Compliance
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ASIC secures record $211m fines against CFD issuer and representatives
The regulator said the penalties were the highest ever secured in connection with an ASIC matter, and that the outcome would send a strong message of deterrence.
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Small mid-cap is EU’s new category that could reduce compliance burden, remove SME ‘cliff edge’
The agreement on certain Omnibus IV files creates a new small mid-cap (SMC) category extending SME regulatory simplification to more companies, amending GDPR, MiFID, and other key EU laws.
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Work on the N-ESRS accelerates, exposure drafts coming in July
The European Commission is advancing N-ESRS, which are the CSRD reporting requirements for non-EU companies.
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UK’s ICO urges smart device industry to ensure data privacy and protection
Key questions around informed consent, transparent privacy information, and people’s rights over their data have been addressed in the new guidance.
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ECB moved to rein in Revolut’s ‘self-guided missiles’ in Europe
Europe’s most valuable fintech was ordered to address ‘deficiencies’ in oversight amid a rapid product rollout.
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FCA to roll back climate reporting burden to save firms £20m
Under the new proposals, the rigid requirements introduced in 2021 to publish product-level disclosures aligned with the TCFD will be axed.
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FCA takes action against former fund manager for unauthorized activity
The announcement is the latest twist in a high-profile legal battle between the regulator and the fund manager, which started with the collapse of his previous company back in 2019.
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Danish FSA flags gaps in banks’ ESG credit risk management
To effectively address ESG-related credit risks, banks must strengthen governance, enhance risk assessments, and improve internal controls.