Europe

Crypto / Digital Assets

UK Gov Publishes Financial Services and Markets Bill

By Editors | 22/07/2022

The bill establishes HM Treasury’s authority to make regulations for digital assets including stablecoins.

Securities / Derivatives

LME Delays New Reporting Requirements to 5 September

By Editors | 19/07/2022

Market participants expressed concerns regarding their ability to ensure data is properly and accurately reported by the implementation date, earlier set for 18 July.

Crypto / Digital Assets

UK Commences Inquiry Into Crypto Asset Risks and Opportunities

By Editors | 17/07/2022

A UK parliamentary committee is collecting evidence on the opportunities and risks that crypto-assets may bring to consumers, businesses and the government.

Market Infrastructure

How the UK Intends to Reform Data Protection Law

By Nick Westbrook | 14/07/2022

Nick Westbrook outlines the most significant areas of reform to the UK GDPR since it came into force in May 2018.

AML / KYC

UK Issues Guidance on Preventing Sanctions Evasion

By Editors | 14/07/2022

London-based enablers are “almost certain” to be in senior positions within their company or business, says a red alert from the NCA and OFSI.

Crypto / Digital Assets

BOE Calls for Clear Regulatory Framework for Crypto Assets

By Mark Johnston | 14/07/2022

BOE’s Jon Cunliffe said the extension of a regulatory framework to encompass crypto must be grounded in the iron principle of ‘same risk, same regulatory outcome’.

Capital / Liquidity

ECB Climate Stress Test Finds Bank Practices Lacking

By Editors | 11/07/2022

60% of banks don’t have a climate risk stress testing framework. Only 20% of banks consider climate risk when granting loans.

AML / KYC

EU Council Agrees Position on Bloc-Wide AML Authority

By Editors | 06/07/2022

The AMLA will directly supervise certain types of credit and financial institutions, including crypto asset service providers, starting in 2026.

AML / KYC

UK Sanctions More Russians, Restricts More Belarusian Trade

By Editors | 06/07/2022

Last week, the UK Parliament’s Foreign Affairs Committee published a report calling on the government to “act now” to tackle the flow of illicit finance through London.