Europe

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    Capital / Liquidity

    UBS-Credit Suisse Merger Continues to See Opposition

    By Editors | 13/04/2023

    Swiss lawmakers symbolically voted against a liquidity package to support the merger, which is expected to formally close within a few months.

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    Sanctions

    US, UK Announce Coordinated Sanctions Targeting Russia Facilitators

    By Editors | 13/04/2023

    US sanctions include International Investment Bank, a Russia-controlled financial institution in Hungary, and three of its current and former executives.

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    AML / KYC

    UK Tables Amendment to Introduce ‘Failure to Prevent Fraud’ Offence

    By Editors | 13/04/2023

    Prosecutors will be able to hold large companies to account if they do not have reasonable measures in place to prevent fraud by an employee.

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    AML / KYC

    EU-Funded Report Explores Crypto Use in Darknet Markets

    By Mark Johnston | 12/04/2023

    Law enforcement needs training, resources, technology and cooperation to effectively investigate darknet markets, which grew 469-fold between 2011 and 2020.

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    Fintech / Regtech

    Italy ChatGPT Ban Prompts Broader Scrutiny of AI Tools

    By Manesh Samtani | 12/04/2023

    Taiwan is exploring the use of AI tools by banks. China has issued draft rules for AI development. The US is exploring accountability mechanisms for AI systems.

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    ESG / Sustainability

    UK’s New Rules to Raise Standards for ESG Benchmarks

    By ESG Investor | 11/04/2023

    Regulation vital to ensure “transparency and rigour” of ESG benchmarks that play a key role in investors’ transition to net zero.

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    Crypto / Digital Assets

    SEB, Crédit Agricole Launch Digital Bond Issuance Platform

    By Editors | 11/04/2023

    The platform uses a blockchain validation protocol called “Proof of Climate awaReness”, which incentivises participating nodes to improve their environmental impact.

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    AML / KYC

    UK FCA Outlines Next One Year of Work to Improve Markets

    By Editors | 11/04/2023

    The FCA will propose reforms to the listing regime, consult on the introduction of consolidated tapes, and strengthen its authorisation and assessment processes.

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    Crypto / Digital Assets

    ECB Official Says MiCA Still Needs Further Strengthening

    By Manesh Samtani | 10/04/2023

    Pre-collapsed FTX and today’s Binance would not meet the threshold for classification as ‘significant’ CASPs. Even if they did, stricter requirements wouldn’t apply.

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    ESG / Sustainability

    EU Consults on Taxonomy Environmental Objectives

    By ESG Investor | 09/04/2023

    The European Commission is consulting on additional criteria in EU taxonomy delegated acts.

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