Europe

Big Picture

ECB Concerned with Russia Exposures, Bad Debt Risks

By Editors | 14/02/2023

The ECB says it would welcome more exits from Russia by eurozone banks, and that higher borrowing costs could lead to a build-up of bad loans.

Market Infrastructure

Japan, EU Establish Cooperation Framework on Insurance Supervision

By Editors | 14/02/2023

The cooperation framework promotes mutual understanding, exchange of information and technical assistance between the FSA and EIOPA.

AML / KYC

FCA Investigating Barclays for KYC and AML Incidents

By Editors | 14/02/2023

The FCA reportedly directed Barclays to undergo an independent review due to concerns about a large volume of KYC and AML incidents.

ESG / Sustainability

UK FCA Moots New ESG Regulation

By ESG Investor | 14/02/2023

The FCA is seeking feedback on introducing regulatory expectations or guidance on senior management responsibilities for regulated firms’ sustainability-related strategies.

Sanctions

UK Adds Russia Sanctions, EU Prepares Next Package

By Manesh Samtani | 14/02/2023

The US will crack down on facilitators and third-country providers helping Russia evade sanctions, whether “wittingly or unwittingly”.

Market Infrastructure

CFIUS Confirms ‘Excepted Foreign State’ Status for UK, New Zealand

By Editors | 13/02/2023

UK and New Zealand investors do not have to undergo national security reviews for noncontrolling investments in the US.

Fintech / Regtech

EU Parliamentarians Back Eurozone Digital Wallet Framework

By Sanday Chongo Kabange | 12/02/2023

The EU Digital Identity Wallet, expected to go live in 2024, will make it possible to store personal credentials within a single digital ID.

Enforcement

US, UK Jointly Sanction Russian Ransomware Actors

By Editors | 12/02/2023

The first-of-its-kind joint action marks the first time suspected ransomware operators have been designated under the UK sanctions regime.

Crypto / Digital Assets

Deutsche Börse, Google Cloud Establish Partnership on Digital Assets

By Sanday Chongo Kabange | 12/02/2023

Deutsche Börse Group will leverage Google Cloud to accelerate the development of digital securities platform D7, and deliver crypto spot and derivatives products.