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Financial Services
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Convicted investment fraudsters in UK hit by GBP300,000 confiscation order
Three convicted investment fraudsters in the UK are the subject of confiscation orders totaling more than 300,000 pounds. The Financial Conduct Authority said the m... (more story)
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Legislation to bring UK crypto activity within regulatory perimeter published
Draft legislation that seeks to define cryptoassets and stablecoins — and to bring certain activities related to them within the regulatory perimeter — has been pub... (more story)
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UK prudential watchdog weighs shift from tech-neutral rules amid rise of AI
The Prudential Regulation Authority, the regulatory arm of the Bank of England, is internally debating whether to shift from its tech-agnostic approach, due to the ... (more story)
Insight View More
Meta Platforms and other tech giants looking ahead to UK guidance on preventing fraudulent advertising online have a mixed message after the regulator responsible today refused to recognize the tight delivery ... (more story)
The EU review of Italian bank UniCredit’s plan to buy national rival Banco BPM has been extended by two weeks, to June 19, after a national authority asked the European Commission to transfer the probe. The It... (more story)
Spreadex was fined 2 million pounds today by the UK’s gambling regulator for anti-money laundering failures, the second time in three years it has faced action for lax financial-crime controls. The Gambling Co... (more story)
The UK's planned new stock exchange for private companies will be up and running with shares traded before the end of the year, the government said as it bids to revive flagging capital markets under its prior... (more story)
Caroline Pham, the acting US Commodity Futures Trading Commission chair, expressed outrage that the agency engaged in a “malicious campaign” against her when she voiced concerns about its handling of a 2023 en... (more story)
Social-media platforms and other tech companies have been warned that they may face further measures to counter fraud in the UK if obligations recently introduced by the Online Safety Act are found to be ineff... (more story)
Germany’s position on the EU proposal for bank crisis management reform remains unchanged under its new government, finance minister Lars Klingbeil has said, and won't deviate from EU governments' agreed stanc... (more story)
Three convicted investment fraudsters in the UK are the subject of confiscation orders totaling more than 300,000 pounds. The Financial Conduct Authority said the money would be returned to investors at the ea... (more story)
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A voluntary pledge outlined today by 17 major pension providers to allocate more funds to UK companies lands shortly before a major review of pensions investments that could mandate such an approach. While see... (more story)
The US Securities and Exchange Commission's $50 million settlement with Ripple Labs — down from a $125 million court order — is the latest Trump administration retreat on cryptocurrency enforcement, potentiall... (more story)
The UK’s sanctions enforcer took to its blog today to get across the message of how seriously it takes non-compliance with information requests. A recent penalty that OFSI imposed on Svarog Shipping & Trading ... (more story)
When Huione Group was contacted last year by an Australian media outlet about allegations that it was being used to launder money for the online scam industry, the Cambodian financial conglomerate acknowledged... (more story)
The Senate testimony of Michelle Bowman, President Donald Trump’s nominee for the US Federal Reserve’s top banking regulator, is generating concerns among legal scholars for its potential threats to the Fed’s ... (more story)
EU banks looking to consolidate would be advised to note a European Central Bank letter published this week, in which the ECB pushed against Banco BPM's use of a loophole to cut the costs involved in acquiring... (more story)
UK banks and insurers received updated climate-risk guidance from the Bank of England's supervisory arm today, just as the UK government itself was being dressed down for being unprepared to face climate chang... (more story)
The UK cryptoasset industry breathed a collective sigh of relief yesterday afternoon with sight of long-promised legislation laying the path toward a regulated sector. It broadly met industry expectations and ... (more story)