Europe

    Capital / Liquidity

    ECB Climate Stress Test Finds Bank Practices Lacking

    By Editors | 11/07/2022

    60% of banks don’t have a climate risk stress testing framework. Only 20% of banks consider climate risk when granting loans.

    AML / KYC

    EU Council Agrees Position on Bloc-Wide AML Authority

    By Editors | 06/07/2022

    The AMLA will directly supervise certain types of credit and financial institutions, including crypto asset service providers, starting in 2026.

    AML / KYC

    UK Sanctions More Russians, Restricts More Belarusian Trade

    By Editors | 06/07/2022

    Last week, the UK Parliament’s Foreign Affairs Committee published a report calling on the government to “act now” to tackle the flow of illicit finance through London.

    Securities / Derivatives

    UK to Codify Tax Exemptions for Sovereign Investors into Law

    By Editors | 05/07/2022

    The proposals seek to ensure the tax exemptions provided to sovereign investors are more targeted towards investment rather than trading income.

    ESG / Sustainability

    ECB Makes “Groundbreaking” Shift on Climate

    By ESG Investor | 05/07/2022

    The ECB will introduce gradual limits on the use of bonds issued by companies with high carbon footprints.

    Market Infrastructure

    UK FCA Consults on Remaining LIBOR Transition Steps

    By Editors | 04/07/2022

    The FCA is seeking views until 24 August on winding down synthetic sterling LIBOR and US dollar LIBOR.

    Enforcement

    Tougher Enforcement, Regulation on ESG Funds a “Wake-up Call”

    By ESG Investor | 03/07/2022

    DWS whistle-blower Desiree Fixler welcomes enforcement action as necessary to deal with greenwashing.

    Crypto / Digital Assets

    EU Lawmakers Agree on AML Framework for Crypto

    By Manesh Samtani | 30/06/2022

    Crypto asset service providers will be required to implement customer protection measures and robust AML/CFT safeguards including the travel rule.

    AML / KYC

    G7 Nations Announce Ban on Russian Gold Imports

    By Manesh Samtani | 30/06/2022

    The ban has so far been announced by US, UK, Japan, and Canada, while discussions within the EU are still ongoing.

    AML / KYC

    Swiss Criminal Court Convicts Credit Suisse for Money Laundering

    By Editors | 29/06/2022

    The court said Credit Suisse ignored obvious red flags and did not do enough to prevent a crime syndicate from profiting from cocaine trafficking.

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