Europe

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.

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.