From Lexology

Luxembourg: CSSF communication on sustainability-related disclosures and regulatory requirements

The Luxembourg financial regulator (CSSF) recently released a communication on the regulatory requirements arising from EU regulations on sustainability-related disclosures in the financial services sector and on regulatory technical standards. The CSSF indicates a deadline for updates to pre-contractual information and periodic disclosures for undertakings of collective investment in transferable securities, alternative investment funds and fund managers to submit the required updates.

06 September 2022

Korea: Measures against Unregistered Foreign Virtual Asset Service Providers

The Korean Financial Intelligence Unit under the Financial Services Commission (the KoFIU), on August 18, 2022, announced the "Measures against…

02 September 2022

Germany - New Regulation (KryptoFAV) Enables Issuance of Digital Fund Units on the Blockchain

The new German Regulation on Crypto Fund Units (Verordnung über Kryptofondsanteile - KryptoFAV) introduces the possibility to issue units of German…

02 September 2022

Buy-now-pay-later: what do I need to know?

Buy now, pay later (BNPL) is point-of-sale finance that allows consumers to spread payments for single purchases over a few installments. It is…

02 September 2022

UK: High Court grants bank access to customer documentation relating to receivables in securitisation transaction

The High Court has granted an application made by a bank acting for Senior Noteholders in a securitisation structure, for production of underlying…

01 September 2022

CFPB Finds UDAAP Violations on Garnishment Practices

In early May 2022, the Consumer Financial Protection Bureau (CFPB) entered into a consent order with Bank of America, N.A. (BoA) regarding BoA’s…

31 August 2022

Suits you, sir - the new FCA Consumer Duty

At the end of last month, the Financial Conduct Authority ("the FCA") confirmed its plans to introduce the new "Consumer Duty" in Policy Statement…

31 August 2022

Canada: Changes to anti-money laundering laws put PSPs, fintechs and crowdfunding platforms on notice

Changes to Canada's anti-money laundering laws are putting payment service providers, fintechs and crowdfunding platforms on notice. The choice of statutory language the government used in the order and regulations under the Emergencies Act, along with remarks at that time by the deputy prime minister and minister of finance, left a question mark regarding whether fundamental changes to the application of main federal anti-money laundering and anti-terrorist financing laws are afoot.

30 August 2022

ECB 2022 Climate Stress Test Calls European Banks to Action

On July 8, 2022, the European Central Bank ("ECB") released the results from its annual stress tests, this year focused on banks' ability to…

30 August 2022

A New UK Regulatory Landscape? HM Treasury lays the Financial Services and Markets Bill 2022-23 before Parliament

On 20 July 2022, just over 18 months after the end of the transition period that marked the UK’s full departure from the EU, HM Treasury laid the…

22 August 2022

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