Despite August being the height of the holiday season, central bankers at the ECB have found the time to issue a newsletter calling on banks supervised under the Single Supervisory Mechanism to step up their Brexit preparations.
Planned measures, and likely outcomes for the banking, insurance, and financial services sectors in the absence of trade agreements.
Identifying additional challenges for KYC and terrorist finance prevention in non-face-to-face / online channels.
The updated FAQs are primarily aimed at UK based financial institutions re-locating in the context of Brexit but may also impact others.
Reported valuations of cryptocurrencies and digital assets are on the rise. With cryptocurrency investors entering into unsecured and/or secured financing, the risks attached to this trend are noteworthy.