Europe

AML / KYC

Swiss Prosecutors Investigate Credit Suisse’s 2022 Data Leak

By Sanday Chongo Kabange | 08/02/2023

The investigation centres on suspected acts of corporate espionage, breach of trade secrets and violations of banking secrecy laws.

Crypto / Digital Assets

UK Unveils Roadmap to Potential Digital Pound Issuance

By Manesh Samtani | 08/02/2023

If issued, the digital pound would be subject to strict privacy standards. It would be intended for payments, non-interest-bearing, and subject to an initial cap on holdings.

Crypto / Digital Assets

UK FCA Directs Crypto Firms to Prepare for New Ad Rules

By Editors | 08/02/2023

Breaches of the rules can result in takedowns of websites, public warnings, and other actions, including up to two years in prison.

Enforcement

UK FCA Blocked Over 8,500 Misleading Ads Last Year

By Editors | 06/02/2023

The FCA will continue to put pressure on those using social media to illegally promote investments. In July, it will also introduce the new ‘Consumer Duty’.

Enforcement

Barclays, UBS Face Scrutiny Over Ties to Sanctioned Russian

By Editors | 03/02/2023

The beneficial ownership of ten offshore trusts owned by Russian oligarch Roman Abramovich was changed shortly before he was sanctioned in the EU and UK.

Securities / Derivatives

Ransomware Attack Against ION Markets Hit Derivatives Traders

By Manesh Samtani | 03/02/2023

The incident has forced firms to manually process derivatives trades. Ransomware gang Lockbit has threatened to publish stolen data unless a ransom is paid.

AML / KYC

UK Deadline Passes for Foreign Property Owners to Declare Identity

By Manesh Samtani | 02/02/2023

The register has so far established that various billionaire businessmen, political donors, criminals, and sanctioned individuals own UK property through offshore jurisdictions.

Capital / Liquidity

EBA Unveils Methodology for EU-Wide Stress Test

By Editors | 02/02/2023

The 6 percent GDP decline in the adverse scenario makes it the most severe scenario ever used in the EU-wide stress test.

AML / KYC

UK Launches Consultation on Regulatory Framework for Crypto

By Manesh Samtani | 01/02/2023

The framework will require crypto exchanges to define token listing standards, strengthen rules for intermediaries and custodians, and introduce a crypto market abuse regime.