Europe

Tokenisation

UPDATED – BaFin Says Binance Stock Tokens Violate Securities Laws

By Sanday Chongo Kabange | 05/05/2021

The tokens require the publishing of a prospectus, “minimum information required by law” for the sale of an investment product.

Anti-Money Laundering

BaFin Orders Deutsche Bank to Further Enhance AML Controls

By Sanday Chongo Kabange | 04/05/2021

Deutsche Bank is asked to further bolster safeguards against financial crime, including in its correspondent banking relationships and transaction monitoring.

CBDCs

EIB Issues First Digital Bond on Public Blockchain

By Sanday Chongo Kabange | 04/05/2021

The digital bond issuance was carried out using a distributed ledger for registration and a CBDC for settlement.

Structural Regulation

FCA Proposes Rule Changes to Encourage SPAC Listings

By Sanday Chongo Kabange | 03/05/2021

The FCA proposes to exempt SPACs that identify an acquisition target from being suspended, if they have certain investor protections in place.

Trading & Investment

Cboe to Launch New European Venue for Equity Derivatives

By Editors | 02/05/2021

Clients will benefit from having more choice, and lower friction pricing models will promote greater liquidity, says Morgan Stanley’s David Russell.

PEPs & Sanctions

UK Establishes New Global Anti-Corruption Sanctions Regime

By Manesh Samtani | 28/04/2021

The UK has made its first 22 designations under the new regime, including individuals in Russia, South Africa, Honduras, Nicaragua, Guatemala and South Sudan.

Anti-Money Laundering

Mitigating Illicit Convergence in Transnational Financial Crime

By Editors | 27/04/2021

Rani Hong, Sasha Lezhnev, Ben Spevack and Che Sidanius discuss efforts under way to prevent the illicit exploitation of legal infrastructures for crime.

Custody & Infrastructure

UK Taskforce Publishes Digital Dispute Resolution Rules

By Sanday Chongo Kabange | 25/04/2021

The rules allow parties to digital transactions to quickly resolve disputes through arbitration, where decisions are implemented within smart contracts.

Model Risk

ECB Identifies Internal Model Deficiencies at Big Banks

By Manesh Samtani | 25/04/2021

The changes to correct the deficiencies will result in an overall absolute increase in risk-weighted assets of about EUR 275 billion.