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AML / KYC
US, UK, Canada, Australia Announce More Russia Sanctions
By Manesh Samtani | 03/10/2022
The sanctions are a response to Putin’s attempt to annex four regions of Ukraine, after holding referendums that have been denounced as illegal and coercive.
Market Infrastructure
1M, 6M Synthetic GBP LIBOR to Cease at End March, FCA Says
By Editors | 03/10/2022
The FCA is still considering when to cease the 3-month synthetic GBP LIBOR setting, and whether to compel IBA to produce synthetic USD LIBOR settings after mid 2023.
Capital / Liquidity
EBA Considers Assessing Climate in Regular Bank Stress Tests
By Editors | 02/10/2022
The EBA has kicked off high level discussions on how to incorporate climate risks in regular stress tests that take place every two years.
Market Infrastructure
ESMA Calls for Greater Use of €STR in Derivatives
By Editors | 02/10/2022
Further develop of €STR products will provide the inputs needed to enable the calculation and provision of €STR term rates, ESMA says.
AML / KYC
UK FCA Grants Revolut Approval to Offer Crypto Services
By Editors | 01/10/2022
Revolut was allowed to remain on a temporary register after a March deadline for approvals until its application was fully processed.
AML / KYC
Turkish Banks to Stop Using Russia’s Mir Payment System
By Editors | 30/09/2022
Three Turkish state banks will stop using the Mir system in response to guidance issued by OFAC earlier this month. Two others stopped last week.
Crypto / Digital Assets
BIS Innovation Hub Nordic Centre Launches Retail CBDC Project
By Editors | 30/09/2022
The central banks of Israel, Norway and Sweden will develop a “hub” to which they will connect their domestic proof-of-concept CBDC systems.
AML / KYC
G7 Nations Imposing New Russia Sanctions Over “Sham” Referendums
By Manesh Samtani | 30/09/2022
The EU package includes an oil price cap and a complete ban on providing crypto services to Russians. UK targets include Gazprombank, Sberbank and Sovcombank board members.
ESG / Sustainability
ESMA Publishes Final Guidelines on MiFID II Suitability Requirements
By Editors | 28/09/2022
Firms will need to help clients understand the concept of sustainability preferences and explain differences between products with and without sustainability features.
BOE, FCA to Consult on Removing Banker Bonus Cap
By Editors | 26/09/2022
The cap, which limits bonuses to twice basic salary, was introduced in the EU in 2014 to curb excessive risk-taking.
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