EUROPE

Securities / Derivatives

French, German Banks to Extend Dealings With Indian CCPs

By Editors | 31/10/2024

At the same time, French and German regulators have asked their banks to consider alternate arrangements with local lenders.

Sanctions

UK Sanctions Three Entities Responsible for Russian Disinformation

By Editors | 31/10/2024

The three entities are responsible for a “vast malign online network” which “plagues social media with fake posts, counterfeit documents and deepfake material”.

UK FCA Sets Priorities and Expectations for Retail Banks in 2025

By Nithya Subramanian | 30/10/2024

Dear CEO letter highlights the consumer duty, operational resilience, fraud and financial crime, and sustainable finance as key focus areas for retail banks.

AML / KYC

Italy Uncovers Major VAT Fraud Linked to Chinese Money Laundering Network

By Nithya Subramanian | 29/10/2024

The operation spanned 20 Italian cities, leading to the seizure of high-end assets and the arrest of seven suspects, including two alleged ringleaders.

Sanctions

US Finalised $20b Portion of G7 Loan for Ukraine

By Editors | 24/10/2024

The rest of the $50bn loan will be provided by other G7 allies. Earnings from frozen Russian assets will be used for repayments.

Market Infrastructure

SIX Signs Cooperation MoU With Hong Kong’s CMU OmniClear

By Manesh Samtani | 24/10/2024

SIX and the HKMA subsidiary will cooperate to unlock further cross-border investment opportunities between Switzerland and Hong Kong.

Sanctions

Switzerland Adopts More Measures from EU’s 14th Russia Package

By Editors | 21/10/2024

Switzerland will not adopt the EU text that requires companies to prevent circumvention via their subsidiaries “to the best of their ability”.

Fintech / Regtech

UK Government Consults on Legislation to Regulate BNPL

By Editors | 21/10/2024

BNPL providers will have to ensure consumers receive clear information, avoid unaffordable borrowing, and have strong rights when issues arise.

Fintech / Regtech

FCA Launches “AI Lab” to Support Financial Sector Innovation

By Manesh Samtani | 20/10/2024

The FCA’s Jessica Rusu said the AI Lab will help firms overcome challenges they face in building and implementing AI solutions.