Topic: UK FCA

COP26 Finance Day: regulation round-up

Regulators and central banks have issued more climate-related commitments to coincide with COP26’s finance day, including preparations from the United Kingdom for becoming the world’s first “net-zero aligned finance centre” and the IFRS announcing plans for a single standard for sustainability disclosures.

04 November 2021

NatWest admits criminal money laundering failures

NatWest faces a £340 million fine after the UK lender pleaded guilty in a London court to breaching anti-money laundering regulations between 2012 and 2016.

11 October 2021

Singapore goes SPAC to basics

The Singapore Exchange is rolling out easier guidelines for special purpose acquisition companies, making it the first major bourse in Asia to list blank cheque companies.

06 September 2021

Binance "not capable" of being effectively supervised, FCA says

The UK’s Financial Conduct Authority has said that cryptocurrency exchange Binance is “not capable” of being effectively supervised and poses “significant risk”, after it revealed the platform had skirted standard information requests over the last year.

26 August 2021

UK firms “not fully aware” of AML requirements as FCA cracks down

Almost one in ten UK-based firms are not completing key financial crime risk assessments and do not have the necessary resources and staff to cope with impending reporting requirements, a report has found.

24 August 2021

Simmons & Simmons advises on UK-Kuwait Islamic digital bank creation

A Kuwaiti bank advised by Simmons & Simmons has established the world’s first international Islamic digital bank.

13 August 2021

Post-Brexit wholesale markets proposals “not about lowering standards”, UK insists

The UK is set to diverge from key EU financial market regulations and make regulation “more agile” under newly-released government proposals that have been called its “most significant and far-reaching” to date.

05 July 2021

FCA proposing extended Libor for sterling and yen settings

The UK’s Financial Conduct Authority has proposed allowing the use of some yen and sterling-denominated Libor interest rates beyond the 31 December cut-off, but is warning market participants not wait for a “potential synthetic solution”.

28 June 2021

FCA pushes to net zero in climate disclosure plans

Issuers of listed securities and asset managers will need to make climate disclosures under new FCA proposals, seeking to bring financial regulation in line with the UK’s 2050 net-zero goal.

24 June 2021

FCA extends crypto registration deadline amid money laundering concerns

The UK’s Financial Conduct Authority has extended the temporary registration deadline for cryptoasset businesses, after the majority of applicants failed to meet anti-money laundering standards.

04 June 2021

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