News Centre

UK Prudential Regulation Authority Imposes Record Fine Of £87m On Credit Suisse For Serious Risk Management And Governance Failures In Connection With Archegos Capital Management Exposure

Date 24/07/2023

The Prudential Regulation Authority (“PRA”) has fined Credit Suisse International (“CSI”) and Credit Suisse Securities (Europe) Ltd (“CSSEL”, together with CSI, the “Firms”) £87 million for significant failures in risk management and governance between 1 January 2020 and 31 March 2021, in connection with the Firms’ exposures to Archegos Capital Management (“Archegos").  This is the PRA’s highest fine and the only time a PRA enforcement investigation has established breaches of four PRA Fundamental Rules. 

Archegos: FINMA Concludes Proceedings Against Credit Suisse

Date 24/07/2023

In the course of its enforcement proceedings, the Swiss Financial Market Supervisory Authority FINMA found that Credit Suisse had seriously and systematically violated financial market law in the context of its business relationship with the Archegos family office. FINMA is ordering corrective measures from its legal successor, UBS. In addition, FINMA has opened enforcement proceedings against a former Credit Suisse manager. At the same time as FINMA, the authorities in the USA and the UK are also announcing their findings in this matter.

Foreign Transactions On NGX Rise To N145.1bn In Six Months

Date 24/07/2023

Amid the bounce of a new administration and raft of changes in government policies, total foreign transactions performed by investors at the floor of the Nigerian Exchange Limited (NGX) grew to N145.08 billion in the first six months (H1) of 2023.

deutscher-link.com: BaFin Investigates Deutscher-Link

Date 24/07/2023

The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) warns consumers about the company Deutscher-Link and the services it is offering. BaFin has information that the company is providing financial and/or investment services on its website deutscher-link.com without the required authorisation.

Bank Of England: Letter From Christopher Jackson And Robert Zammit On Firms’ Preparations For The Second Resolvability Assessment Framework (RAF) Assessment

Date 24/07/2023

Letter to Chief Financial Officers of the major UK banks ahead of the second RAF assessment

Karin Yorfido Appointed President Of Broadridge Canada

Date 24/07/2023

To meet the continued growth of the Canadian market, global Fintech leader Broadridge Financial Solutions, Inc. (NYSE: BR) is pleased to announce the appointment of Karin Yorfido as President of Broadridge Canada. Yorfido succeeds Michael Dignam who will become Vice Chairman of Broadridge Canada, taking on an advisory role.

FEAS Newsletter: July 2023 - ConFEAS Report Journal Is Out Now

Date 24/07/2023

wealthkasse.com: BaFin Investigates Wealth Kasse

Date 24/07/2023

The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) warns consumers about the company Wealth Kasse and the services it is offering. BaFin has information that the company is providing financial and/or investment services on its website wealthkasse.com without the required authorisation.

Nasdaq Chair & CEO Adena Friedman To Present At The Oppenheimer 26th Annual Technology, Internet & Communications Conference

Date 24/07/2023

Nasdaq (Nasdaq: NDAQ) will be presenting at the following conference with a webcast available at Nasdaq’s Investor Relations website: ir.nasdaq.com/events.cfm.

Minor Outflows In Bitcoin, Investors Favouring Ethereum | CoinShares Fund Flows Report

Date 24/07/2023

• Digital asset investment products saw minor outflows totalling US$6.5m, following 4 prior weeks of inflows that totalled US$742m.
• Bitcoin was the primary focus, as has recently been the case, seeing US$13m of outflows, while short bitcoin investment products saw outflows for the 13th consecutive week totalling US$5.5m.
• Ethereum topped the leaderboard last week, seeing US$6.6m inflows, suggesting sentiment, which has been poor this year, is slowly beginning to turn around.