The euro area financial system has been resilient through occasional bouts of financial market volatility in the second half of the year, according to the ECB’s latest Financial Stability Review. Continue reading…

The ECB and the PBC have successfully completed tests of their existing bilateral currency swap arrangement. From a Eurosystem perspective, the arrangement serves as a backstop facility to address sudden and temporary disruptions in the renminbi market due to liquidity shortages in euro area banks. Liquidity providing arrangements contribute to global financial stability and the arrangement with the PBC is a recognition of the rapidly growing bilateral trade and investment between the euro area and China.
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The Financial Conduct Authority (FCA) has today fined Barclays Bank (Barclays) £72,069,400 for failing to minimise the risk that it may be used to facilitate financial crime. The failings relate to a £1.88 billion pound transaction (Transaction) that Barclays arranged and executed in 2011 and 2012 for a number of ultra-high-net-worth clients. The clients involved were politically exposed persons (PEPs) and should therefore have been subject to enhanced levels of due diligence and monitoring by Barclays.

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The new €20, the third in the Europa series, enters into circulation today. It has a refreshed look and more vibrant colours, and includes a new kind of security feature: a “portrait window” near the top of the hologram stripe which becomes transparent when seen against the light. The window reveals a portrait of Europa, a figure from Greek mythology, which is visible on both sides of the note. The same portrait is also visible in the watermark, alongside an emerald number which displays an effect of the light moving up and down when the note is tilted – exactly like in the €5 and €10 of the Europa series.
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Delta Lloyd Asset Management accepts the Netherlands Authority for the Financial Markets’ (AFM) decision to impose a fine, which was published on 3 August, and has paid the related fine of € 750,000. Continue reading…

The Risk & Compliance Platform Europe announces that in cooperation with our German partner, CO.IN Medien Verlaggesellschaft mbH, the German website has been launched. You can find all relevant news regarding risk and compliance issues in German on this website.

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The Financial Conduct Authority (FCA) has today fined Mothahir Miah, a former Investment Analyst at Aviva Investors Global Services Limited (Aviva Investors), £139,000 and banned him from performing any function in relation to any regulated activity in the financial services industry for failing to act with honesty and integrity.

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The Hague Security Delta (HSD) is the largest security cluster in Europe. In this Dutch cluster –with important regional hubs in The Hague, Twente, and Brabant– businesses, governments, and knowledge institutions work together on innovation and knowledge in the fields of cyber security, national and urban security, protection of critical infrastructure, and forensics. They share a common goal: more business activity, more jobs and a secure world.

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Eurosystem publishes amended legal act to reflect the decision of the Governing Council of 3 September 2015 to increase the PSPP issue share limit, making the higher issue limit effective. Continue reading…

The European Securities and Markets Authority (ESMA) has elected three new members to its Management Board to replace outgoing members whose term expires in November this year. The election took place at the Board of Supervisors meeting in Luxembourg on 5 November and the successful candidates, who will serve a term of 2½ years beginning on 1 December 2015, are :

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