Europe

AML / KYC

EBA CLEARING Issues Specifications for New Anti-Fraud Functionality

By Editors | 18/09/2023

Nine banks are engaged in the data model training for the new fraud-fighting functionality in STEP2 and RT1.

Sanctions

US and Allies Impose New Wave of Sanctions Against Iran

By Editors | 18/09/2023

The sanctions by the US, UK, Canada and Australia come one year after the death of Mahsa Amini while in the custody of Iran’s Morality Police.

Capital / Liquidity

BIS Paper Suggests Redesign of AT1 Instruments May Be Warranted

By Editors | 17/09/2023

The paper says some market participants “may not fully appreciate” that writedown conditions  may differ across AT1 instruments.

Sanctions

G7 Plans to Ban Imports of Russian Diamonds – Report

By Mark Johnston | 17/09/2023

The move is part of efforts to reduce Russia’s revenues and pressure it to end its war in Ukraine.

ESG / Sustainability

EU SFDR Review Mulls New Categorisation System

By ESG Investor | 15/09/2023

The consultation spans issues such as legal certainty, usability, and how SFDR can play its part in tackling greenwashing.

Crypto / Digital Assets

EU Parliament Approves Crypto Tax Reporting Rules

By Mark Johnston | 14/09/2023

The rule, known as DAC8, aligns with the OECD’s crypto-asset reporting framework and will take effect on 1 January 2026.

Capital / Liquidity

UK FCA Intensifies Oversight of Bank Risk Assessment

By Editors | 13/09/2023

Risks from customers can affect a bank’s ability to have enough liquidity in challenging markets, the FCA’s Simon Walls said in a letter to bank CEOs.

Securities / Derivatives

India to Explore Allowing Domestic Firms to Directly List in London

By Editors | 13/09/2023

India’s government will explore the London Stock Exchange as an international destination for the direct listing of Indian companies.

Sanctions

EU Imposes Human Rights Sanctions Against Russian Judges, Prosecutors

By Editors | 13/09/2023

The EU Council said Russia’s judiciary is “not independent” and is “used to systematically and severely violate the human rights of individuals opposed to the ruling regime”.