Blog

The European Parliament proposes reforms to enhance transparency, integrity, and anticorruption measures. A report highlights ongoing investigations into corruption, money laundering, and criminal involvement. It emphasizes the financial impact and threats to democracy.

AFME supports the European Commission's proposals on Financial Data Access (FIDA) and Payment Services. They see it as an opportunity for banks to access broader data sets, fostering innovation. AFME emphasizes fair cost allocation and highlights concerns about data monopolies and exploitation.

Financial crime compliance utilizes strategies to curb illicit finances. Key tactics include strict customer identification, transaction monitoring, risk assessment, and employing AI for fraud detection. Continual employee education and robust reporting systems are also crucial.

The EU reached an agreement on new bank capital rules, including regulations for crypto assets. It aims to prevent unsupported cryptocurrencies in the financial system and strengthens banks. The agreement includes changes to risk assessment for loans and a transitional regime for crypto assets.

The AFME approves the CSDR agreement, emphasizing buy-ins as a last resort. They aim to improve settlement discipline and efficiency in Europe, evaluating settlement cycle reduction.