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Fintech / Regtech
NPCI Signs Agreement to Enable UPI Payments in UK
By Editors | 26/08/2022
India’s UPI-based QR code payments will be available in the UK on all of PayXpert’s android POS devices for in-store payments.
Enforcement
FCA Fines Citi’s UK Unit Over Trade Surveillance Issues
By Editors | 24/08/2022
The FCA said Citigroup did not properly implement MAR requirements to monitor orders and trades to detect market abuse.
Capital / Liquidity
ECB Targets Harmonisation of Crypto Licensing Requirements
By Editors | 24/08/2022
The ECB will look to ensure capital requirements criteria are applied when national regulators assess crypto-related licensing requests.
Market Infrastructure
ESMA Calls for Relaxation of BMR Third-country Regime
By Manesh Samtani | 23/08/2022
The current regime could impair the competitiveness of EU investors and, more generally, the EU financial market when the transitional period expires.
Sanctions
LME Bans Russian Nickel From UK Warehouse Facilities
By Editors | 18/08/2022
Higher duties on Russian metals imposed as part of a sanctions package have now been extended to nickel.
Market Infrastructure
Industry Calls for Reforms to EU Benchmarks Regulation
By Manesh Samtani | 15/08/2022
Many non-EU benchmarks won’t qualify under BMR in time for 31 December 2023, disproportionately impacting Asia exposures.
Big Picture
ECB Explores Effectiveness of ‘Green QE’ in Mitigating Climate Change
By Editors | 14/08/2022
Green quantitative easing may be an effective policy instrument if governments fail to introduce a carbon tax or equivalent carbon pricing mechanism.
ESG / Sustainability
FCA Sets Out Supervisory Priorities for Alternative Funds
By Manesh Samtani | 11/08/2022
Firms offering ESG products should expect to be subject to review to ensure marketing materials are not misleading.
AML / KYC
US Secures Extradition of Former Crypto Exchange Operator
By Editors | 09/08/2022
Alexander Vinnik is alleged to have laundered more than $4bn through a crypto exchange he operated known as BTC-e until it was shut down in 2017.
AML / KYC
Switzerland Aligns with EU in Latest Russia Sanctions
By Editors | 05/08/2022
The Swiss government is imposing a ban on buying, importing or transporting gold and gold products from Russia. Sberbank is also banned.
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