Europe

Crypto / Digital Assets

FTX EU Begins Allowing Customers to Withdraw Funds

By Editors | 05/04/2023

FTX EU set up a website through which balances can be verified and requests for withdrawals in fiat currency can be made.

Enforcement

Germany Bans EY for Two Years Over Wirecard Audits

By Editors | 04/04/2023

Germany’s auditor regulator also fined the company €500,000, and five of its current and former auditors between €23,000 and €300,000.

Market Infrastructure

UK FCA Announces Decision on Synthetic USD LIBOR Rates

By Editors | 04/04/2023

1-, 3- and 6-month synthetic USD LIBOR rates will continue to be published for 15 months after the USD LIBOR bank panel ceases on 30 June.

UK Launches Review of Senior Managers Accountability Regime

By Editors | 03/04/2023

The review seeks stakeholders’ views to identify ways to improve operational and legal aspects of the Senior Managers and Certification Regime.

Capital / Liquidity

Swiss Prosecutor Opens Criminal Probe Into Credit Suisse Takeover

By Editors | 03/04/2023

The prosecutor is looking into potential breaches of Switzerland’s criminal law by government officials, regulators and bank executives.

AML / KYC

Germany to Establish New Agency to Fight Financial Crime

By Sanday Chongo Kabange | 02/04/2023

The ‘Federal Authority for Fighting Financial Crime” will absorb the functions of the FIU and also be responsible for enforcing international sanctions.

AML / KYC

UK Court Allows Wirecard-related Fraud Suit to Proceed

By Editors | 31/03/2023

An Indian business was sold to a Mauritius-based fund in 2015, weeks before Wirecard bought the company for a price ten times higher.

AML / KYC

UK Unveils New Plan to Tackle Economic Crime

By Sanday Chongo Kabange | 31/03/2023

The plan involves hiring 475 specialist investigators, investing in technology and data analytics, and establishing a new multi-agency crypto cell.

ESG / Sustainability

UK Consults on Regulatory Regime for ESG Ratings

By Editors | 31/03/2023

The consultation proposes to introduce legislation to amend and expand the FCA’s regulatory perimeter to include ESG ratings.