Earlier this year, the Financial Action Task Force (FATF) together with the Asia Pacific Group on Money Laundering (APG) published a report analysing the financial flows associated with human trafficking.
The report:
The Commodity Futures Trading Commission (“CFTC”) published a Request for input on December 17, 2018, seeking public comment and feedback on a set of twenty-five (25) questions to better inform the CFTC’s understanding of the technology, mechanics, and markets for virtual currencies beyond Bitcoin.
On 14 December 2018, the FCA published Policy Statement 18/22: Authorised push payment fraud – extending the jurisdiction of the Financial Ombudsman Service (PS18/22).
The rule changes in PS18/22 are intended to provide victims of alleged authorised push payment (APP) fraud with prompt and fair complaints resolution, and access to dispute resolution through the Financial
On 13 December 2018, the FCA published Handbook Notice No. 61.
The Handbook Notice describes the changes to the Handbook and other material made by the FCA board under its legislative and other statutory powers on 15 November and 13 December 2018. These changes were made in the following statutory instruments:
On 13 December 2018, the City of London Law Society (CLLS) published its response (dated 12 December 2018) to FCA Consultation Paper 18/29: Temporary permissions regime for inbound firms and funds (CP18/29).
Broadly speaking the CLLS welcomes the pragmatic approach the FCA proposes to take, but raises a technical issue concerning the protection of client
On 13 December 2018, the European Commission adopted the following Implementing Regulations under the Regulation on reporting and transparency of securities financing transactions (SFTR) which also amend the European Markets Infrastructure Regulation (EMIR):
On 17 December 2018, the European Commission issued a press release concerning a coordinated plan prepared with Member States to foster the development and use of artificial intelligence (AI) in Europe. The plan proposes joint actions for closer and more efficient cooperation between Member States, Norway, Switzerland and the Commission in four key areas: increasing
Earlier this year, the European Commission published a recommendation in relation to the non-binding guidelines for the identification of conflict-affected and high risk areas and other supply chain risks under the new Conflict Minerals Regulation.[1]
The Conflict Minerals Regulation, which will apply from 1 January 2021, lays down supply chain due diligence obligations for
On December 3, 2018, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Financial Crimes Enforcement Network (“FinCEN”), (collectively, the “Agencies”) issued a joint statement (“Joint Statement”) urging banks to consider, evaluate and potentially implement
Earlier this year, the Home Office announced its plan to launch an independent review of the Modern Slavery Act 2015. Led by Frank Field MP, Baroness Butler-Sloss and Maria Miller MP, the independent review aims to strengthen the UK’s ongoing response and accelerate progress from the government and businesses in eradicating modern slavery.
This review