Europe

Securities / Derivatives

DSB Launches UPI Service, a Milestone for Derivatives Markets

By Manesh Samtani | 18/10/2023

The US, EU, UK, Australia and Singapore will all start requiring UPI reporting for OTC derivatives transactions in 2024.

FCA Seeks Reforms to Bolster UK Fund Management Industry

By Mark Johnston | 16/10/2023

FCA chair Ashley Alder outlined plans to reform the UK asset management regime, focusing on proportionality, innovation and productive investment.

AML / KYC

Germany’s FIU Head Resigns Over Hidden SAR Backlog – Report

By Editors | 16/10/2023

The government has acknowledged that the FIU did not disclose a backlog of over 100,000 unprocessed suspicious activity reports to the FATF during its last evaluation.

Enforcement

UK FCA Fines Equifax £11m Over 2017 Cybersecurity Breach

By Editors | 16/10/2023

The FCA said the 2017 cyber breach against Equifax’s US parent allowed hackers to access the personal data of 13.8 million UK consumers.

Capital / Liquidity

EBA Proposes to Integrate E&S Risks in Pillar 1 Framework

By Editors | 16/10/2023

The EBA proposes to include environmental and social risks in the frameworks for credit, market and operational risks.

Market Infrastructure

ESMA Proposes Fee Changes for Tier 1 Third Country CCPs

By Editors | 15/10/2023

Tier 1 third-country CCPs would be allocated annual fees via a weighting factor which depends on global turnover.

Crypto / Digital Assets

ESMA Publishes Two Papers on DeFi Risks and Categorisation

By Mark Johnston | 13/10/2023

One paper analyses the main features, benefits and challenges of DeFi. The other proposes a methodology to classify smart contracts.

Securities / Derivatives

LME, SHFE to Collaborate on Product Innovation

By Editors | 13/10/2023

The exchanges will work together in product innovation to betterThe exchanges will work together to “better serve international participants in risk management and price discovery”. serve international participants in risk management and price discovery.

Enforcement

UK FCA Seeks to Fine & Ban Former CEO of Barclays

By Editors | 13/10/2023

The FCA said James Staley “recklessly approved” a letter to the FCA containing misleading statements about his relationship with Jeffrey Epstein.