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Europe
Cryptocurrency
EBA, ESMA Consult on Suitability, Remuneration Under MiCA
By Editors | 23/10/2023
Joint guidelines cover suitability of management, owners and board members of crypto firms and stablecoin issuers. Separate EBA consultation covers remuneration policies.
Reporting & Disclosures
UK Seeks Feedback on Scope 3 Disclosures
By ESG Investor | 23/10/2023
The call for evidence on Scope 3 GHG emissions reporting will inform the UK’s planned endorsement of ISSB standards.
Anti-Money Laundering
UK FCA Urges Firms to Strengthen Anti-Money Mule Controls
By Mark Johnston | 23/10/2023
The FCA published findings from a review of the systems and controls payment account providers have in place to detect and prevent money mule activity.
Anti-Money Laundering
Germany’s BaFin Fines Deutsche Bank for STR Filing Delays
By Editors | 23/10/2023
BaFin said Deutsche Bank submitted suspicious transaction reports to the FIU “with a delay”.
Reporting & Disclosures
ESMA Warns on “Misleading” Use of ESG-related Terms by Funds
By ESG Investor | 23/10/2023
Research by ESMA shows that ESG-related named funds attract more inflows, raising concerns about potential greenwashing.
Credit Risk
ECB Publishes Guidance on Counterparty Credit Risk Management
By Mark Johnston | 21/10/2023
Banks dealing with hedge funds and family offices should set up daily monitoring and additional risk control processes to manage those CCR exposures.
Cryptocurrency
Eurex Set to Add Options to Crypto Derivatives Suite
By Mark Johnston | 21/10/2023
The new options contracts will allow investors to deploy new trading strategies with institutional grade trading and clearing safeguards, Eurex said.
CBDCs
ECB Launches Two-Year Preparation Phase for Digital Euro
By Mark Johnston | 20/10/2023
The ECB said its Governing Council will decide after the two year preparation phase whether to proceed to the next stage.
Cryptocurrency
ESMA Calls on NCAs, Crypto Firms to Start Preparing for MiCA
By Manesh Samtani | 20/10/2023
ESMA is concerned that MiCA’s optional grand-fathering period might allow some crypto firms to continue operating without a full licence all the way until July 2026.
PEPs & Sanctions
US & Allies Reimpose Iran Sanctions Following UNSCR Expiry
By Manesh Samtani | 19/10/2023
A 2015 UN Security Council resolution targeting Iran’s ballistic missile, nuclear, and drone programmes has expired.
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