Credit Suisse has announced plans to draw back from its hedge fund financing activities to focus on private banking and wealth management, following a year that has seen it burned by both the Archegos and Greensill collapses and a set of regulatory interventions.
04 November 2021
Regulators and central banks have issued more climate-related commitments to coincide with COP26’s finance day, including preparations from the United Kingdom for becoming the world’s first “net-zero aligned finance centre” and the IFRS announcing plans for a single standard for sustainability disclosures.
04 November 2021
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Facebook-backed digital currency project Diem – formerly Libra – has withdrawn its payment system licence application in Switzerland, instead announcing a shift to the United States alongside a partnership with crypto-friendly bank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
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