Regulations
International Authorities
FINANCIAL MARKETS
Not Applicable
AML/CTF
The Palermo Convention (2000) and the Mérida Convention (2003) set global standards against organised crime and corruption.
INTERNATIONAL SANCTIONS
UN Security Council Resolutions impose sanctions (e.g. North Korea, Iran, terrorism), transposed by member states.
United States
FINANCIAL MARKETS
The Securities Act (1933) and the Exchange Act (1934) regulate markets and securities offerings
The Dodd-Frank Act (2010) strengthens transparency and supervision.
The Digital Asset Clarity Act: categorises digital assets blockchain-based digital assets (Bitcoin, Ethereum, etc.), tokens (ICOs, etc.) which remain under SEC jurisdiction, and stablecoins.
The GENIUS Act: regulation for stablecoins.
AML/CTF
The Bank Secrecy Act (1970) imposes due diligence and reporting obligations (SAR, CTR)
The USA PATRIOT Act (2001) reinforces the AML/CTF framework.
INTERNATIONAL SANCTIONS
OFAC Sanctions Programs (Treasury) enforce economic and financial sanctions determined by the government.
European Union
FINANCIAL MARKETS
MiFID II harmonises transparency and investor protection
MAR governs market abuse
The Listing Act simplifies listing rules for companies while maintaining transparency, investor protection, and market integrity it also addresses restrictions on the issuance of multiple-vote shares
The Benchmark Regulation (BMR) governs the provision of benchmarks, contributions to benchmarks, and their use
MiCA regulates crypto-assets
CRR III / CRD VI set prudential requirements
AIFMD II & UCITS IV regulate alternative investment funds and OPCVM
PRIIPs standardises pre-contractual information for packaged financial products (ETFs, derivatives, life insurance products, etc.) offered to retail investors
OPCVM V defines the role and liability of OPCVM depositaries.
AML/CTF
AMLD6: the 6th Anti-Money Laundering Directive
Regulation (EU) 2024/1924: harmonised requirements for supervised entities.
INTERNATIONAL SANCTIONS
European sanctions regulations apply directly and require Member States to enforce them.
france
FINANCIAL MARKETS
The Monetary and Financial Code and the AMF General Regulation govern market regulation.
AML/CTF
The Monetary and Financial Code imposes AML/CFT due diligence, reinforced by European directives;
TRACFIN centralizes reports (via ERMES)
INTERNATIONAL SANCTIONS
European texts (sanctions regulations) are transposed and enforced by the Treasury Directorate.
luxembourg
FINANCIAL MARKETS
The Law of April 5, 1993 regulates the financial sector and the CSSF; it transposes European directives.
AML/CTF
The Law of November 12, 2004 imposes AML/CFT obligations and assigns supervision to the CRF.
INTERNATIONAL SANCTIONS
European sanctions regulations are directly applied by Luxembourg.
United Kingdom
FINANCIAL MARKETS
The Financial Services and Markets Act (FSMA, 2000) is the main legal framework for financial regulation.
The Senior Managers and Certification Regime (SMCR) strengthens individual accountability within financial institutions and their executives.
AML/CTF
The Money Laundering Regulations (MLR) transpose European directives;
The Sanctions and Anti-Money Laundering Act (SAMLA) provides the post-Brexit AML/CFT framework.
INTERNATIONAL SANCTIONS
SAMLA (2018) grants the OFSI the power to implement both autonomous sanctions and UN sanctions.
Switzerland
FINANCIAL MARKETS
The Financial Market Supervision Act (LFINMA) provides the market supervision framework;
The Banking Act and LBVM regulate banks and stock exchanges.
AML/CTF
LBA, 1997, AMLA requires financial institutions to report any suspicious transactions to the MROS.
INTERNATIONAL SANCTIONS
Federal ordinances implement UN and EU sanctions under the supervision of the SECO.
canada
FINANCIAL MARKETS
The Bank Act regulates banks;
Provincial Securities Acts regulate financial markets (e.g., Ontario Securities Act)
AML/CTF
The PCMLTFA (2000) requires AML/CFT reporting through FINTRAC.
INTERNATIONAL SANCTIONS
SEMA and the Justice for Victims of Corrupt Foreign Officials Act (Magnitsky Act) establish the national sanctions framework
japan
FINANCIAL MARKETS
The Financial Instruments and Exchange Act (FIEA) regulates financial markets;
The Banking Act supervises banks.
