Europe

AML / KYC

UK to Designate Wagner Group as Terrorist Organisation

By Sanday Chongo Kabange | 07/09/2023

The draft order to proscribe Wagner Group is expected to pass in Parliament and come into force on 13 September.

Sanctions

FCA Unveils Findings from Sanctions System Testing in Financial Sector

By Manesh Samtani | 07/09/2023

The FCA used a “new analytics-based tool” developed in-house that tests how effective firms are at identifying sanctioned individuals and entities.

AML / KYC

UK FCA Launches Review of Treatment of PEPs

By Editors | 07/09/2023

The FCA said it will take “prompt action” if any significant deficiencies are identified in the arrangements of any firm assessed in the review.

Market Infrastructure

RBI, ESMA Close to Resolving Stand-Off Over CCPs – Report

By Manesh Samtani | 07/09/2023

Discussions regarding MoUs between the RBI and ESMA are reported to be progressing more smoothly and regularly.

Crypto / Digital Assets

UK Completes Discovery Phase of ‘Regulated Liability Network’

By Editors | 06/09/2023

In the next phase, a PoC will continue testing the Regulated Liability Network for consumer domestic payments involving retail CBDC.

Fintech / Regtech

UK House of Commons Report Calls for Dedicated Bill on AI Governance

By Manesh Samtani | 06/09/2023

Key committee outlines 12 challenges related to AI governance, calls for the introduction of a “tightly-focused” AI Bill in the next King’s Speech.

Crypto / Digital Assets

LSEG to Push Forward Plans to Develop Digital Markets Business

By Editors | 05/09/2023

LSEG has been exploring a possible blockchain-powered trading venue for about a year and has now reached an “inflection point”.

Germany’s BaFin Suffering DDoS Attack Since Friday

By Editors | 04/09/2023

BaFin apologised for the inconvenience and said it is working “intensively” to restore full access to its website.

Fintech / Regtech

Fragility of Deep Learning Models May Present Systemic Risk: BOE

By Manesh Samtani | 04/09/2023

New paper says the “underlying fragility” of deep learning frameworks used by FIs increases risks for individual firms and the financial system.