Crypto-asset firms are increasingly focused on the impact of MiCA on their businesses both from the perspective of high-level strategy and in relation to changes to their day-to-day compliance arrangements. MiCA represents a...more
This Note is the second part of our look at regulatory expectations for sanctions compliance in the U.K. The first part of our review looked at Financial Conduct Authority (“FCA”) systems and controls requirements. The focus...more
11/22/2023
/ Due Diligence ,
Economic Sanctions ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Fund Transfers ,
Money Laundering ,
National Crime Agency (NCA) ,
Office of Financial Sanctions Implementation (OFSI) ,
Risk Assessment ,
Terrorism Funding ,
UK
The PRA and FCA have announced that the U.K. will be removing the bonus cap for individuals working in U.K. banks.
The U.K.’s remuneration rules for the banking and financial services sector were introduced in the wake of...more
Enforcement and legal risks relating to sanctions compliance remain high and all firms should continue to exercise care in meeting regulatory expectations. The promulgation of new sanctions relating to Russia has slowed but...more
The UK Government has successfully positioned the UK as a FinTech and Crypto-friendly jurisdiction. At the same time, in a post-Brexit world, UK regulation of the crypto sector has lagged behind developments in the EU where...more
2/3/2023
/ AML/CFT ,
Anti-Money Laundering ,
Cryptoassets ,
Cryptocurrency ,
Financial Conduct Authority (FCA) ,
Financial Services and Markets Act ,
FinTech ,
FSMA ,
Stablecoins ,
UK ,
UK Brexit