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Financial Services
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South Korea's Democratic Party readies sweeping digital asset legislation
South Korea's Democratic Party of Korea is accelerating efforts to introduce a comprehensive framework law on digital assets — a long-anticipated follow-up to last ... (more story)
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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)
Insight View More
South Korea's Democratic Party of Korea is accelerating efforts to introduce a comprehensive framework law on digital assets — a long-anticipated follow-up to last year’s Virtual Asset User Protection Act. The... (more story)
"Buy now, pay later" providers such as PayPal and Klarna should be regulated by mid-next year, the UK government said today as it introduced legislation into Parliament. It has not yet decided exactly which ty... (more story)
EY’s audit of collapsed health operator NMC Health was one of the most “fundamentally flawed” examples of auditing to have “disgraced” the profession, a London court was told as the trial of a 2 billion-pound ... (more story)
France is to propose a label for long-term EU savings products next month aimed at helping mobilize citizens' savings for investment in projects of European interest, MLex has learned. The initiative, recommen... (more story)
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)
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US appeals court judges fired skeptical questions at the union lawyer challenging the Trump administration’s mass layoffs at the US Consumer Financial Protection Bureau – suggesting that the beleaguered agency... (more story)
UK government plans to consolidate sanctions lists and speed up enforcement of civil-law breaches will be welcomed as aims, but the new plan fails to grasp the nettle of patchy enforcement. The latest look at ... (more story)
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)