Committee on Banking Supervision and the CEO of insurer Zurich are set to take senior roles at the Bank of Canada and Swiss regulator FINMA respectively.
19 July 2021
The Bank for International Settlements has backed two-tier central bank digital currencies, with its head of research calling them “a concept whose time has come”.
24 June 2021
Banks with cryptoasset exposure will be heavily regulated – and have to maintain the full value of crypto held – under new proposals from the Basel Committee, which predict increasing risk to banks from the volatile assets.
14 June 2021
Facebook-backed digital currency project Diem – formerly Libra – has withdrawn its payment system licence application in Switzerland, instead announcing a shift to the United States alongside a partnership with crypto-friendly bank Silvergate.
14 May 2021
Credit Suisse is facing a proposed class action in New York, over allegations it hid defects in its risk policies so it could extend excessive leverage to trade finance provider Greensill and family office Archegos Capital.
21 April 2021
Germany’s government has recruited the head of Switzerland’s financial markets authority to lead its own watchdog BaFin.
24 March 2021
Switzerland’s banking regulator has told crypto broker Bitcoin Suisse its application for a banking licence is “ineligible for approval”, after it uncovered weaknesses in its money laundering defence mechanisms.
18 March 2021
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