1st April 2021
The UK Financial Conduct Authority (FCA) published a new policy statement Wednesday that includes crypto companies on the list of businesses required to submit a financial crime report. Businesses that are required to submit financial crime reporting are referred to by the FCA as “REP-CRIM”, which crypto asset… Read More
1st April 2021
Julius Baer can resume large acquisitions after markets watchdog FINMA lifted a ban levied against the Swiss private bank last year for failings in combating money laundering involving cash linked to world soccer body FIFA and Venezuela’s oil company. In February 2020, FINMA cited scores of failings at Switzerland’s third-largest… Read More
31st March 2021
It could be a while before European Union gets a central bank digital currency, if it gets one at all. In a Wednesday interview with Bloomberg Television, European Central Bank President Christine Lagarde laid out the complex decision-making process with which the bank will determine the… Read More
31st March 2021
The narrative The Financial Action Task Force (FATF), the inter-governmental watchdog that establishes standards for anti-money laundering (AML) and know-your-customer (KYC) requirements, has published new draft guidance for decentralized platforms. Why it matters FATF made headlines two years ago when it proposed – and then finalized… Read More
31st March 2021
Shadow banking in India has gained increasing popularity over the last 30 years or so, following the financial deregulation of the early 1990s that brought the growth of non-banking financial companies (NBFCs) across the country. During this period, NBFCs have consistently managed to gain market share, often at the expense… Read More
30th March 2021
Britain will focus first on regulating stablecoins rather than the broader cryptocurrency market, its financial services minister said on Tuesday, citing the threat to competition should any major private effort dominate the emerging field. Facebook Inc’s move in 2019 to introduce its own stablecoin Diem, then known as Libra, raised… Read More
30th March 2021
The company service providers (amendment) act, 2020 (referred to as the ‘amendment act’ in the following text) came into force on March 16, 2021, by virtue of Legal Notice 96 of 2021. It serves to amend the provisions of the company services providers act, chapter 529 of the Laws of… Read More
30th March 2021
The Dubai Financial Services Authority, or DFSA, is continuing its efforts to create a standardized framework for cryptocurrency regulations in the megacity. According to a DFSA press release issued on Monday, Dubai’s financial regulator has called on members of the public to submit comments on its proposed regulations for… Read More
29th March 2021
The U.K.’s financial regulator is pushing for individuals to come forward if they have information on possible wrongdoing in a new campaign that clarifies the whistleblowing process at the agency. The Financial Conduct Authority, which regulates financial services companies in the U.K., published a digital tool kit and materials this… Read More
29th March 2021
Britain and the European Union took their first step since Brexit to cooperate on financial services, agreeing on a new forum to discuss market regulation. The move could help finance firms in the City of London to eventually win back some access to the single market they lost when the… Read More