Regulatory Round-Up
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Latest News
FCA Makes New Rules
FCA’s latest Handbook Notice confirms it has made rules amending a variety of regulations that have been discussed recently.
Conference Report: How to Approach the GDPR for the First Time
At the latest MLROs.com conference in London, delegates examined the European Union’s General Data Protection Regulation and what it meant for compliance people at financial firms. Not enough firms have begun to comply…
Putting MLD IV into Practice: a Checklist
This week MLROs.com, the AML trade body, hosted a conference at the London offices of the law firm of Gordon Dadds. Delegates received a good grounding in the preventive measures required by the European Union’s fourth Money Laundering Directive…
EU Beneficial-Ownership Registers Delayed By Years
Only three of the European Union’s 28 member states launched beneficial ownership databases by the bloc’s June 2017 deadline and many of the national databases will not be fully searchable…
Putting MLD IV into Practice: a Checklist
This week MLROs.com, the AML trade body, hosted a conference at the London offices of the law firm of Gordon Dadds. Delegates received a good grounding in the preventive measures required by the European Union’s fourth Money Laundering Directive…
Slovenia Opens Investigation into Iran-related Money Laundering Scandal
Slovenia has launched an investigation into allegations that its biggest state-owned bank laundered nearly €1 billion (US$ 1.17 billion) from Iran between 2008 and 2010, Euractiv reported Monday.…
Sudan Sanctions: US Lifts Most Economic Restrictions After Two Decades
The US is lifting most of the economic and trade sanctions it first imposed on Sudan two decades ago….
Conference Report: How to Approach the GDPR for the First Time
At the latest MLROs.com conference in London, delegates examined the European Union’s General Data Protection Regulation and what it meant for compliance people at financial firms. Not enough firms have begun to comply…
Draft GDPR Guidance Receives a Significant Response
The Information Commissioner’s Office (ICO) recently announced that it has received a large number of responses to its consultation on the…
Will Ex-President be Sent Home to Panama to Face Charges? His Fate up to Miami Judge
A Miami federal judge signaled Thursday that his mind is open about whether to send a former Panamanian president back home to face charges that he illegally spied on enemies and allies alike…
The FCA Investigation of Barclays’ Why did it Expose an Informant
The UK ‘s Financial Conduct Authority and Prudential Regulation Authority are investigating Barclays to see whether…
RCMP Casino Money Laundering Probe Uncovered Alleged ‘Terrorist Financing’ Links
An RCMP investigation into underground banking and alleged laundering of drug cash in B.C. casinos revealed suspicions of “terrorist financing,” a B.C. government document obtained by Postmedia alleges…
Nigeria Risks Imminent Expulsion from Egmont Group
It is news that the Nigerian Financial Intelligence Unit, NFIU, has been suspended from the activities of the…
China Orders All Bitcoin Exchanges to Close
The country’s regulators have reportedly issued an order to all local cryptocurrency exchanges to halt new user registration by midnight on Sept. 15 and publicly notify users when they’ll formally close…
OCBC Bank, HSBC and MUFG in KYC blockchain breakthrough
OCBC Bank, HSBC and Mitsubishi UFJ Financial Group (MUFG), together with the Infocomm Media Development Authority (IMDA), has become the “first consortium”…
Government Makes CFA Guidance
The Facilitation of Tax Evasion Offences (Guidance about Prevention) Regulations 2017 were laid before Parliament…
LLoyd’s Sets Out CFA Expectations
Lloyd’s has published a market bulletin on the Criminal Finances Act, focusing on its expectations…
Lords Publishes Brexit FS Evidence
The House of Lords Select Committee on the EU has published the uncorrected oral evidence of its hearing…
Treasury Committee Letter to Chancellor on Effect of Brexit on Insurance Contracts
The Treasury Committee has published a letter written to the Chancellor of the Exchequer highlighting…
Slovenia Opens Investigation into Iran-related Money Laundering Scandal
Slovenia has launched an investigation into allegations that its biggest state-owned bank laundered nearly €1 billion (US$ 1.17 billion) from Iran between 2008 and 2010, Euractiv reported Monday…
Adani Australia: Investigation Uncovers Tax Haven Ties to British Virgin Islands
An investigation by the ABC’s Four Corners program has uncovered previously unknown tax haven ties for Adani Group’s Australian operations, with key assets ultimately owned in the British Virgin Islands…