From Lexology

The proposed European Money Laundering database

Nicola Sharp of Rahman Ravelli details the steps being taken by the European Banking Authority to devise a central record of institutions thought to…

17 May 2021

Virtual Asset Service Providers in the regulatory spotlight

Virtual Asset Service Providers (VASPs) are firms that provide certain services relating to virtual assets such as offering an exchange between…

12 May 2021

Japan's amended Payment Services Act could prompt more nonbank entries into traditional banking Services

The amendment to the Payment Services Act ("PSA") of Japan took effect in May 2021, removing the current numerical transfer cap placed on fund…

12 May 2021

South Africa: will we see authorised crypto providers?

On 20 November 2020 the South African Financial Sector Conduct Authority (FSCA) published a draft declaration relating to crypto assets (including…

07 May 2021

Turkey: crypto asset service providers and funding companies listed as obliged persons under regulations on prevention of laundering proceeds of crime

Official Gazette No. 31405 (Additional Issue No. 2) dated 24 February 2021 amended the Regulation on Measures regarding the…

07 May 2021

EBA consults on prudential disclosures on ESG risks

Regulators and sustainability-conscious investors increasingly expect banking institutions in the European Union to focus on environmental, social…

06 May 2021

Divergence in The City

With the EU-UK Trade and Cooperation Agreement signed and Brexit now becoming an increasingly settled fact, the areas of potential divergence between…

29 April 2021

Businesses must prepare for expansive AML reporting of beneficial ownership interests

As covered in our earlier advisory, "AML Enforcement Continues to Trend in 2021," the recently passed National Defense Authorization Act for fiscal…

29 April 2021

Are the Baltics the ideal marketplace for developing FinTech companies?

As a result of the United Kingdom (“UK”) exiting the European Union (“EU”) on 1 January 2021, a number of financial institutions in the UK lost their…

29 April 2021

Understanding Virtual Assets regulations in the Philippines

When virtual currencies such as Bitcoin were gaining usage in the Philippine market, the Bangko Sentral ng Pilipinas (“BSP”) issued a cautionary…

29 April 2021

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