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Europe
Securities / Derivatives
UK FCA Consults on Regulatory Approach for Overseas Funds
By Editors | 05/12/2023
The new regime will provide a “streamlined process” for overseas funds to market to UK retail customers if the government finds a jurisdiction equivalent.
Fintech / Regtech
Payments Into Europe Can Now Reach Beneficiaries “in Seconds”: Swift
By Editors | 03/12/2023
The EPC’s One-Leg-Out Instant Credit Transfer scheme enables payments to and from Europe to be processed 24 hours a day, seven days a week.
Market Infrastructure
RBI, BOE Agree to Cooperate on CCIL Information Exchange
By Manesh Samtani | 03/12/2023
The BOE recognises the “primacy” of the RBI in supervising India-based CCPs and agrees to rely on home country regulation and supervision.
Crypto / Digital Assets
Third Phase of CBDC Project “Helvetia” Gets Underway
By Manesh Samtani | 01/12/2023
The pilot programme allows participating banks to settle digital bonds and repo transactions against wholesale CBDC on a DvP basis.
AML / KYC
UK Secures Pledges from Global Tech Firms to Tackle Online Fraud
By Sanday Chongo Kabange | 01/12/2023
Signatories pledge to block and remove fraudulent material from their platforms and services and to work closely with law enforcement.
Securities / Derivatives
UK Court Rules That LME Nickel Trade Cancellations Were Lawful
By Editors | 30/11/2023
The court ruling supports the LME’s argument that its actions in March 2022 were necessary to prevent a potential market collapse.
AML / KYC
13 FIUs Establish Task Force to Disrupt Terrorist Financing
By Editors | 28/11/2023
The FIUs including FinCEN, UKFIU, AUSTRAC, and NZFIU established the task force last month but is publicly recognising its formation now.
Sanctions
EU Expands Sanctions “Carve-Out” for Humanitarian Aid
By Editors | 28/11/2023
Latest Council decision will permit humanitarian transactions with EU-sanctions targets under 10 sanctions programs.
Crypto / Digital Assets
EBA Consults on Travel Rule Guidelines for Funds and Crypto Transfers
By Mark Johnston | 27/11/2023
The EBA plans new guidelines to prevent the misuse of funds and crypto-assets transfers for illicit purposes, aligning with FATF standards.
Crypto / Digital Assets
UK Funds Can Start Tokenising Funds, FCA Confirms
By Mark Johnston | 25/11/2023
In this initial stage, FCA authorised funds can implement tokenisation using a “baseline approach”, provided they meet certain characteristics.
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