Europe

Data Privacy

Singapore, Switzerland to Promote Cross-border Data Connectivity

By Editors | 25/05/2022

MAS and SIF will work towards enabling data flows (including personal information) within financial groups, supported by free choice of location for data storage and processing.

Cryptocurrency

CME to Launch Crypto Reference Rates, Indices in Euro

By Editors | 24/05/2022

New non-tradable EUR-denominated reference rates and real-time indices for Bitcoin and Ether will be published starting 6 June.

Trading & Investment

LME Proposes to Enhance Reporting of OTC Metals Trades

By Editors | 21/05/2022

Banks would be required to report all off-exchange trades in aluminium, copper, nickel, tin and zinc on a weekly basis.

Market Risk

Risks Were Visible in EMIR Data Prior to Archegos Collapse: ESMA

By Manesh Samtani | 19/05/2022

ESMA found that reported trade activity data could be used to track the evolution of Archegos’ positions in individual stocks and analyse the mark-to-market value of its portfolio of swaps.

PEPs & Sanctions

US Warns Foreign Banks Against Facilitating Sanctions Evasion

By Editors | 18/05/2022

Foreign banks could fall under US sanctions if they provide material support to a person or entity sanctioned by the US.

Reporting & Disclosures

Future Uncertain for UK SDRs After Omission

By ESG Investor | 16/05/2022

Details on the SDRs were omitted from a new financial services bill outlined during the Queen’s Speech last week.

Fraud, Scams & Cybercrime

UK Unveils Legislative Agenda for Financial Services, Markets

By Manesh Samtani | 12/05/2022

The agenda includes support for safe crypto adoption, stronger powers to tackle illicit finance, and better fraud protections for consumers.

Cryptocurrency

The EU’s MiCA Races to Create a Regulatory Superhighway

By Ari Redbord | 11/05/2022

Ari Redbord outlines what crypto-asset service providers need to understand as discussions continue on an EU-wide regulatory framework for crypto.

Anti-Money Laundering

MONEYVAL Calls for Clampdown on Crypto-enabled Money Laundering

By Mark Johnston | 11/05/2022

Some smaller cryptocurrencies are being established specifically with the motive of laundering, while larger virtual assets are seeing “heavy” manipulation.