Europe

Market Infrastructure

ESMA Recognises Indonesia’s IDClear as Third Country CCP

By Editors | 29/10/2023

The recognition will make it easier and more cost-effective for European counterparties to access Indonesia’s derivatives market.

AML / KYC

UK Ushers in New Laws to Fight Fraud and Financial Crime

By Sanday Chongo Kabange | 27/10/2023

The Economic Crime and Corporate Transparency Act received royal assent. The law enables crypto seizures and introduces a ‘failure to prevent fraud’ offence.

Crypto / Digital Assets

UK FCA Identifies Three Common Issues with Crypto Marketing

By Sanday Chongo Kabange | 26/10/2023

The FCA expects firms authorised to approve financial promotions of cryptoasset firms to take their regulatory obligations seriously.

Enforcement

Authorities Take Down Ragnar Locker Ransomware Gang

By Mark Johnston | 25/10/2023

Europol said a joint operation resulted in the arrest of the main perpetrator behind the ransomware group and the takedown of its infrastructure.

UK Regulators Announce Removal of Banker Bonus Cap

By Editors | 25/10/2023

The BOE and FCA have scrapped rules for banks, building societies, and investment firms which cap bonuses at twice annual salary.

Crypto / Digital Assets

Euroclear Launches DLT-based Digital Securities Issuance Service

By Editors | 25/10/2023

The inaugural Digitally Native Notes were issued by the World Bank on LuxSE, raising €100mn to finance sustainable development activities.

AML / KYC

FATF Removes Switzerland from Enhanced Follow-Up

By Manesh Samtani | 24/10/2023

The FATF upgraded Switzerland’s ratings on two recommendations in response to law reforms that took effect at the beginning of 2023.

Mizuho to Seek EU Regulatory Approval to Convert to Universal Bank

By Editors | 23/10/2023

Mizuho Financial Group plans to merge its Amsterdam-based banking business and its Frankfurt-based securities business in 2025.

Crypto / Digital Assets

EBA, ESMA Consult on Suitability, Remuneration Under MiCA

By Editors | 23/10/2023

Joint guidelines cover suitability of management, owners and board members of crypto firms and stablecoin issuers. Separate EBA consultation covers remuneration policies.