Europe

AML / KYC

26 Countries Commit to Transparent Beneficial Ownership

By Manesh Samtani | 29/03/2023

The US-led initiative commits participating countries to implementing the FATF’s revised Recommendation 24 to combat corruption.

AML / KYC

EU Lawmakers Agree New AML/CFT Rules

By Editors | 29/03/2023

Members of the European Parliament approved draft AML/CFT legislation, including plans for the new Anti-Money Laundering Authority.

UK Launches Review of Whistleblowing Framework

By Editors | 28/03/2023

The review will assess whether the whistleblowing framework is operating effectively, meeting its original objectives, and adequately protecting whistleblowers.

ESG / Sustainability

ESMA Told to Watch and Wait on ‘Greenbleaching’

By ESG Investor | 28/03/2023

Advisory group outlines its recommendations on addressing SFDR Article 9 downgrades and greenwashing regulatory uncertainty.

Big Picture

Too Big to Fail Reforms Don’t Work, says Swiss Official

By Manesh Samtani | 28/03/2023

Credit Suisse’s “too big to fail” emergency plan would have triggered an “international financial crisis”, according to Swiss finance minister Karin Keller-Sutter.

Capital / Liquidity

EU to Cooperate with Australia & NZ on Bank Resolution Planning

By Editors | 28/03/2023

The cooperation arrangements focus on bank resolution planning and its implementation for banks with cross-border operations.

Enforcement

ESMA Fines S&P Global Ratings for Breaching CRA Rules

By Mark Johnston | 24/03/2023

S&P prematurely published credit ratings before securities were issued, failed to disclose decisions for discontinuing some credit ratings, and took too long to correct factual errors in reported data.

Capital / Liquidity

Industry Welcomes Regulator Commitments to Prioritise Bondholders

By Manesh Samtani | 24/03/2023

Regulators respond to Swiss decision to wipe out Credit Suisse bondholders by pledging to respect the bank rescue hierarchy in a crisis.

Fintech / Regtech

ESMA Goes Live With New DLT Pilot Regime

By Editors | 23/03/2023

Firms can apply for permission to operate DLT-based market infrastructures and receive exemptions from the MiFIR, MiFID II and CSDR.