Europe

Sanctions

EU Expands Sanctions “Carve-Out” for Humanitarian Aid

By Editors | 28/11/2023

Latest Council decision will permit humanitarian transactions with EU-sanctions targets under 10 sanctions programs.

Crypto / Digital Assets

EBA Consults on Travel Rule Guidelines for Funds and Crypto Transfers

By Mark Johnston | 27/11/2023

The EBA plans new guidelines to prevent the misuse of funds and crypto-assets transfers for illicit purposes, aligning with FATF standards.

Crypto / Digital Assets

UK Funds Can Start Tokenising Funds, FCA Confirms

By Mark Johnston | 25/11/2023

In this initial stage, FCA authorised funds can implement tokenisation using a “baseline approach”, provided they meet certain characteristics.

Fintech / Regtech

UK FCA Seeks Input on Big Tech’s Data Advantage in Finance

By Mark Johnston | 25/11/2023

The FCA invites responses from national and international competition authorities and regulators, as well as Big Tech firms, financial services firms, consumer groups, and academics.

Enforcement

EU Commission Fines Rabobank for Participating in Bond Trading Cartel

By Editors | 23/11/2023

Deutsche Bank also participated in the cartel but was not fined because it revealed the cartel to the Commission under its leniency programme.

Enforcement

ECB Threatens Fines for Banks Lagging on Climate Risk

By Mark Johnston | 23/11/2023

The central bank has given about 20 banks individual deadlines to fix their shortcomings in managing climate and environmental risks.

Market Infrastructure

Asian Firms Must Tackle T+1 Long Before May

By Javier Hernani Burzaco | 19/11/2023

European and APAC firms that act quickly to prepare for T+1 settlement in North America would gain a competitive advantage, writes Javier Hernani Burzaco.

Enforcement

EU Reaches Provisional Agreement on Environmental Crime Directive

By Mark Johnston | 17/11/2023

The revised directive replaces the 2008 version, which was found to have a limited effect with sanction levels that were too low.

ESG / Sustainability

UK FCA Finds Fault with Retail ESG Funds

By ESG Investor | 17/11/2023

The FCA reviewed the fund disclosures and approaches of 12 fund managers which offered active or passive retail funds with ESG or sustainability-related names.