UK Treasury sweeps crypto into sanctions scheme

Crypto exchanges in the UK must now comply with the same strict Russian sanctions requirements as their counterparts in banks, according to updated guidance issued by the UK government.

07 September 2022

“Business as usual”: Sberbank’s Swiss and Kazakh arms change hands following sanctions

Russia’s largest bank has sold its subsidiaries in Switzerland and Kazakhstan, over six months after the country’s invasion of Ukraine prompted international sanctions.

05 September 2022

ECB begins SREP revision process with five-expert panel

The European Central Bank is reviewing its supervisory review and evaluation process, appointing a review panel including senior regulatory officials from Japan, Canada, the US, Ireland and the Financial Stability Institute.

05 September 2022

Hogan Lovells hires partner in Dublin

The former head and founder of DLA Piper’s Irish financial services regulatory practice has joined Hogan Lovells as a partner in its Dublin office, after a short stint in-house at equity crowdfunding platform Birchal, while a financial regulatory associate is also joining the firm from Walkers.

05 September 2022

Greylisted UAE takes Wise to task for AML failures

The financial regulator of Abu Dhabi’s free zone has fined fintech Wise for a series of poor money laundering controls, months after the FATF cited the UAE’s lax enforcement against money laundering in its decision to greylist the country.

01 September 2022

Swiss legislation “lagging behind” in AML fight

Switzerland’s federal auditor has criticised the country’s anti-money laundering legislation, saying it fails to anticipate developments at international level – but its recommendations have already received government pushback.

01 September 2022

Singaporean regulator admits “mixed signals” on crypto, warning it may restrict crypto access

Singapore’s financial watchdog has indicated it may make it more difficult for retail investors to access cryptocurrencies, in a shift from its previous welcoming position on digital assets.

31 August 2022

A “first step” in US-China audit inspections

The United States’ accounting overseer will be able to inspect firms based in mainland China and Hong Kong, following an agreement with China’s securities regulator – but US officials have cautioned it’s still too early to say whether the deal will hold up.

31 August 2022

UK regulators’ HBOS investigation ends with a whimper

The UK’s banking regulators have announced, that following a six-year probe, they will not take any action against the managers of collapsed bank HBOS.

31 August 2022

“Cultural shift” needed to fill ASIC capability gaps, competence review finds

Australia’s recently-established review body for financial regulators has told the country’s securities regulator it needs a “substantial uplift” in its data and tech capabilities in order to meet the financial sector’s needs.

30 August 2022

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