Europe

Cloud & Infrastructure

Thailand, Luxembourg Sign MoU on Fintech Innovation

By Editors | 02/08/2021

The MoU provides a framework for cooperation between the SEC and CSSF with respect to promoting innovation in financial services.

Cryptocurrency

Regulatory Pressure on Binance Builds With Malaysia Ban

By Manesh Samtani | 01/08/2021

Malaysia’s SC has announced enforcement actions. Binance is winding down its derivatives business in Europe. India is probing its involvement in a betting probe.

Structural Regulation

FMSB Finalises Standard on Use of Term SONIA

By Manesh Samtani | 31/07/2021

Use cases for Term SONIA include trade finance, working capital products, Islamic finance, export finance, and emerging markets lending.

Operational Risk

Independent Report Finds Risk Control Failures at Credit Suisse

By Sanday Chongo Kabange | 30/07/2021

The report indicates that the risks were known, but responsible parties in the first and second lines simply failed to act.

Structural Regulation

UK FCA Finalises Rule Changes for SPAC Listings

By Manesh Samtani | 28/07/2021

The FCA will remove the presumption of suspension at the point when an acquisition target is identified, for SPACs that meet certain criteria.

Anti-Money Laundering

European Commission Presents Package of AML/CFT Reforms

By Editors | 23/07/2021

A new EU-level AML authority will coordinate national authorities to ensure the private sector correctly and consistently applies EU rules.

Tokenisation

SFC Issues Warning on Unregulated Virtual Asset Platforms

By Editors | 18/07/2021

Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.

Trading & Investment

ESMA Outlines Disclosure Expectations for SPACs

By Sanday Chongo Kabange | 18/07/2021

The guidance is aimed at enhancing the comprehensibility and comparability of SPAC prospectuses and ensuring investors are adequately protected.

Anti-Money Laundering

European Commission Seeks Establishment of New AML Authority

By Ranamita Chakraborty | 15/07/2021

The new authority would be able to directly oversee the financial firms operating across multiple member states and issue penalties for AMLviolations.