Nov
23

The Updated FATF Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers.

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In 2019, the Financial Action Task Force ("FATF") adopted a Guidance for Risk-Based Approach to Virtual Assets ("VAs") and Virtual Asset Service Providers ("VASPs"). The purpose behind the Guidance was to help national authorities to comprehend and develop regulatory and supervisory responses to VAs activities or operations and VASPs, and to help private sector entities seeking to engage in VAs activities in comprehending their obligations with respect to anti-money laundering and countering the financing of terrorism ("AML/CFT") and how they can successfully comp...
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Nov
04

The Coming into Force of the Investment Firms Regulation and Directive

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The Investment Firms Regulation and Directive (the "IFR/D Package" ) became applicable on the 26 th of June 2021 , introducing a new prudential framework applicable to investment firms. Before the introduction of the new prudential framework, investment firms were subject to the Capital Requirements Regulation and the Capital Requirements Directive. Investment firms must note that certain small firms will still be subject to the Capital Requirements Regulation (" CRR "). Furthermore, investment firms will still be subject to MiFIR and MiFID II irrespective of the ...
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