Europe

Crypto / Digital Assets

UK: New Rules for Advertising Crypto to Take Effect in October

By Editors | 11/06/2023

All cryptoasset firms marketing to UK consumers, including firms based overseas, will need to comply with the new rules.

Capital / Liquidity

Credit Suisse Rescue Deal to Undergo Parliamentary Probe

By Editors | 11/06/2023

UBS has meanwhile finalised a guarantee agreement with the Swiss government and is now expected to close its Credit Suisse acquisition on Monday (12 June).

Sanctions

EU Council Seeks to Criminalise Sanctions Circumvention

By Editors | 10/06/2023

EU member states would be obligated to criminalise sanctions circumvention, including activities to help bypass an EU travel ban or trade in sanctioned goods.

Crypto / Digital Assets

MiCA Text Published in EU Official Journal

By Karen Ng | 10/06/2023

The provisions on stablecoins will be enforced from 30 June 2024. The provisions for crypto asset service providers will be enforced starting 30 December 2024.

Fintech / Regtech

In Global First, UK to Require Banks to Reimburse Fraud Losses

By Karen Ng | 08/06/2023

The Payment Systems Regulator will make it mandatory for banks, building societies and payment firms to reimburse victims of APP fraud.

Crypto / Digital Assets

Russia Drops Plan to Establish National Crypto Exchange

By Mark Johnston | 06/06/2023

The country now plans to create rules that will enable multiple crypto trading platforms to be established and conduct cross-border transactions.

ESG / Sustainability

EU Watchdogs Settle on Greenwashing Definition

By ESG Investor | 06/06/2023

The EBA, EIOPA and ESMA have put forward a common high-level definition of greenwashing applicable to banking, insurance and pensions and financial markets.

Enforcement

FCA Fines ED&F Man Capital Markets for Cum-Ex Trading Breaches

By Editors | 05/06/2023

The GBP 17.2 million fine is the largest imposed thus far in connection with the cum-ex tax fraud scheme.

AML / KYC

EU, Canada Sanction Moldova Nationals for ‘Destabilising’ Activities

By Manesh Samtani | 04/06/2023

Four individuals are on both sanctions lists for supporting a Russian plan to overthrow the Moldovan government.