The head of Russia's lower house of the country’s parliament on Thursday said that crypto market regulations will be ready by June of this year and come into force on July 1, 2027, CoinDesk.com reported. Anatoly Aksakov, head of the State Duma Committee on Financial Markets, said that qualified and unqualified investors will be allowed to purchase cryptocurrencies although under separate rules, according to the Duma’s official news outlet. A cap will be in place on retail investors' crypto purchases with the figure of 300,000 rubles ($4,000) being discussed, he added.

A director of a payroll company who moved millions to a Montenegrin bank while his company was insolvent has been disqualified for seven years, BBC.com reported. The Insolvency Service said Paul Bresnihan, from Leicester-based CJS Engagement 2 Ltd, transferred €4.8m (£4.17m) to an account in Europe at a time when the company owed HMRC more than £32m. It said that Bresnihan "did not provide an explanation for the money transfers", and "has not co-operated" with attempts to recover the money.

The Original Factory Shop (TOFS) will this week become the latest retailer to call in administrators, putting about 1,200 jobs at risk, Sky News reported. The discount chain, which was already on the brink of collapse when it was bought by Modella Capital last year, is expected to appoint Interpath to handle its insolvency as soon as Wednesday afternoon. TOFS, which opened its first shop in the late 1960s, trades from approximately 130 stores. Read more.

Native Instruments is in preliminary insolvency proceedings, according to documentation reported by Create Digital Music. According to that report, a preliminary insolvency administrator has been appointed, who will take responsibility for restructuring the company and any sale of existing assets. The German music technology brand, known for era-defining products such as Maschine, Massive, Traktor and Kontakt, has been through numerous changes over the past decade.

German federal police have been searching the offices of Deutsche Bank in Frankfurt and Berlin since early Wednesday morning, with raids ordered by prosecutors in Frankfurt, Euronews.com reported. About 30 investigators reportedly entered the bank’s Frankfurt headquarters in plain clothes, according to Der Spiegel, which first reported the news. Another Deutsche Bank location in Berlin was also searched. Prosecutors say they are investigating unknown managers and employees of Deutsche Bank on suspicion of money laundering.

The U.K.'s Financial Conduct Authority on Tuesday launched a review into the impact of advanced artificial intelligence ​on retail financial markets and consumers, Reuters reported. The review, led by FCA ‌Executive Director Sheldon Mills, will look at how the evolution of AI could affect markets ‌and firms, including changes to competition and market structure, as well as the impact on consumers. Findings will go to the FCA board in mid‑2026. The regulator reiterated that it does not intend to introduce AI‑specific rules.

The U.K. Insolvency Service said that it is trying to refund £500,000 to customers who paid a fee for a debt relief order (DRO) but did not submit their application, according to a press release. Thousands of people are due a refund after the Government scrapped the £90 application fee for DROs in April 2024 to make things easier for those struggling with debt. A DRO is an alternative to bankruptcy, allowing people to make a fresh start if they have less than £50,000 of personal debt. Applications for DROs are made through authorised debt advisers or charities.