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AML / KYC
Canada, Switzerland Sanction More Russians, EU Considers 9th Package
By Manesh Samtani | 19/10/2022
The next round of EU sanctions could include limits on LPG imports, more restrictions against Russian banks, and a ban on the sale of European real estate to Russians.
Capital / Liquidity
EU Regulators to Assess Bank Dividend Plans ‘Case-by-Case’
By Editors | 17/10/2022
Steven Maijoor, who serves on the ECB’s supervisory board, said regulators are asking banks to be restrained with dividends and share buybacks.
ESG / Sustainability
EU Council Gives Green Light to Board Gender Rules
By ESG Investor | 17/10/2022
The European Council has approved EU rules to ensure a more balanced gender representation on corporate boards.
AML / KYC
FCA Fines UK Challenger Bank for Weak AML Controls
By Editors | 17/10/2022
Gatehouse Bank failed to perform appropriate checks on customers based in high-risk countries and customers that were classified as PEPs.
AML / KYC
Glencore Facing Investor Lawsuits Following Bribery Conviction
By Editors | 14/10/2022
Sovereign wealth funds from the UAE, Kuwait and Norway, along with Abrdn, HSBC, Standard Life and others are among the claimants.
AML / KYC
Switzerland to Commence Work on Creating UBO Register
By Editors | 14/10/2022
A bill will be drafted by mid 2023 to create a central beneficial ownership register that will be accessible to authorities.
Enforcement
SFC Fines Asset Manager Over European Rule Breaches
By Editors | 12/10/2022
ARCM failed to implement adequate systems and controls to monitor its short position and ensure it was properly reported and disclosed to the public.
Market Infrastructure
UK Court Allows Legal Actions Against LME to Proceed
By Editors | 12/10/2022
The LME says the decision to allow the Elliott and Jane Street cases to proceed is “entirely procedural” and “in no way a ruling on the merits” of the claims.
Fintech / Regtech
UK Regulators Launch Discussion Paper on AI Regulation
By Editors | 12/10/2022
The paper considers how current legal and regulatory requirements and guidance apply to the use of AI in UK financial services, and the gaps that may need to be addressed.
Market Infrastructure
EMIR Refit Technical Standards Published in Official Journal
By Editors | 12/10/2022
Under the standards, reporting of the CDE, LEIs, ISINs, UTIs and UPIs to trade repositories are mandated, in XML format using ISO 20022.
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