ADVERTISEMENT
Europe
Fintech / Regtech
UK Proposes Draft Legislation to Regulate BNPL Products
By Editors | 15/02/2023
The legislation will bring BNPL products under the FCA’s regulatory remit, and require BNPL providers to conduct affordability checks.
Crypto / Digital Assets
EU Commission Launches Regulatory Sandbox for DLT Innovators
By Editors | 15/02/2023
The sandbox establishes a pan-European framework for regulatory dialogue to increase legal certainty for innovative blockchain solutions.
AML / KYC
EU Adds Four Countries to List of Uncooperative Tax Jurisdictions
By Editors | 15/02/2023
BVI, Costa Rica, Marshall Islands and Russia were added to the list. Hong Kong and Malaysia were granted an extension to complete reforms.
Big Picture
ECB Concerned with Russia Exposures, Bad Debt Risks
By Editors | 14/02/2023
The ECB says it would welcome more exits from Russia by eurozone banks, and that higher borrowing costs could lead to a build-up of bad loans.
Market Infrastructure
Japan, EU Establish Cooperation Framework on Insurance Supervision
By Editors | 14/02/2023
The cooperation framework promotes mutual understanding, exchange of information and technical assistance between the FSA and EIOPA.
AML / KYC
FCA Investigating Barclays for KYC and AML Incidents
By Editors | 14/02/2023
The FCA reportedly directed Barclays to undergo an independent review due to concerns about a large volume of KYC and AML incidents.
ESG / Sustainability
UK FCA Moots New ESG Regulation
By ESG Investor | 14/02/2023
The FCA is seeking feedback on introducing regulatory expectations or guidance on senior management responsibilities for regulated firms’ sustainability-related strategies.
Sanctions
UK Adds Russia Sanctions, EU Prepares Next Package
By Manesh Samtani | 14/02/2023
The US will crack down on facilitators and third-country providers helping Russia evade sanctions, whether “wittingly or unwittingly”.
Market Infrastructure
CFIUS Confirms ‘Excepted Foreign State’ Status for UK, New Zealand
By Editors | 13/02/2023
UK and New Zealand investors do not have to undergo national security reviews for noncontrolling investments in the US.
Fintech / Regtech
EU Parliamentarians Back Eurozone Digital Wallet Framework
By Sanday Chongo Kabange | 12/02/2023
The EU Digital Identity Wallet, expected to go live in 2024, will make it possible to store personal credentials within a single digital ID.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.