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C.R.E.A.M. Finance Becomes First DeFi Protocol To Support Euro-Pegged Tether (EURt) Tokens Amid Surge In Demand

Date 22/07/2021

C.R.E.A.M. Finance, a decentralized lending protocol, has today announced that it will be the first protocol in the decentralized finance (DeFi) space to offer a euro-backed stablecoin with the addition of Tether tokens pegged to the euro (EURt).

UK Financial Conduct Authority Charges Simon Day With One Offence Of Money Laundering

Date 22/07/2021

Following a joint investigation by the Financial Conduct Authority and City of London Police, the FCA has charged Simon Day with one offence of money laundering, contrary to Section 327(1) of the Proceeds of Crime Act.

365.Bank Taps Backbase And Mambu To Power Its Digital Reinvention - 365.Bank To Leverage Backbase’s Engagement Banking Platform And Mambu’s Flexible Cloud-Native Banking Platform To Pivot To Digital-First Banking

Date 22/07/2021

365.bank today announces that it has selected Engagement Banking technology provider Backbase in conjunction with Mambu, the SaaS banking platform, to power its digital transformation. The collaboration will see 365.bank leveraging Backbase and Mambu’s combined technology offering to strategically transform from “mobile first” to full service and omnichannel bank. 

The Bank Of England: July 2021 Resolution Publications

Date 22/07/2021

The Bank of England has today published a statement from Dave Ramsden, which accompanies two Resolution publications: a Consultation Paper reviewing the Bank’s approach to setting a minimum requirement for own funds and eligible liabilities (MREL); and an Operational Guide on executing bail-in.

Valereum Blockchain Plc New Director Joins Valereum - Patrick L. Young - Global Stock Exchange And Blockchain Expert

Date 22/07/2021

Valereum Blockchain Plc (AQSE: VLRM), (“Valereum”) the uniquely positioned Gibraltar based blockchain technology builder, is pleased to announce that Mr Patrick Lyle Young has joined the Company’s board of directors with immediate effect, as executive director.

Banks Fear Unlevel Playing Field Over SA-CCR Implementation - Acuiti Study Finds Capital Costs For Corporates, Pension Funds And Some Asset Managers Set To Soar Under New Derivatives Capital Rules

Date 22/07/2021

Over 80% of senior derivatives executives from global banks are concerned that differing approaches to the implementation of SA-CCR will create an unlevel playing field, a study by Acuiti has found.

The European Banking Authority Publishes A Methodological Guide To Mystery Shopping

Date 22/07/2021

• The guide sets out how mystery shopping (MS) activities can be carried out in real life and aims to support National Competent Authorities (NCAs) in their design and implementation.
• Mystery shopping allows NCAs to obtain greater insight into the conduct of financial institutions, which in turn allows them to take corrective actions to better comply with applicable requirements, thus eventually enhancing the protection of consumers.
• This publication is the EBA’s next step in the fulfillment of its new mandate to coordinate MS activities of NCAs.

Comment From Wayne Johnson, CEO, Encompass Corporation, On New EU AML Rules Which Will Ensure Full Traceability Of Crypto Transfers

Date 22/07/2021

Responding to the news that new EU AML rules will ensure full traceability of crypto transfers., Wayne Johnson, CEO, Encompass Corporation commented:

“The emergence and adoption of cryptocurrency and blockchain technology has created a new scenario for regulators. Essentially, we are facing a payments technology that transcends country borders and is not subject to rules and, in turn, this has bred a plethora of issues pertaining to untraceable money laundering."

ACER And CEER Publish White Paper On Rules To Prevent Methane Leakage In The Energy Sector

Date 22/07/2021

Today, the EU Agency for the Cooperation of Energy Regulators (ACER) and the Council of European Energy Regulators (CEER) publish their joint White Paper on Rules to Prevent Methane Leakage in the Energy Sector. The paper, one of a series of ACER-CEER “European Green Deal” Regulatory White Papers, is the outcome of a survey of National Regulatory Authorities.

LCH Appoints Rohit Verma As Head Of Asia Pacific

Date 22/07/2021

• Responsible for LCH’s operations and growth in Asia Pacific
• Brings 20 years’ experience in derivatives markets to the role