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Financial Crime
Clearing & Post-Trade
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.
Anti-Money Laundering
FATF Adds Bulgaria to Grey List, Removes Four Others
By Manesh Samtani | 30/10/2023
The FATF also agreed to revise its asset recovery and NPO-related recommendations, besides publishing three new reports.
Anti-Money Laundering
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.
KYC & CDD
Taiwan FSC Issues New Digital Identity Verification Guidelines
By Editors | 27/10/2023
The guidelines will make it easier for financial institutions to implement new identity verification mechanisms and scenarios.
Anti-Money Laundering
BAFT Updates Guidelines on Correspondent Banking Relationships
By Editors | 27/10/2023
The guidelines include new sections on ISO 20022 migration and special considerations for money services businesses and fintechs.
Cryptocurrency
UK FCA Identifies Three Common Issues with Crypto Marketing
By Sanday Chongo Kabange | 26/10/2023
The FCA expects firms authorised to approve financial promotions of cryptoasset firms to take their regulatory obligations seriously.
Anti-Money Laundering
Penalties for Non-Enrolment with AUSTRAC to Start on 9 Nov
By Editors | 26/10/2023
Businesses that provide designated services without enrolling with AUSTRAC will accrue daily penalties starting from 9 November.
Anti-Money Laundering
AFP Arrests Seven Over $228m Money Laundering Scheme
By Editors | 26/10/2023
The seven are being charged under the “most complex AFP-led money-laundering investigation in the nation’s history”.
Market Abuse
India Proposes Incentives for Reporting of Cartel Conduct
By Ajoy K Das | 26/10/2023
The amendments aim to incentivise cartels under investigation to provide information on other cartels.
Structural Regulation
US, China Hold First Meetings of New Working Groups
By Mark Johnston | 25/10/2023
The US “frankly raised” areas of concern at the first economic and financial working group meetings with Chinese officials.
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