Author Archives: ETE

On 22 January 2025, London Community Credit Union (LCCU) was placed into administration and has now stopped trading. James Sleight and Stratford Hamilton of PKF Littlejohn Advisory Limited have been appointed as joint administrators. LCCU is a financial co-operative owned by its members. It is regulated by the Prudential Regulation Authority (PRA) and the Financial […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today a statement reinforcing the position related to the offer of ARTs and EMTs (also known as stablecoins) in the EU under Market in Crypto Assets regulation (MiCA). The statement provides guidance on how and under which timeline CASPs are […]

The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) published today a report on the feasibility of further centralisation in the reporting of major ICT-related incidents by financial entities according to Article 21 of the Digital Operational Resilience Act (DORA). In line with the DORA mandate, the ESAs’ joint report explores the […]

The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) today published a Joint Report on recent developments in crypto-assets, analysing decentralised finance (DeFi) and crypto lending, borrowing and staking. This publication is the EBA and ESMA’s contribution to the European Commission’s report to the European Parliament and Council under Article 142 […]

The Financial Conduct Authority (FCA) has today opened further floor space at its existing base at 6 Queen Street, increasing it by an additional 5,000 square feet. First opened in 2022, the FCA’s regional office in Leeds is now a base for over 300 employees, with around 100 more people expected to be welcomed into […]

ASIC has appointed Scott Gregson as Chief Executive Officer. Mr Gregson will join ASIC on 17 March 2025 following a nearly 30 year career with the ACCC and takes over from ASIC’s retiring interim CEO Greg Yanco. ASIC Chair Joe Longo said Mr Gregson had stood out in an executive search of domestic and international […]

The European Securities and Markets Authority (ESMA), the EU financial markets regulator and supervisor, today publishes its seventh market report on the costs and performance of EU retail investment products, showing a decline in the costs of investing in key financial products. Despite this decline the cost levels of funds in the EU remain high […]

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published or updated the following Questions and Answers: Alternative Investment Fund Managers Directive (AIFMD) Permission of AIFMs to delegate portfolio or risk management to non-supervised undertakings established outside of the EU (2229) AIFMs safekeeping client money (2230) Central Securities Depositories Regulation (CSDR) […]

The FCA has fined Arian Financial LLP (Arian) £288,962.53 for failing to ensure it had effective systems and controls against financial crime. Arian’s failure to implement adequate systems and controls against financial crime put it at risk of being used to support fraudulent trading and money laundering on behalf of clients of the Solo Group. […]

The FCA has issued a Final Notice objecting to the proposed acquisition of Olampicaran Limited (Olampicaran) by Mr Ahmed. Mr Ahmed failed to notify and seek approval from the FCA, causing harm to the integrity of the UK payment services market. Mr Ahmed sought to acquire 100% control of Olampicaran, which was a small payments […]