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Europe
Anti-Money Laundering
UK FCA Fines Commodities Broker for AML Failings
By Mark Johnston | 05/10/2023
ADM Investor Services International did not conduct a firm-wide money laundering risk assessment, and its policies and procedures referred to old legislation.
Structural Regulation
China, Germany to Strengthen Cooperation on Market Access
By Editors | 03/10/2023
Consensus was reached on 25 different topics, including on strengthening regulatory cooperation in the banking and insurance sectors.
Anti-Bribery & Corruption
UBS Settles Credit Suisse Liability in Mozambique Bribery Case
By Editors | 03/10/2023
The settlement terms have not been made public, but reports say UBS will forgive part of a loan Credit Suisse made to Mozambique in 2013.
Emerging Prudential Risks
BOE Plans to Create Permanent Lending Facility for Non-bank FIs
By Editors | 02/10/2023
BOE executive director Andrew Hauser said there was an urgent need to fill gaps in the central bank’s liquidity toolkit.
AI Risk & Governance
ECB Outlines How It Uses AI Tech for Central Banking
By Editors | 01/10/2023
The ECB is using AI to automate data collection and analyse text documents, and exploring the use of large language models for multiple use cases.
PEPs & Sanctions
UK Imposes New Sanctions Over “Sham Elections” in Ukraine
By Mark Johnston | 01/10/2023
The sanctions are a response to Russia’s attempts one year ago to use “falsified and illegitimate sham referendums” to annex sovereign Ukrainian land.
PEPs & Sanctions
UK OFSI Updates Russia Sanctions Guidance
By Editors | 29/09/2023
The updated guidance addresses uncertainties regarding funds received from sanctioned banks when neither the sender nor recipient are designated persons.
Clearing & Post-Trade
ESMA Withdraws JSE Clear’s Recognition Decision
By Editors | 29/09/2023
JSE Clear will no longer be permitted to provide clearing services to clearing members or trading venues in the EU.
CBDCs
BIS Innovation Hub Concludes Project Mariana Trials
By Editors | 29/09/2023
The project explored the use of DeFi automated market makers for the cross-border exchange of CBDC in different currencies.
Reporting & Disclosures
ESG Dominates FIs’ Regulatory Landscape – KPMG UK
By ESG Investor | 28/09/2023
A noteworthy finding in the report is the growing divergence in regulatory approaches between the UK and EU.
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