Europe

AML / KYC

UK FCA Calls on Brokers to Enhance AML Systems and Controls

By Mark Johnston | 27/01/2025

The FCA offers recommendations to improve risk assessments, KYC/CDD, governance, and transaction monitoring, among other areas.

Market Infrastructure

Switzerland to Transition to T+1 Settlement Cycle in October 2027

By Mark Johnston | 26/01/2025

Switzerland has confirmed plans to transition to a shorter settlement cycle in October 2027, aligning with the EU and UK’s ambitions.

Sanctions

Russian Court Orders Raiffeisen to Pay €2b in Damages

By Editors | 26/01/2025

Russian lawmakers also working on legislation that will enable outright confiscation of assets belonging to any individual or company from an “unfriendly” country

AML / KYC

UK FCA Calls on Firms to Improve Use of National Fraud Database

By Mark Johnston | 25/01/2025

FCA review found that some firms underutilise the NFD and don’t always report cases that meet the standard of proof required.

Fintech / Regtech

UK FCA Outlines Next Steps to Expand Open Banking

By Thisanka Siripala | 24/01/2025

An independent central operator will be established to coordinate how variable recurring payments are made, potentially lowering processing fees

Securities / Derivatives

FSS Korea Designates LuxSE as ‘Major Overseas Market’

By Mark Johnston | 24/01/2025

Korean companies meeting certain conditions don’t have to submit a domestic securities registration statement to issue foreign currency bonds on LuxSE

Capital / Liquidity

EU Launches Stress Test Exercise to Assess Bank Resilience

By Mark Johnston | 24/01/2025

Banks submitting “overly optimistic” projections will face “additional scrutiny throughout the quality assurance phase, potentially including on-site visits”.

Big Picture

Climate-Linked Bonds Can Help Drive Net Zero Transition: ECB Paper

By Thisanka Siripala | 23/01/2025

Climate-linked bonds can encourage governments to proactively address climate change and help investors hedge against long-term climate risks

Market Infrastructure

ESMA Launches Governance Structure to Support Transition to T+1

By Nithya Subramanian | 23/01/2025

The new governance structure establishes committees and specialised groups to address the regulatory and legal implications of the transition.