EUROPE

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    Sanctions

    EU Circulates Draft Proposal for 16th Russia Sanctions Package

    By Editors | 03/02/2025

    The proposed package targets more regional banks, shadow-fleet vessels, and non-Russia companies that facilitate sanctions circumvention.

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    Market Infrastructure

    EU Extends Equivalence for UK CCPs for Three Years

    By Mark Johnston | 03/02/2025

    The extension will ensure financial stability and provide clarity to EU market participants, the European Commission said.

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    Enforcement

    FCA Issues First Fine for Reporting Failures Under UK MiFIR

    By Thisanka Siripala | 03/02/2025

    Infinox was found to have relied on a single individual to manually identify reportable financial instruments without adequate checks or scrutiny.

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    Securities / Derivatives

    HSBC to Wind Down Investment Banking Operations in Europe, US

    By Nithya Subramanian | 02/02/2025

    The bank said in an internal memo that it will retain more focused M&A and equity capital markets capabilities in Asia and the Middle East

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    Market Infrastructure

    UK Confirms 11 October 2027 Target Date for Adoption of T+1

    By Nithya Subramanian | 02/02/2025

    Andrew Douglas, Chairman of the UK Accelerated Settlement Taskforce, said the UK, EU and Switzerland are now aiming for the same implementation date

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    AML / KYC

    UK Sentence Operators of Website that Enabled Account Takeover Fraud

    By Thisanka Siripala | 02/02/2025

    The operators provided tools including a “spoof call bot”, a ‘free text to speech’ service, and pre-scripted calls specifically designed to target customers.

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    Sanctions

    ING, Goldman Advance Efforts to Sell Russian Subsidiaries

    By Editors | 01/02/2025

    ING expects to complete the sale of its operations in Russia in Q3. The sale of Goldman’s Russia unit received presidential approval.

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    Securities / Derivatives

    UK FCA Proposes to Ease Rules on Corporate Bond Issuance

    By Thisanka Siripala | 01/02/2025

    FCA to simplify disclosure requirements for bonds with smaller denominations and introduce regulations for public offer platforms.

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    UK FCA Won’t Ban Bankers from Using WhatsApp

    By Nithya Subramanian | 30/01/2025

    FCA Chief Executive Nikhil Rathi said the regulator will work with firms on a case-by-case basis rather than implement a blanket ban

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    Sanctions

    EU Imposes Cyber Sanctions Against Three Russian Actors

    By Editors | 29/01/2025

    The individuals listed were responsible for the theft of thousands of confidential documents from Estonia in 2020

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