Europe

UK police unit Action Fraud said crypto-related fraud losses from October 2021 to September 2022 amounted to $270mn.

The move will make it easier for EU authorities to take action against anyone who helps Russia avoid its sanctions.

The ECB is reportedly planning to impose higher capital requirements on banks to address risk in their leveraged finance businesses.

Luxembourg, Netherlands, Belgium, Austria and Malta have closed public access to their beneficial ownership registers following an EU Court of Justice ruling.

The UK and Singapore agreed to deepen cooperation on FinTech and sustainable finance, including to explore a global framework for regulating ESG ratings and data providers.

UK organisations will be able to securely share personal data, including credit information, with South Korea before the end of the year.

The proportion of stock trading app users with at-risk gambling behaviours was more prevalent for apps with certain game-like elements.

Switzerland’s Federated Council has opted to adopt an ordinance on mandatory climate disclosures for large Swiss companies.

The amendments simplify the cash penalties process by putting CSDs in charge of collection and distribution, including for CCP-cleared transactions.

The FCA proposes that the 1-, 3- and 6-month USD LIBOR settings will be published under a synthetic methodology until end September 2024.