Europe

Market Infrastructure

RBI, BOE Agree to Cooperate on CCIL Information Exchange

By Manesh Samtani | 03/12/2023

The BOE recognises the “primacy” of the RBI in supervising India-based CCPs and agrees to rely on home country regulation and supervision.

Crypto / Digital Assets

Third Phase of CBDC Project “Helvetia” Gets Underway

By Manesh Samtani | 01/12/2023

The pilot programme allows participating banks to settle digital bonds and repo transactions against wholesale CBDC on a DvP basis.

AML / KYC

UK Secures Pledges from Global Tech Firms to Tackle Online Fraud

By Sanday Chongo Kabange | 01/12/2023

Signatories pledge to block and remove fraudulent material from their platforms and services and to work closely with law enforcement.

Securities / Derivatives

UK Court Rules That LME Nickel Trade Cancellations Were Lawful

By Editors | 30/11/2023

The court ruling supports the LME’s argument that its actions in March 2022 were necessary to prevent a potential market collapse.

AML / KYC

13 FIUs Establish Task Force to Disrupt Terrorist Financing

By Editors | 28/11/2023

The FIUs including FinCEN, UKFIU, AUSTRAC, and NZFIU established the task force last month but is publicly recognising its formation now.

Sanctions

EU Expands Sanctions “Carve-Out” for Humanitarian Aid

By Editors | 28/11/2023

Latest Council decision will permit humanitarian transactions with EU-sanctions targets under 10 sanctions programs.

Crypto / Digital Assets

EBA Consults on Travel Rule Guidelines for Funds and Crypto Transfers

By Mark Johnston | 27/11/2023

The EBA plans new guidelines to prevent the misuse of funds and crypto-assets transfers for illicit purposes, aligning with FATF standards.

Crypto / Digital Assets

UK Funds Can Start Tokenising Funds, FCA Confirms

By Mark Johnston | 25/11/2023

In this initial stage, FCA authorised funds can implement tokenisation using a “baseline approach”, provided they meet certain characteristics.

Fintech / Regtech

UK FCA Seeks Input on Big Tech’s Data Advantage in Finance

By Mark Johnston | 25/11/2023

The FCA invites responses from national and international competition authorities and regulators, as well as Big Tech firms, financial services firms, consumer groups, and academics.