Europe

AML / KYC

UK FCA Calls on Firms to Improve Use of National Fraud Database

By Mark Johnston | 25/01/2025

FCA review found that some firms underutilise the NFD and don’t always report cases that meet the standard of proof required.

Fintech / Regtech

UK FCA Outlines Next Steps to Expand Open Banking

By Thisanka Siripala | 24/01/2025

An independent central operator will be established to coordinate how variable recurring payments are made, potentially lowering processing fees

Securities / Derivatives

FSS Korea Designates LuxSE as ‘Major Overseas Market’

By Mark Johnston | 24/01/2025

Korean companies meeting certain conditions don’t have to submit a domestic securities registration statement to issue foreign currency bonds on LuxSE

Capital / Liquidity

EU Launches Stress Test Exercise to Assess Bank Resilience

By Mark Johnston | 24/01/2025

Banks submitting “overly optimistic” projections will face “additional scrutiny throughout the quality assurance phase, potentially including on-site visits”.

Big Picture

Climate-Linked Bonds Can Help Drive Net Zero Transition: ECB Paper

By Thisanka Siripala | 23/01/2025

Climate-linked bonds can encourage governments to proactively address climate change and help investors hedge against long-term climate risks

Market Infrastructure

ESMA Launches Governance Structure to Support Transition to T+1

By Nithya Subramanian | 23/01/2025

The new governance structure establishes committees and specialised groups to address the regulatory and legal implications of the transition.

Crypto / Digital Assets

UK FCA Commits to Relaxing Rules to Drive Economic Growth

By Thisanka Siripala | 21/01/2025

FCA Chief Executive Nikhil Rathi said the regulator will make growth will be a fundamental pillar of its strategy through to 2030

Capital / Liquidity

UK Delays Basel III Implementation Amid US Uncertainty

By Thisanka Siripala | 21/01/2025

The PRA said Basel III implementation will be delayed an additional year until January 2027. The EU is now considering its options.

AML / KYC

UK Minister Resigns Over Ties to Ousted Bangladesh PM

By Nithya Subramanian | 20/01/2025

Tulip Siddiq denied any wrongdoing but said she was resigning because her position was “likely to be a distraction from the work of the government”.