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FATF publishes report on Money Laundering through the physical transportation of cash

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FATF today published a report on Money Laundering through the physical transportation of cash. This joint FATF / Middle East & North Africa Financial Action Task Force (MENAFATF) report highlights that cash remains an important means of payment across the globe, with an estimated USD 4 trillion in various currencies in circulation. This, despite the …

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ESMA Guidelines on complex debt instruments and structured deposits in MiFID II

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The European Securities and Markets Authority has published today the Final Report on guidelines on complex debt instruments and structured deposits. These guidelines are intended to enhance investor protection by identifying complex financial instruments and structured deposits for which the provision of so-called execution-only services is not possible (ie the firm has to ask information …

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HM Treasury publishes consultation results on ISAs for investment based crowdfunding

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HM Treasury has published the results of its consultation on whether to include investment based crowdfunding in ISAs. The response to the consultation summarises the comments received and sets out the government’s decisions on how to proceed. This includes the decision to extend the list of qualifying investments for the new Innovative Finance ISA to …

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ESMA publishes accounting enforcement decisions on IFRS financial statements

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The European Securities and Markets Authority (ESMA) has published an extract from its confidential database of enforcement decisions on financial statements. The extract includes a selection of 10 decisions that were taken by national enforcers in the period from February 2014 to May 2015. ESMA is publishing extracts from its confidential database of enforcement decisions …

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CFTC Unanimously Approves Proposed Rule on Automated Trading

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The U.S. Commodity Futures Trading Commission (Commission) today unanimously approved proposed rules that mark a comprehensive regulatory response to the evolution of automated trading on U.S. designated contract markets (DCMs). The proposed rules, known collectively as Regulation Automated Trading or Regulation AT, represent a series of risk controls, transparency measures, and other safeguards to enhance …

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ESMA will not exempt the collateralisation of bank guarantees for energy derivatives under EMIR

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The European Securities and Markets Authority (ESMA) has decided not to further extend the existing grace period of three years for the non-financial firms’ use of non-collateralised bank guarantees to cover transactions in energy derivatives cleared by European central counterparties (CCPs). ESMA therefore reminds firms concerned that from 15 March 2016 CCPs authorised under the …

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ESMA consults on the validation and review of CRAs’ methodologies

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The European Securities and Markets Authority (ESMA) has published its Discussion Paper (DP) on the validation and review of Credit Rating Agencies’ (CRAs) methodologies. The DP provides background on validation practices in the credit rating industry, shares good practice observed by ESMA in its recent supervisory investigation in validation and seeks stakeholders’ views on the …

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MiFID – The origins

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MiFID is the Markets in Financial Instruments Directive (Directive 2004/39/EC). In force since November 2007, this directive governs the provision of investment services in financial instruments by banks and investment firms and the operation of traditional stock exchanges and alternative trading venues. The directive provides through its implementation in national law harmonised regulation for investment services …

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An Introduction to AML – Part 2: Methods of Money Laundering

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Money laundering can take several forms, although most methods can be categorized into one of a few types. These include “bank methods, smurfing (also known as structuring), currency exchanges, and double-invoicing”. Structuring: Often known as smurfing, this is a method of placement whereby cash is broken into smaller deposits of money, used to defeat suspicion …

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An Introduction to AML

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It is said that the term “Money Laundering” has its origin in the practice of mafia groups in the 1920s in America of using laundromats as facades for criminal appearances. The mob acquired these launderettes so that they would have a means of giving a legitimate appearance of assets derived from criminal activities, declaring the …

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FATF publishes report on Money Laundering through the physical transportation of cash

ESMA Guidelines on complex debt instruments and structured deposits in MiFID II

HM Treasury publishes consultation results on ISAs for investment based crowdfunding

ESMA publishes accounting enforcement decisions on IFRS financial statements

CFTC Unanimously Approves Proposed Rule on Automated Trading

ESMA will not exempt the collateralisation of bank guarantees for energy derivatives under EMIR

ESMA consults on the validation and review of CRAs’ methodologies

MiFID – The origins

An Introduction to AML – Part 2: Methods of Money Laundering

An Introduction to AML

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