AML/CTF
The Act on Prevention of Transfer of Criminal Proceeds (2007) establishes the AML/CFT framework, implemented by JAFIC.
INTERNATIONAL SANCTIONS
The FEFTA (Foreign Exchange and Foreign Trade Act) establishes the economic sanctions implemented by Japan.
australia
FINANCIAL MARKETS
The Corporations Act (2001) and ASIC Act (2001) regulate markets and intermediaries;
APRA supervises banking stability.
AML/CTF
The AML/CTF Act (2006) sets reporting and due diligence obligations through AUSTRAC.
INTERNATIONAL SANCTIONS
The Autonomous Sanctions Act (2011) and the Charter of the United Nations Act enable the implementation of both autonomous and UN sanctions.
International authorities
Not Applicable
The Palermo Convention (2000) and the Merida Convention (2003) establish global standards against organized crime and corruption.
UN Security Council resolutions impose sanctions (e.g., North Korea, Iran, terrorism), which are transposed by Member States.
United-States
The Bank Secrecy Act (1970) imposes due diligence and reporting obligations (SAR, CTR);
The USA PATRIOT Act (2001) strengthens the AML/CFT framework.
OFAC Sanctions Programs (Treasury) enforce economic and financial sanctions decided by the government.
European Union
MiFID II harmonises transparency and investor protection
MAR governs market abuse
The Listing Act simplifies listing rules for companies while maintaining transparency, investor protection, and market integrity it also addresses restrictions on the issuance of multiple-vote shares
The Benchmark Regulation (BMR) governs the provision of benchmarks, contributions to benchmarks, and their use
MiCA regulates crypto-assets
CRR III / CRD VI set prudential requirements
AIFMD II & UCITS IV regulate alternative investment funds and OPCVM
PRIIPs standardises pre-contractual information for packaged financial products (ETFs, derivatives, life insurance products, etc.) offered to retail investors
OPCVM V defines the role and liability of OPCVM depositaries.
AMLD6: the 6th Anti-Money Laundering Directive
Regulation (EU) 2024/1924: harmonised requirements for supervised entities.
European sanctions regulations apply directly and require Member States to enforce them.
France
The Monetary and Financial Code and the AMF General Regulation govern market regulation.
The Monetary and Financial Code imposes AML/CFT due diligence, reinforced by European directives;
TRACFIN centralizes reports (via ERMES)
European texts (sanctions regulations) are transposed and enforced by the Treasury Directorate.
Luxembourg
The Law of April 5, 1993 regulates the financial sector and the CSSF; it transposes European directives.
The Law of November 12, 2004 imposes AML/CFT obligations and assigns supervision to the CRF.
European sanctions regulations are directly applied by Luxembourg.
United Kingdom
The Financial Services and Markets Act (FSMA, 2000) is the main legal framework for financial regulation.
The Senior Managers and Certification Regime (SMCR) strengthens individual accountability within financial institutions and their executives.
The Money Laundering Regulations (MLR) transpose European directives;
The Sanctions and Anti-Money Laundering Act (SAMLA) provides the post-Brexit AML/CFT framework.
SAMLA (2018) grants the OFSI the power to implement both autonomous sanctions and UN sanctions.
Switzerland
The Financial Market Supervision Act (LFINMA) provides the market supervision framework;
The Banking Act and LBVM regulate banks and stock exchanges.
LBA, 1997, AMLA requires financial institutions to report any suspicious transactions to the MROS.
Federal ordinances implement UN and EU sanctions under the supervision of the SECO.
Canada
The Bank Act regulates banks;
Provincial Securities Acts regulate financial markets (e.g., Ontario Securities Act)
The PCMLTFA (2000) requires AML/CFT reporting through FINTRAC.
SEMA and the Justice for Victims of Corrupt Foreign Officials Act (Magnitsky Act) establish the national sanctions framework
japan
The Financial Instruments and Exchange Act (FIEA) regulates financial markets;
The Banking Act supervises banks.
The Act on Prevention of Transfer of Criminal Proceeds (2007) establishes the AML/CFT framework, implemented by JAFIC.
The FEFTA (Foreign Exchange and Foreign Trade Act) establishes the economic sanctions implemented by Japan.
AUSTRALIa
The Corporations Act (2001) and ASIC Act (2001) regulate markets and intermediaries;
APRA supervises banking stability.
The AML/CTF Act (2006) sets reporting and due diligence obligations through AUSTRAC.
The Autonomous Sanctions Act (2011) and the Charter of the United Nations Act enable the implementation of both autonomous and UN sanctions.
