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Financial Services
Editor's Picks
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White House seeks comprehensive AML review in digital assets report
As a White House working group on digital assets sees a “valuable opportunity” for a comprehensive review of the US framework against money laundering and terrorist... (more story)
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Bipartisan bill to promote AI in US financial services introduced in Congress
A bipartisan bill to promote artificial intelligence in financial services was introduced in the US House and Senate. The legislation seeks to advance AI through re... (more story)
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UK stablecoin regulation needs more ambition, campaigning lawmaker Edwards says
A more ambitious approach to regulating stablecoins is needed in the UK, the co-chair of a parliamentary group on digital assets told MLex in an interview. Respondi... (more story)
Insight View More
In another move to deregulate cryptocurrency assets as part of the White House's agenda, the US Securities and Exchange Commission said digital-asset deposit receipts intended as collateral or to generate retu... (more story)
The chief executive of insurance company Generali, Philippe Donnet, said negotiations with Natixis are ongoing and that the company could submit a binding contract for their joint venture to the insurance comp... (more story)
Banca Monte dei Paschi's CEO said he is still aiming to acquire national rival Mediobanca, despite the counter-offensive currently rolled out by the target. Mediobanca said last week that it could accelerate a... (more story)
Former star fund manager Neil Woodford and his eponymous fund have been fined nearly 46 million pounds by the UK financial markets watchdog for making unreasonable and inappropriate investment decisions. The W... (more story)
There is evidence that potential investors are delaying or abandoning investing in UK-based stablecoin firms because rules proposed by the Financial Conduct Authority mean it would make better economic sense t... (more story)
UK banks are set to pay at least 9 billion pounds to compensate car-finance customers who were treated unfairly, the Financial Conduct Authority said yesterday. The FCA will consult in early October for a redr... (more story)
Commission paid by UK banks to car dealers to secure financing agreements without customers’ informed consent is lawful, the country's highest court ruled today, dashing consumer hopes for billions of pounds o... (more story)
Major UK lender Barclays has exited the Net Zero Banking Alliance, a group of leading global banks committed to transitioning the real economy to net-zero greenhouse gas emissions by 2050. Barclays is the seco... (more story)
Comment View More
The EU and the UK regulatory frameworks for financial services have diverged since 2021, when the UK became no longer bound by EU law. Since then, the only cooperation on financial services between the two eco... (more story)
A division is emerging in the UK financial services industry over the future of digital money, after Bank of England governor Andrew Bailey again poured cold water on the idea that stablecoins might offer a vi... (more story)
A Bank for International Settlements paper warned of the risks from stablecoin use for money laundering and terrorism financing, their potential impact on fire sales, and possible strains on dollar funding liq... (more story)
As a White House working group on digital assets sees a “valuable opportunity” for a comprehensive review of the US framework against money laundering and terrorist financing, regulators and industry players a... (more story)
UK-based fintech company Ediphy recently proved its credentials on the European stage as the leader of FairCT, the consortium that won the mandate for the EU’s first consolidated bond tape — a landmark in the ... (more story)
The UK financial sector received a shot in the arm today with a Supreme Court ruling largely in favor of banks and other lenders in the closely watched car finance commission case — escaping the prospect of a ... (more story)
The UK Financial Conduct Authority has published a series of consultations on proposed crypto and stablecoin regimes, including on stablecoin issuance, cryptoasset custody and prudential requirements. The dead... (more story)
A more ambitious approach to regulating stablecoins is needed in the UK, the co-chair of a parliamentary group on digital assets told MLex in an interview. Responding to Bank of England governor Andrew Bailey’... (more story)