Europe

AML / KYC

UK Linked ‘Golden Visas’ to Crime Years Ago

By Editors | 18/01/2023

A review commissioned in 2018 and “kept secret for years” found a disproportionate number of golden visa applicants were from countries identified as high risk.

Crypto / Digital Assets

EU: MiCA Vote Delayed Again Until April 2023 – Report

By Editors | 18/01/2023

The delay is reported to be due to technical issues associated with translating the English text into the EU’s 24 official languages.

Market Infrastructure

ESMA Adds TAIFEX to List of Recognised Third Country CCPs

By Editors | 18/01/2023

The recognition allows European financial institutions to apply the minimum risk weight of 2 percent for exposures to TAIFEX derivatives.

EU Regulators to Scrutinise Financial Product Marketing

By Editors | 17/01/2023

A review will be undertaken this year to assess whether marketing and advertising comply with MiFID II disclosure rules.

Crypto / Digital Assets

UK to Launch Digital Currency Consultations in Coming Weeks

By Mark Johnston | 15/01/2023

One consultation will cover the attributes of a digital pound. The other will cover the UK’s approach to regulating crypto and DeFi.

Securities / Derivatives

FIA Publishes Netting and Collateral Opinions for China

By Editors | 13/01/2023

China’s adoption of its new Futures and Derivatives Law in August 2022 made it possible for FIA to commission the opinions.

AML / KYC

UK FCA Penalises Qatar’s Al Rayan Bank for AML Failures 

By Editors | 13/01/2023

The bank had no policy for handling large deposits and did not conduct an internal audit of its financial crime unit over an 8-year period, among other weaknesses.

Securities / Derivatives

LME Blocked from Resuming Nickel Trade During Asia Hours

By Editors | 12/01/2023

The FCA thinks the LME does not have adequate supervisory controls for Asia market hours. The Oliver Wyman review has also been released.

AML / KYC

ESMA Recommends Use of DTI Codes for DLT Pilot Regime

By Manesh Samtani | 12/01/2023

The DTI Foundation, a division of Etrading Software, has so far issued ISO-standard DTI codes for over a thousand of the most commonly traded digital assets.