Europe

Enforcement

UK FCA Fines Macquarie Unit £13m for Control Failures

By Mark Johnston | 28/11/2024

The FCA said serious control failures allowed a junior trader to conceal over 400 fictitious trades to hide trading losses.

Crypto / Digital Assets

UK FCA Unveils Plans for Crypto Regulation, Tokenisation

By Manesh Samtani | 28/11/2024

Several discussion papers and consultations will be issued between now and early 2026. The new crypto regime will go live within 2026.

Fintech / Regtech

UK Regulators Find Widespread Use of AI in Financial Sector

By Thisanka Siripala | 27/11/2024

75 percent of UK financial services firms already using AI in some capacity, but reliance on a small number of third-party providers raises concerns.

Sanctions

UK Targets Russian Shadow Fleet With New Sanctions Package

By Editors | 27/11/2024

The UK sanctioned 30 ships in Russia’s shadow fleet and 2 insurance companies for enabling them to generate oil revenues.

Enforcement

UK FCA Fines Barclays £40m Over 2008 Disclosure Failures

By Mark Johnston | 26/11/2024

The FCA said Barclays failed to disclose payments to Qatari entities that helped rescue the bank during the 2008 financial crisis.

AML / KYC

UK Government Pushes for Public Beneficial Ownership Registers

By Mark Johnston | 26/11/2024

The UK government has reaffirmed its commitment to establishing fully public beneficial ownership registers.

AML / KYC

Eurojust Establishes Judicial Focus Group to Combat Money Laundering

By Mark Johnston | 26/11/2024

Eurojust has launched a Judicial Focus Group to strengthen efforts against money laundering and improve asset recovery across the European Union.

Sanctions

UK Sanctions “Infamous Kleptocrats” to Start Anti-Corruption Campaign

By Editors | 25/11/2024

The FCDO said the sanctions mark “the start of a new campaign” to clamp down on corruption and illicit finance both at home and overseas.

Fintech / Regtech

EU Cyber Resilience Act Published in Official Journal

By Thisanka Siripala | 23/11/2024

Non-compliance can result in fines up to 2.5 percent of the offender’s total worldwide annual turnover for the preceding financial year.