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Europe
Sanctions
EU Issues New Guidance on Preventing Sanctions Circumvention
By Editors | 11/09/2023
If sanctioned items are exported to third countries and then re-exported to Russia, the underlying due diligence inadequacies will be considered sanctions law violations.
Crypto / Digital Assets
UK FCA Issues Guidance on New Crypto Advertising Rules
By Manesh Samtani | 10/09/2023
The FCA is “concerned” about crypto firms that have not engaged with it on the new advertising rules, which come into force next month.
Market Infrastructure
Trade Bodies Call on Policymakers to Scrap EU Clearing Proposal
By Editors | 10/09/2023
A proposed requirement for market participants to hold active accounts at EU CCPs will be detrimental to EU capital markets, the trade bodies say.
Enforcement
US, UK Jointly Sanction Trickbot Ransomware Actors
By Editors | 08/09/2023
The US and UK sanctioned 11 members of the Russia-based cybercrime gang. The DOJ unsealed indictments against 9 individuals, including 7 of the sanctions targets.
Securities / Derivatives
HKEX Expands Global Footprint with New London Office
By Editors | 08/09/2023
The new London office together with a New York office opened in June give HKEX a presence in the world’s three major time zones.
AML / KYC
UK to Designate Wagner Group as Terrorist Organisation
By Sanday Chongo Kabange | 07/09/2023
The draft order to proscribe Wagner Group is expected to pass in Parliament and come into force on 13 September.
Sanctions
FCA Unveils Findings from Sanctions System Testing in Financial Sector
By Manesh Samtani | 07/09/2023
The FCA used a “new analytics-based tool” developed in-house that tests how effective firms are at identifying sanctioned individuals and entities.
AML / KYC
UK FCA Launches Review of Treatment of PEPs
By Editors | 07/09/2023
The FCA said it will take “prompt action” if any significant deficiencies are identified in the arrangements of any firm assessed in the review.
Market Infrastructure
RBI, ESMA Close to Resolving Stand-Off Over CCPs – Report
By Manesh Samtani | 07/09/2023
Discussions regarding MoUs between the RBI and ESMA are reported to be progressing more smoothly and regularly.
Crypto / Digital Assets
UK Completes Discovery Phase of ‘Regulated Liability Network’
By Editors | 06/09/2023
In the next phase, a PoC will continue testing the Regulated Liability Network for consumer domestic payments involving retail CBDC.
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