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Financial Services
Editor's Picks
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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)
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Former Smartmatic executive gave US leads amid early cooperation on bribery
A former Smartmatic executive’s early cooperation with US authorities gave the government new leads as they investigated a bribery scheme involving the voting machi... (more story)
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Two private equity executives were sentenced to prison today after they were convicted of defrauding investors by misrepresenting the performance of investment funds and the source of distribution payments. Wh... (more story)
The European Commission has opened a consultation on various regulations needed to foster EU market integration and efficient supervision. The feedback is intended to help the bloc’s executive arm shape a seri... (more story)
Swiss banking giant UBS faces an appeal over a legacy accusation that rival Credit Suisse, which it took over two years ago, failed to prevent an employee from laundering the proceeds of Bulgarian drug money t... (more story)
A celebrity art dealer has become the first person in the UK to be charged and plead guilty to charges of failing to make disclosures under the country’s terror financing laws. Oghenochuko Ojiri, 53, will be s... (more story)
Italian bank Mediobanca said today that its bid for Banca Generali will make it a less interesting target for Monte dei Paschi di Siena's hostile bid, as it would reinforce the lack of synergies between MPS an... (more story)
The brothers Matthew and Nikolas West today pleaded guilty to making thousands of pounds’ worth of profits from insider dealing in the shares of five companies. The pair will be sentenced in July and could fac... (more story)
The US Securities and Exchange Commission is considering an exemptive order to let firms using a blockchain or other distributed ledger technology issue, trade and settle securities, said Commissioner Hester P... (more story)
The UK’s sanctions enforcer warned today that it takes a “dim view” of companies that delay or fail to respond to information requests it sends, as it revealed a penalty on a business in the oil shipping secto... (more story)
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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)
Mediobanca yesterday revealed a bid for rival Banca Generali, adding complexity to dealmaking in the Italian baking sector, in which Mediobanca is itself a target of Banca Monte dei Paschi di Siena, or MPS. It... (more story)