EUROPE

Market Infrastructure

Working Group Publishes Recommendations on EURIBOR Fallbacks

By Editors | 13/05/2021

Although EURIBOR is not scheduled to be discontinued, the recommendations will provide legal certainty and help users comply with BMR fallback obligations.

AML / KYC

EBA Consults on Proposals for Central AML/CFT Database

By Editors | 12/05/2021

The central database will serve as an early warning tool to enable competent authorities to act before ML/TF risks crystalise and faciltiate inspections and monitoring.

Crypto / Digital Assets

UPDATED – BaFin Says Binance Stock Tokens Violate Securities Laws

By Sanday Chongo Kabange | 05/05/2021

The tokens require the publishing of a prospectus, “minimum information required by law” for the sale of an investment product.

AML / KYC

BaFin Orders Deutsche Bank to Further Enhance AML Controls

By Sanday Chongo Kabange | 04/05/2021

Deutsche Bank is asked to further bolster safeguards against financial crime, including in its correspondent banking relationships and transaction monitoring.

Fintech / Regtech

EIB Issues First Digital Bond on Public Blockchain

By Sanday Chongo Kabange | 04/05/2021

The digital bond issuance was carried out using a distributed ledger for registration and a CBDC for settlement.

Securities / Derivatives

FCA Proposes Rule Changes to Encourage SPAC Listings

By Sanday Chongo Kabange | 03/05/2021

The FCA proposes to exempt SPACs that identify an acquisition target from being suspended, if they have certain investor protections in place.

Market Infrastructure

Cboe to Launch New European Venue for Equity Derivatives

By Editors | 02/05/2021

Clients will benefit from having more choice, and lower friction pricing models will promote greater liquidity, says Morgan Stanley’s David Russell.

AML / KYC

UK Establishes New Global Anti-Corruption Sanctions Regime

By Manesh Samtani | 28/04/2021

The UK has made its first 22 designations under the new regime, including individuals in Russia, South Africa, Honduras, Nicaragua, Guatemala and South Sudan.

Crypto / Digital Assets

UK Taskforce Publishes Digital Dispute Resolution Rules

By Sanday Chongo Kabange | 25/04/2021

The rules allow parties to digital transactions to quickly resolve disputes through arbitration, where decisions are implemented within smart contracts.