Regulations Roundup: October 2018

With October upon us it’s time to pick-up where we left off and check out the latest rules, events and updates for the finance sector in our Regulations Roundup. As a leading content marketing agency working with top financial services brands we know how important it is to stay well-informed. So we’ve done some of the hard work for you! Here it goes…

Regulations Roundup for October 2018

Global standard for cryptocurrency anti-money laundering to be agreed

Let’s kick off this edition of regulations roundup with some crypto. Governing cryptocurrencies has proven to be rather tricky but progress is slowly being made. The global anti-money laundering task force is coming closer to establishing a universal set of standards which will be applied to cryptocurrencies. At the Financial Action Task Force’s (FATF) plenary later this month, a series of standards will be agreed to close the anti-money laundering ‘gaps’ faced by nations across the world. The G20 previously requested that this matter be dealt with as a matter of urgency. So this month the FATF will decide which of its standards need to be updated and addressed in order to cover virtual assets.

Actionable top tip: Keep your finger on the pulse. Significant changes are in the pipeline and therefore it’s essential to follow all the latest. Particularly on news platforms and social sites like Twitter where news tends to break.

China continues crypto clampdown

According to recent reports, China’s share of global cryptocurrency transactions has dropped from 90% to less than 5%; however, China is determined to keep a close eye on offshore exchanges by monitoring offshore servers of 124 platforms.

With that being said, China’s oldest media publication Beijing Sci-Tech Reporter (BSTR) is going against the grain by offering subscriptions payable with Bitcoin. The aim of the magazine is to promote blockchain by showcasing the practicalities of digital assets.

According to Chinese cryptocurrency news commentator cnLedger, the publication is not breaking the law.

Actionable top tip: Know your target audience. If you’re attracting Chinese investors it’s crucial to be aware of the regulations in place and how the government is closely scrutinizing crypto-related activity.

France takes a step in regulating and approving ICOs

France has implemented big changes regarding ICO compliance. A new regulation now means that all ICOs are required to submit details of their offering to the Authorit des Marchs Financiers (AMF) who can then approve and issue consent as appropriate. AMF’s goal is to eliminate bad players from the ICO industry and protect investors.

Actionable top tip: Following the implementation of a new ICO regulation in France, other countries may follow suit.  It all comes down to staying informed and remaining compliant.

October’s Top Finance Events:

4th International Compliance Forum – 5th October 2018

As the regulatory framework governing the finance sector continues to evolve, compliance teams are facing a challenging time.

The 4th International Compliance Forum will take place on 5th October 2018 at the Hilton Park Hotel in Nicosia in Cyprus and is designed to tackle a number of significant compliance issues and topics head on. The event will welcome a number of high-profile speakers including Director of the Group Compliance Division Bank of Cyprus, Marios M. Skandalis, and William Brian Howarth, President of the International Compliance Association (ICA), UK.

Actionable top tip: Attend the event in person or at the very least watch out for post-forum updates. The compliance forum is a forward-thinking initiative tailored to those working in the area and will inevitably provide an array of useful insights and practical tips.

Bloomberg Invest London – 10-11 October 2018

Bloomberg Invest London is designed to help institutional investors make profitable decisions in 2018 and beyond by utilising Bloomberg’s analysis and news resources. The Bloomberg Invest summit will gather industry leaders to discuss significant topics from cryptocurrencies to technological advancements. Key speakers will include William Hobbs, Head of Investment Strategy for Barclays and former Shadow Chancellor, Ed Balls.

Actionable top tip: Request to attend and use this summit as a networking opportunity and a chance to learn more about the finance sector. If you can’t make it on either day, again keep an eye out for reports and feedback.


Did you enjoy our regulations roundup? If you did then be sure to share it with you finance connections. If you’re looking for financial services marketing from a company that’s on-the-ball with regulation updates,  speak to the Contentworks crew today.

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