Europe

ESG Data

ESG Ratings Providers Fall Short on Transparency – ESMA

By ESG Investor | 27/06/2022

There are 59 ESG ratings providers active in the EU, ESMA said in a letter to the European Commission.

Structural Regulation

LME to Introduce New Reporting Requirements on 18 July

By Editors | 20/06/2022

A lack of transparency in OTC positions was a key reason the LME struggled to manage the turbulent nickel trading earlier this year.

Anti-Money Laundering

UK Crypto Firms Required to Comply with Travel Rule by Sep 2023

By Manesh Samtani | 20/06/2022

The UK scrapped a proposal to require both fiat currency and cryptoasset transfers to be considered when calculating the de minimis threshold, which has been set at EUR 1,000.

Cryptocurrency

BIS Innovation Hub Announces New Set of Projects

By Editors | 20/06/2022

The first three Eurosystem Centre projects will focus on crypto markets, quantum-resistant cryptography for payments, and climate-related disclosures.

Cybersecurity

MAS Carries Out Cyber Resilience Exercise with French Regulators

By Editors | 19/06/2022

The joint exercise “fully confirmed” the ability of the MAS, BdF and ACPR to exchange and share information efficiently in times of crisis.

Anti-Money Laundering

EBA Finalises Guidance for AML/CFT Compliance Officers

By Editors | 19/06/2022

The guidelines comprehensively address, for the first time at the EU level, the whole AML/CFT governance set-up at financial institutions.

Resolution & Recovery

BOE Asks Major Banks to Improve Resolution Plans

By Editors | 17/06/2022

The BOE said it found shortcomings in resolution plans prepared by HSBC, Lloyds Banking Group and Standard Chartered.

PEPs & Sanctions

UK OFSI Gets Stronger Powers to Punish Sanctions Breaches

By Editors | 16/06/2022

OFSI will no longer have to prove a person had knowledge or reasonable cause to suspect they were in breach of sanctions to impose a civil penalty.

Anti-Money Laundering

US, UK to Jointly Promote Privacy-Enhancing Tech for AML

By Editors | 15/06/2022

The joint initiative will seek to accelerate the development of privacy-preserving federated learning solutions that can help to combat financial crime.