Europe

AML / KYC

UK Requires Crypto Firms to Report Sanctions Breaches

By Editors | 26/07/2022

New regulations will require crypto exchanges and wallet providers to comply with OFSI’s reporting obligations from 30 August 2022.

Big Picture

ECB Calls Out Crypto Assets for ‘Outsized Carbon Footprint’

By Editors | 24/07/2022

The ECB calls on investors and financial institutions to evaluate whether crypto undermines their ESG objectives and climate strategy.

Enforcement

UK FRC Scrutinises Audit Firms’ Exam Cheating Controls

By Editors | 24/07/2022

The UK Financial Reporting Council asked 7 audit firms to detail the controls that are in place to prevent and detect cheating in professional exams.

Crypto / Digital Assets

UK Gov Publishes Financial Services and Markets Bill

By Editors | 22/07/2022

The bill establishes HM Treasury’s authority to make regulations for digital assets including stablecoins.

Securities / Derivatives

LME Delays New Reporting Requirements to 5 September

By Editors | 19/07/2022

Market participants expressed concerns regarding their ability to ensure data is properly and accurately reported by the implementation date, earlier set for 18 July.

Crypto / Digital Assets

UK Commences Inquiry Into Crypto Asset Risks and Opportunities

By Editors | 17/07/2022

A UK parliamentary committee is collecting evidence on the opportunities and risks that crypto-assets may bring to consumers, businesses and the government.

Market Infrastructure

How the UK Intends to Reform Data Protection Law

By Nick Westbrook | 14/07/2022

Nick Westbrook outlines the most significant areas of reform to the UK GDPR since it came into force in May 2018.

AML / KYC

UK Issues Guidance on Preventing Sanctions Evasion

By Editors | 14/07/2022

London-based enablers are “almost certain” to be in senior positions within their company or business, says a red alert from the NCA and OFSI.

Crypto / Digital Assets

BOE Calls for Clear Regulatory Framework for Crypto Assets

By Mark Johnston | 14/07/2022

BOE’s Jon Cunliffe said the extension of a regulatory framework to encompass crypto must be grounded in the iron principle of ‘same risk, same regulatory outcome’.