Europe

    Securities / Derivatives

    Euroclear to Link Global Investors to Korea Treasury Bonds

    By Editors | 05/12/2022

    Euroclear Bank and Korea Securities Depository will collaborate to provide international investors post trade access to Korea treasury bonds and monetary stabilisation bonds.

    Enforcement

    UK Regulator Fines Barclays Over Non Transparent Card Fees

    By Editors | 04/12/2022

    Barclays was fined by the PSR for failing to give retailers full information about the costs of its card services for three years.

    AML / KYC

    G7 Powers Set to Implement Oil Price Cap on Russian Crude

    By Editors | 04/12/2022

    EU ban on seaborne crude oil imports from Russia to take effect. G7 oil price cap will only insurers to cover vessels carrying Russian crude sold under USD 60.

    Sanctions

    EU Proposes to Use Russian Assets to Rebuild Ukraine

    By Editors | 04/12/2022

    Frozen Russian assets would be actively managed to generate a “stable and fair net return” to help fund reconstruction efforts in Ukraine.

    AML / KYC

    UK Sanctions 22 Russian Officials for Conscription Efforts

    By Editors | 04/12/2022

    The sanctions target officials who have promoted and enforced the conscription of citizens to fight in Russia’s “illegal war in Ukraine”.

    AML / KYC

    FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees

    By Editors | 03/12/2022

    Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.

    Fintech / Regtech

    EU’s Digital Operational Resilience Act Wins Final Approval

    By Manesh Samtani | 01/12/2022

    All financial entities and the third parties that provide them ICT-related services will have to adhere to DORA requirements from around the end of 2024.

    Capital / Liquidity

    BOE Confirms Planned Approach to Basel III Implementation

    By Manesh Samtani | 30/11/2022

    The BOE says its approach is consistent with the “vast majority” of major financial jurisdictions, with “appropriate but limited” adjustments for the UK market.

    AML / KYC

    UK Crypto Fraud Increased 32pc Over One Year Period

    By Editors | 30/11/2022

    UK police unit Action Fraud said crypto-related fraud losses from October 2021 to September 2022 amounted to $270mn.

    AML / KYC

    EU to Gain Legal Authority to Punish Sanctions Circumvention

    By Editors | 30/11/2022

    The move will make it easier for EU authorities to take action against anyone who helps Russia avoid its sanctions.

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