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Europe
Enforcement
EU Reaches Provisional Agreement on Environmental Crime Directive
By Mark Johnston | 17/11/2023
The revised directive replaces the 2008 version, which was found to have a limited effect with sanction levels that were too low.
ESG / Sustainability
UK FCA Finds Fault with Retail ESG Funds
By ESG Investor | 17/11/2023
The FCA reviewed the fund disclosures and approaches of 12 fund managers which offered active or passive retail funds with ESG or sustainability-related names.
Fintech / Regtech
UBS, SBI, DBS Use Digital Bond in Cross-border Repo Trade
By Manesh Samtani | 15/11/2023
The transaction involved a repo to borrow tokenised JPY against a natively-issued JPY digital bond. The tokenised JPY was used to finance the repurchase of the same bond.
Capital / Liquidity
EBA Issues Third Batch of MiCA-related Consultations
By Editors | 09/11/2023
The consultations cover transaction reporting, recovery planning, own funds, stress testing, and liquidity requirements for stablecoin issuers.
Capital / Liquidity
EU Lawmakers Back Plans to Improve Bank Resolution Framework
By Editors | 09/11/2023
Jonás Fernández said the rule changes will level the playing field among different banking structures in the EU, while ensuring that banks will remain safe.
Sanctions
UK Targets Russian Gold and Oil as EU Preps New Sanctions Package
By Editors | 08/11/2023
UK government announced asset freezes on 29 individuals and entities in Russia’s gold, oil, and strategic sectors.
AML / KYC
UK FCA Urges Firms to Do More to Combat APP Fraud
By Manesh Samtani | 08/11/2023
Firms are not adequately focused on delivering good outcomes to consumers, supporting victims of fraud, and handling complaints in a timely manner.
Crypto / Digital Assets
UK Regulators Set Out Roadmap for Regulating Stablecoins
By Manesh Samtani | 07/11/2023
The FCA and BOE published discussion papers outlining the UK’s proposed regulatory approach for regulating fiat-backed stablecoins.
Crypto / Digital Assets
FCA Finalises Guidance on Cryptoasset Financial Promotions
By Editors | 05/11/2023
Crypto promotions should apply the Consumer Duty; finfluencers should disclose commercial relationships; regulated status should not be used in a promotional way.
Sanctions
US, UK, Canada Announce New Myanmar Sanctions
By Editors | 01/11/2023
OFAC restricts financing to Myanma Oil and Gas Enterprise (MOGE), as UK and Canada add new names to asset freeze lists.
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