Europe

Conduct, Culture & Accountability

UK FCA Proposes New Guidance to Tackle Unlawful Social Media Promotions

By Editors | 18/07/2023

The guidance discusses how the use of ‘finfluencers’ and memes on social media could potentially breach the FCA’s rules on financial promotions.

Anti-Money Laundering

EU Commission Takes Action Against Cyprus for 5AMLD Implementation Failures

By Editors | 18/07/2023

The European Commission says it has identified multiple instances of incorrect transposition of 5AMLD, despite Cyprus declaring full compliance with the directive.

Conduct, Culture & Accountability

UK Lawmakers Launch Inquiry into Sexism in Finance

By Editors | 17/07/2023

The inquiry will examine the progress made in removing gender pay gaps, and measures to combat sexual harassment and misogyny in the industry.

PEPs & Sanctions

UK Issues Sanctions Over Forced Deportation of Ukrainian Children by Russia

By Mark Johnston | 17/07/2023

The UK has imposed 14 new sanctions on Russian officials for their role in the forced deportation of Ukrainian children to Russia-based re-education camps.

Cryptocurrency

ESMA, EBA Issues First Consultation Packages Relating to MiCA

By Mark Johnston | 17/07/2023

ESMA’s consultation covers conflicts of interest and consumer complaints. EBA’s consultation covers authorisation of stablecoin issuers.

AI Risk & Governance

UK FCA Outlines Plans for Regulating AI and Big Tech

By Manesh Samtani | 16/07/2023

The FCA will address competition issues raised by Big Tech firms and potentially expand the SMCR to apply to “the most senior individuals managing AI systems”.

Payments & Settlements

France Agrees to Accept UPI Payments from Indian Travellers

By Editors | 15/07/2023

Indian tourists will be able to use the UPI system to make payments in Indian rupees while visiting France.

PEPs & Sanctions

Euroclear Faces $2b Lawsuit from Russian Fund Manager

By Editors | 14/07/2023

Russian asset manager First AM says its lawsuit is intended to protect the rights and interests of clients whose assets were frozen.

Fraud, Scams & Cybercrime

UK Supreme Court Rules for Barclays in APP Fraud Case

By Manesh Samtani | 14/07/2023

Customer argued Barclays owed her a duty to not comply with her instructions if the bank suspected she was being defrauded.