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BOE Proposes to Remove Cap on Bankers Bonuses
By Editors | 27/12/2022
Removing the cap will increase the proportion of compensation that can be set by tools such as deferral, payments in instruments, and risk adjustment.
Sanctions
EU Facing Legal Challenge Over Anti-Russia Sanctions
By Editors | 26/12/2022
One company and 61 individuals are seeking to challenge what they view as a violation of their rights, and the freezing of their assets by EU authorities.
Capital / Liquidity
BaFin Imposes Capital Charge on StanChart’s German Unit
By Editors | 23/12/2022
The regulator said the bank’s internal organisation did not meet legal requirements, without disclosing further details.
AML / KYC
Head of German FIU Resigns Over Secret SAR Backlog – Report
By Editors | 22/12/2022
The German FIU was sitting on more than 100,000 unprocessed SARs which it did not disclose to the FATF during its mutual evaluation.
Sanctions
UK Ban on Providing Trust Services to Russia Takes Effect
By Editors | 22/12/2022
Professional services ban expanded from accounting, consulting and PR services to include trust, advertising, auditing, engineering and IT consultancy and design services.
Crypto / Digital Assets
ESMA Issues Guidelines for Operators of DLT Market Infrastructure
By Editors | 22/12/2022
The guidelines include templates firms can use to apply for permission to operate DLT market infrastructure under the EU’s DLT Pilot Regulation.
ESG / Sustainability
EU Lawmakers Agree on Enhancements to Carbon Market
By Editors | 22/12/2022
The agreement, which still needs formal endorsement, will accelerate the pace at which energy-intensive companies are obligated to reduce emissions.
Enforcement
UK Regulators Fine TSB Bank Over IT Upgrade Failures
By Editors | 22/12/2022
An IT system upgrade in April 2018 resulted in nearly 2 million TSB Bank customers being unable to access banking services.
Market Infrastructure
ESMA Publishes Final Guidelines, Validation Rules for EMIR Refit
By Editors | 22/12/2022
ESMA published its final guidelines for reporting under EMIR, the final validation rules, and reporting instructions for outgoing and incoming messages.
ECB Bars Officials from Making Short Term Trades
By Editors | 21/12/2022
High-level ECB officials can only invest in publicly listed, broadly diversified funds with a medium to long-term perspective.
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