Europe

Fintech / Regtech

EU’s Digital Operational Resilience Act Wins Final Approval

By Manesh Samtani | 01/12/2022

All financial entities and the third parties that provide them ICT-related services will have to adhere to DORA requirements from around the end of 2024.

Capital / Liquidity

BOE Confirms Planned Approach to Basel III Implementation

By Manesh Samtani | 30/11/2022

The BOE says its approach is consistent with the “vast majority” of major financial jurisdictions, with “appropriate but limited” adjustments for the UK market.

AML / KYC

UK Crypto Fraud Increased 32pc Over One Year Period

By Editors | 30/11/2022

UK police unit Action Fraud said crypto-related fraud losses from October 2021 to September 2022 amounted to $270mn.

AML / KYC

EU to Gain Legal Authority to Punish Sanctions Circumvention

By Editors | 30/11/2022

The move will make it easier for EU authorities to take action against anyone who helps Russia avoid its sanctions.

Capital / Liquidity

ECB to Impose Capital Charges for Leveraged Finance Risk – Report

By Editors | 29/11/2022

The ECB is reportedly planning to impose higher capital requirements on banks to address risk in their leveraged finance businesses.

AML / KYC

EU States Start Closing Access to Beneficial Owners Registers

By Manesh Samtani | 28/11/2022

Luxembourg, Netherlands, Belgium, Austria and Malta have closed public access to their beneficial ownership registers following an EU Court of Justice ruling.

Fintech / Regtech

UK, Singapore to Deepen Collaboration on FinTech, Sustainable Finance

By Editors | 26/11/2022

The UK and Singapore agreed to deepen cooperation on FinTech and sustainable finance, including to explore a global framework for regulating ESG ratings and data providers.

Market Infrastructure

UK Finalises South Korea Data Adequacy Decision

By Editors | 25/11/2022

UK organisations will be able to securely share personal data, including credit information, with South Korea before the end of the year.

Securities / Derivatives

FCA Warns Against Gamification in Stock Trading Apps

By Mark Johnston | 24/11/2022

The proportion of stock trading app users with at-risk gambling behaviours was more prevalent for apps with certain game-like elements.