Europe

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    Big Picture

    Tokenisation Can Threaten Financial System Stability: Denis Beau

    By Mark Johnston | 25/01/2023

    Banque de France official says tokenisation increases operational risks, especially cyber risks, and needs to be regulated “as swiftly as possible”.

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    AML / KYC

    France Maintains Public Access to Beneficial Owners Register

    By Editors | 25/01/2023

    The French government plans to define the future methods of access “soon”, taking into account the November decision by the CJEU.

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    JFSA, ECB Agree to Cooperate on Banking Supervision

    By Editors | 25/01/2023

    The Memorandum of Cooperation covers procedures for information sharing and on-site visits, and the permissible uses and confidentiality of information shared.

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    Crypto / Digital Assets

    Action Against Crypto Firm Bitzlato Yields Seizures, More Arrests

    By Editors | 25/01/2023

    Authorities seized EUR 18 million in crypto wallets and froze EUR 50 million in accounts at other crypto exchanges, Europol says.

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    Crypto / Digital Assets

    BISIH London Invites Firms to Test Retail CBDC API Platform

    By Editors | 25/01/2023

    Project Rosalind’s phase one work will be complete within Q1 and be followed by a further phase focused on testing and validating API functionality.

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    Capital / Liquidity

    EU Lawmakers Back Draft Law to Implement Basel III

    By Editors | 25/01/2023

    The draft law contains an interim treatment for banks to apply a 1250% risk weight to their cryptoasset exposures until 31 December 2024.

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    Capital / Liquidity

    EU Faces Industry Opposition on Proposed Commission Ban

    By Mark Johnston | 24/01/2023

    Financial industry associations say a ban on commissions paid to financial advisers for selling financial products would harm consumers.

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    AML / KYC

    US SEC Fines Crypto Firm Nexo for Unregistered Securities Offering

    By Manesh Samtani | 20/01/2023

    Nexo settled charges from US regulators for $45mn. The company was separately raided by Bulgarian authorities last week.

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    AML / KYC

    German Prosecutors Search Norton Rose Offices in Cum-Ex Probe

    By Editors | 20/01/2023

    A former staff member of Norton Rose Fulbright is said to be a suspect in the tax fraud probe, which dates back more than a decade.

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    ESG / Sustainability

    EU Commission Launches Net Zero Industry Act

    By ESG Investor | 19/01/2023

    The act aims to increase funding for clean energy technologies across EU member states, including through a new European Sovereignty Fund.

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