Europe

UK FCA Won’t Ban Bankers from Using WhatsApp

By Nithya Subramanian | 30/01/2025

FCA Chief Executive Nikhil Rathi said the regulator will work with firms on a case-by-case basis rather than implement a blanket ban

Sanctions

EU Imposes Cyber Sanctions Against Three Russian Actors

By Editors | 29/01/2025

The individuals listed were responsible for the theft of thousands of confidential documents from Estonia in 2020

Sanctions

UK, Canada Impose Sanctions on Belarus Over “Sham” Election

By Editors | 28/01/2025

The UK and Canada sanctioned those responsible for “human rights violations” and companies that support Russia’s war in Ukraine.

AML / KYC

UK FCA Calls on Brokers to Enhance AML Systems and Controls

By Mark Johnston | 27/01/2025

The FCA offers recommendations to improve risk assessments, KYC/CDD, governance, and transaction monitoring, among other areas.

Market Infrastructure

Switzerland to Transition to T+1 Settlement Cycle in October 2027

By Mark Johnston | 26/01/2025

Switzerland has confirmed plans to transition to a shorter settlement cycle in October 2027, aligning with the EU and UK’s ambitions.

Sanctions

Russian Court Orders Raiffeisen to Pay €2b in Damages

By Editors | 26/01/2025

Russian lawmakers also working on legislation that will enable outright confiscation of assets belonging to any individual or company from an “unfriendly” country

AML / KYC

UK FCA Calls on Firms to Improve Use of National Fraud Database

By Mark Johnston | 25/01/2025

FCA review found that some firms underutilise the NFD and don’t always report cases that meet the standard of proof required.

Fintech / Regtech

UK FCA Outlines Next Steps to Expand Open Banking

By Thisanka Siripala | 24/01/2025

An independent central operator will be established to coordinate how variable recurring payments are made, potentially lowering processing fees

Securities / Derivatives

FSS Korea Designates LuxSE as ‘Major Overseas Market’

By Mark Johnston | 24/01/2025

Korean companies meeting certain conditions don’t have to submit a domestic securities registration statement to issue foreign currency bonds on LuxSE