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EU ministers baulk at banking reform

EU finance ministers on Thursday again dampened expectations on completing major banking reforms in Europe, with big divisions between Germany and Italy on how to move forward. "We must never lose hope. I don't hide from you that it's a difficult negotiation," French Finance Minister Bruno...

Regulatory fines in Malta skyrocketed in 2020

The Malta Financial Services Authority (MFSA) has significantly increased its intervention on the financial services industry. According to the regulator’s annual report, it carried out 52 enforcement actions in the 12-month period, resulting in a total of €975,462 in fines. This is a large rise compared to...

Malta decision on FATF grey-listing fate expected for 23 June

Malta yesterday endured a review of its anti-money laundering rules and protocols by the Financial Action Task Force (FATF), after tough weeks of questioning by international assessors. The FATF’s International Co-operation Review Group (ICRG) analysed Malta’s anti-money laundering rules after its recent Moneyval assessment. Based upon...

Who is a PEP? Financial intelligence unit lists all government roles

The Financial Intelligence Analysis Unit has published a list of all government jobs whose authority and control on vast amounts of money and influence, qualifies them as political exposed persons (PEPs) The list, drawn up on advice of the National Co-ordinating Committee on Combating Money Laundering...

ECB confirms supportive monetary policy stance

On June 10, the Governing Council of the European Central Bank decided to confirm its very accommodative monetary policy stance.   The interest rate on the main refinancing operations (MRO) and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at...

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