Europe

Fintech / Regtech

Italy ChatGPT Ban Prompts Broader Scrutiny of AI Tools

By Manesh Samtani | 12/04/2023

Taiwan is exploring the use of AI tools by banks. China has issued draft rules for AI development. The US is exploring accountability mechanisms for AI systems.

ESG / Sustainability

UK’s New Rules to Raise Standards for ESG Benchmarks

By ESG Investor | 11/04/2023

Regulation vital to ensure “transparency and rigour” of ESG benchmarks that play a key role in investors’ transition to net zero.

Crypto / Digital Assets

SEB, Crédit Agricole Launch Digital Bond Issuance Platform

By Editors | 11/04/2023

The platform uses a blockchain validation protocol called “Proof of Climate awaReness”, which incentivises participating nodes to improve their environmental impact.

AML / KYC

UK FCA Outlines Next One Year of Work to Improve Markets

By Editors | 11/04/2023

The FCA will propose reforms to the listing regime, consult on the introduction of consolidated tapes, and strengthen its authorisation and assessment processes.

Crypto / Digital Assets

ECB Official Says MiCA Still Needs Further Strengthening

By Manesh Samtani | 10/04/2023

Pre-collapsed FTX and today’s Binance would not meet the threshold for classification as ‘significant’ CASPs. Even if they did, stricter requirements wouldn’t apply.

ESG / Sustainability

EU Consults on Taxonomy Environmental Objectives

By ESG Investor | 09/04/2023

The European Commission is consulting on additional criteria in EU taxonomy delegated acts.

Crypto / Digital Assets

‘Genesis’ Darknet Market Sanctioned and Shuttered by Authorities

By Editors | 06/04/2023

Law enforcement arrested 119 people and conducted 208 property searches in connection with Genesis Market, a criminal marketplace believed to be located in Russia.

Market Infrastructure

Industry Bodies Say EU BMR Presents ‘Cliff-edge Risks’

By Editors | 05/04/2023

Industry bodies say only benchmarks designated as systemically important should be in scope of BMR for mandatory compliance.

Enforcement

UK Steel Traders Jailed for $500m Trade Finance Fraud

By Mark Johnston | 05/04/2023

Three senior executives of Balli Steel were sentenced to prison for using fake documents and contracts to obtain loans.