Europe

AML / KYC

UK FCA Urges Firms to Strengthen Anti-Money Mule Controls

By Mark Johnston | 23/10/2023

The FCA published findings from a review of the systems and controls payment account providers have in place to detect and prevent money mule activity.

AML / KYC

Germany’s BaFin Fines Deutsche Bank for STR Filing Delays

By Editors | 23/10/2023

BaFin said Deutsche Bank submitted suspicious transaction reports to the FIU “with a delay”.

ESG / Sustainability

ESMA Warns on “Misleading” Use of ESG-related Terms by Funds

By ESG Investor | 23/10/2023

Research by ESMA shows that ESG-related named funds attract more inflows, raising concerns about potential greenwashing.

Capital / Liquidity

ECB Publishes Guidance on Counterparty Credit Risk Management

By Mark Johnston | 21/10/2023

Banks dealing with hedge funds and family offices should set up daily monitoring and additional risk control processes to manage those CCR exposures.

Crypto / Digital Assets

Eurex Set to Add Options to Crypto Derivatives Suite

By Mark Johnston | 21/10/2023

The new options contracts will allow investors to deploy new trading strategies with institutional grade trading and clearing safeguards, Eurex said.

Crypto / Digital Assets

ECB Launches Two-Year Preparation Phase for Digital Euro

By Mark Johnston | 20/10/2023

The ECB said its Governing Council will decide after the two year preparation phase whether to proceed to the next stage.

Crypto / Digital Assets

ESMA Calls on NCAs, Crypto Firms to Start Preparing for MiCA

By Manesh Samtani | 20/10/2023

ESMA is concerned that MiCA’s optional grand-fathering period might allow some crypto firms to continue operating without a full licence all the way until July 2026.

Sanctions

US & Allies Reimpose Iran Sanctions Following UNSCR Expiry

By Manesh Samtani | 19/10/2023

A 2015 UN Security Council resolution targeting Iran’s ballistic missile, nuclear, and drone programmes has expired.

Capital / Liquidity

BOE’s Woods Outlines Banking Reforms Under Consideration

By Mark Johnston | 18/10/2023

The BOE is exploring options for maintaining access to deposits in small-bank resolutions, and refining subsidiarisation rules for foreign banks.