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UCITS and AIFMD: ESMA Reports
ESMA's latest reports on EU securities markets reveal a consistent trend of low penalties under UCITS and AIFMD directives. In 2022, 9 NCAs issued 38 UCITS penalties, while 10 NCAs imposed €2.5M in AIFMD penalties. Interestingly, one NCA stood out as the main enforcer in both cases.
Compliance Automation: Benefits for Financial Services
Discover the transformative role of compliance automation in today's evolving business landscape. This detailed exploration underscores the importance of automation softwares in managing compliance, positioning it as a pivotal tool in the GRC solutions toolkit.
EU Banks Decreased Asset Encumbrance: EBA Report
EU banks' asset encumbrance ratio decreased to 25.8% in 2022, nearing pre-pandemic levels, per the EBA report. They're gradually repaying central bank facilities, reducing dependence on central bank funding.
FSB Global Crypto Regulatory Framework
The FSB proposes global regulations for crypto and DeFi. Separating funds, preventing conflicts of interest, and equal rules for G20 countries. Stablecoins need 1:1 reserves, reviewed by 2025.
AML Compliance: Bafin's Directive on N26 Bank
BaFin extends anti-money laundering measures against N26 Bank AG. Deficiencies remain despite progress. Bank must improve suspicious activity reporting, IT monitoring, and outsourcing controls. Growth restriction on new customers extended. Special representative's mandate expanded.
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