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JPMorgan Asset Management has launched an exchange-traded fund that gives exposure to developed markets outside North America. The JPMorgan BetaBuilders International Equity ETF is linked to the Morningstar Developed Markets ex-North America Target Market Exposure Index. ETF (05 Dec.)

European officials are divided on the best way to proceed toward a banking union. EU Economy Commissioner Paolo Gentiloni calls Germany's proposal unacceptable, while Italian economy minister Roberto Gualtieri says Italy will make its own proposal. Financial Times (subscription required) (05 Dec.)

Dutch Finance Minister Wopke Hoekstra has called on the EU to form a common agency to combat money laundering. "Those who think that this problem is mostly a problem that is linked to some of the banks in some of the countries are up for a rude awakening," Hoekstra says. BNN Bloomberg (Canada) (05 Dec.)