Europe

Capital / Liquidity

EU Lawmakers Back Plans to Improve Bank Resolution Framework

By Editors | 09/11/2023

Jonás Fernández said the rule changes will level the playing field among different banking structures in the EU, while ensuring that banks will remain safe.

Sanctions

UK Targets Russian Gold and Oil as EU Preps New Sanctions Package

By Editors | 08/11/2023

UK government announced asset freezes on 29 individuals and entities in Russia’s gold, oil, and strategic sectors.

AML / KYC

UK FCA Urges Firms to Do More to Combat APP Fraud

By Manesh Samtani | 08/11/2023

Firms are not adequately focused on delivering good outcomes to consumers,  supporting victims of fraud, and handling complaints in a timely manner.

Crypto / Digital Assets

UK Regulators Set Out Roadmap for Regulating Stablecoins

By Manesh Samtani | 07/11/2023

The FCA and BOE published discussion papers outlining the UK’s proposed regulatory approach for regulating fiat-backed stablecoins.

Crypto / Digital Assets

FCA Finalises Guidance on Cryptoasset Financial Promotions

By Editors | 05/11/2023

Crypto promotions should apply the Consumer Duty; finfluencers should disclose commercial relationships; regulated status should not be used in a promotional way.

Sanctions

US, UK, Canada Announce New Myanmar Sanctions

By Editors | 01/11/2023

OFAC restricts financing to Myanma Oil and Gas Enterprise (MOGE), as UK and Canada add new names to asset freeze lists.

Crypto / Digital Assets

UK Confirms Plans to Implement New Rules for Crypto, Stablecoin

By Editors | 31/10/2023

Treasury says the government aims to have legislation for the new regime before Parliament in 2024.

Crypto / Digital Assets

MAS Establishes Project Guardian Policymaker Group

By Editors | 30/10/2023

MAS will work with Japan’s FSA, the UK’s FCA and Switzerland’s FINMA to advance the development of tokenised digital assets.

AML / KYC

ESMA Forced to Pause Withdrawal of UAE CCP Recognition

By Editors | 30/10/2023

ESMA’s decision to withdraw its recognition of the Dubai Commodities Clearing Corporation is effectively suspended.