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A Tory student group has apologised after a video reportedly showed its members singing and dancing to a Nazi marching song.

The clip, taken at a chairman’s dinner at the University of Warwick Conservatives Association two weeks ago, shows people singing Erika – a song that was used by the armed forces of Nazi Germany.

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The Sunday Times, which obtained the footage, said it shows several members of the association dancing and laughing as the song plays on the sound system.

The footage ends after one member sees the camera and says: “Don’t film!”, according to the newspaper.

In a statement, the University of Warwick Conservatives Association said it “wholeheartedly condemns the behaviour exhibited during this video and apologises for any offence that has been caused”.

It said most of those in the video “were completely unaware of the origins and connotations of the song”, but the member who asked for the song to be played would no longer be welcome at its events.

The association said a person heard “actively singing lyrics” was not a member but “has been barred from future events along with others”.

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However, it rejected allegations of being a “toxic society” that “normalises racism”.

The association said its members have “consistently campaigned against antisemitism on campus, including campaigning to disaffiliate Warwick Student’s Union from the National Union of Students over its failure to deal with antisemitism”.

“Our members have also worked hard to ensure the Students Union commemorates Holocaust Memorial Day in a fitting way,” it added.

“We are proud of these efforts and will continue to stand against discrimination.”

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The Union of Jewish Students called the video “utterly abhorrent” and a “blatant and unchallenged support for Nazism”, as it called on the Tory Party to take action.

A spokesperson for the Conservative Party said the student group was not affiliated to it.

“There is no place for racism in the Conservative Party and we will always ensure appropriate action is taken against any member who acts in ways that are not in accordance with our values of tolerance and respect,” the spokesperson added.

A spokesperson for Warwick University said: “We have been made aware of this video and the allegations surrounding it, which are extremely troubling.

“Behaviour like this is reprehensible and we are disappointed to see our students involved.

“The university is reviewing the material disclosed to us via our reporting service and has notified the Student’s Union.

“We have requested a meeting with the Jewish Society to assist with our review.”

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Millionaire former Tory donor defects to Reform

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Millionaire former Tory donor defects to Reform

Millionaire Tory donor Malcolm Offord has defected to Reform UK, saying he would be campaigning “tirelessly” to “remove this rotten SNP government”.

Nigel Farage announced the former Conservative life peer’s defection during a rally in the Scottish town of Falkirk, where regular anti-immigration protests have taken place outside the Cladhan Hotel – which is being used to house asylum seekers.

Mr Farage, Reform UK’s leader, said he was “delighted” to welcome Greenock-born Lord Offord to Reform, describing his defection as “a brave and historic act”.

He added: “He will take Reform UK Scotland to a new level.”

During a speech, Lord Offord, who previously donated nearly £150,000 to the Tories, said he would be quitting the Conservative Party and giving up his place in the House of Lords as he prepares to campaign for a seat in Holyrood in May.

The 61-year-old said he wanted to restore Scotland to a “prosperous, happy, healthy country”.

“Scotland needs Reform and Reform is coming to Scotland,” he told the rally.

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“Today I can announce that I am resigning from the Conservative Party. Today I am joining Reform UK and today I announce my intention to stand for Reform in the Holyrood election in May next year.

“And that means that from today, for the next five months, day and night, I shall be campaigning with all of you tirelessly for two objectives.

“The first objective is to remove this rotten SNP government after 18 years, and the second is to present a positive vision for Scotland inside the UK, to restore Scotland to being a prosperous, proud, healthy and happy country.”

The latest defection comes as Mr Farage finds himself at the centre of allegations of racism dating back to his time in school.

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Claims made against Nigel Farage

Sky News reported on Saturday that a former schoolfriend of Mr Farage claimed he sang antisemitic songs to Jewish schoolmates – and had a “big issue with anyone called Patel”.

Jean-Pierre Lihou, 61, was initially friends with the Reform UK leader when he arrived at Dulwich College in the 1970s, at the time when Mr Farage is accused of saying antisemitic and other racist remarks by more than a dozen pupils.

Mr Farage has said he “never directly racially abused anybody” at Dulwich and said there is a “strong political element” to the allegations coming out 49 years later.

Reform’s deputy leader Richard Tice has called the ex-classmates “liars”.

A Reform UK spokesman accused Sky News of “scraping the barrel” and being “desperate to stop us winning the next election”.

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‘European SEC’ proposal sparks licensing concerns, institutional ambitions

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‘European SEC’ proposal sparks licensing concerns, institutional ambitions

The European Commission’s proposal to expand the powers of the European Securities and Markets Authority (ESMA) is raising concerns about the centralization of the bloc’s licensing regime, despite signaling deeper institutional ambitions for its capital markets structure.

On Thursday, the Commission published a package proposing to “direct supervisory competences” for key pieces of market infrastructure, including crypto-asset service providers (CASPs), trading venues and central counterparties to ESMA, Cointelegraph reported.

Concerningly, the ESMA’s jurisdiction would extend to both the supervision and licensing of all European crypto and financial technology (fintech) firms, potentially leading to slower licensing regimes and hindering startup development, according to Faustine Fleuret, head of public affairs at decentralized lending protocol Morpho.

“I am even more concerned that the proposal makes ESMA responsible for both the authorisation and the supervision of CASPs, not only the supervision,” she told Cointelegraph.

The proposal still requires approval from the European Parliament and the Council, which are currently under negotiation. 

If adopted, ESMA’s role in overseeing EU capital markets would more closely resemble the centralized framework of the US Securities and Exchange Commission, a concept first proposed by European Central Bank (ECB) President Christine Lagarde in 2023.

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EU plan to centralize licensing under ESMA creates crypto and fintech slowdown concerns

The proposal to “centralize” this oversight under a single regulatory body seeks to address the differences in national supervisory practices and uneven licensing regimes, but risks slowing down overall crypto industry development, Elisenda Fabrega, general counsel at Brickken asset tokenization platform, told Cointelegraph.

“Without adequate resources, this mandate may become unmanageable, leading to delays or overly cautious assessments that could disproportionately affect smaller or innovative firms.”

“Ultimately, the effectiveness of this reform will depend less on its legal form and more on its institutional execution,” including ESMA’s operational capacity, independence and cooperation “channels” with member states, she said.

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Global stock market value by country. Source: Visual Capitalist

The broader package aims to boost wealth creation for EU citizens by making the bloc’s capital markets more competitive with those of the US.

The US stock market is worth approximately $62 trillion, or 48% of the global equity market, while the EU stock market’s cumulative value sits around $11 trillion, representing 9% of the global share, according to data from Visual Capitalist.

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