Europe

ESG / Sustainability

UK Issues Long-awaited Green Taxonomy Consultation

By ESG Investor | 19/11/2024

Interoperability with other taxonomies, such as the EU, has been identified as a priority in the consultation.

Sanctions

EU Parliament Calls for Tougher Sanctions on Russian ‘Ghost Fleet’

By Editors | 18/11/2024

The sanctions will target “all individual vessels as well as their owners, operators, managers, accounts, banks and insurance companies”.

Enforcement

FCA to Reshape ‘Name and Shame’ Policy After Backlash

By Nithya Subramanian | 17/11/2024

Revised proposals will include a more stringent public interest test and a longer notice period for firms.

Securities / Derivatives

LME Clear Announces Reforms Tripling Member Capital Requirements

By Editors | 15/11/2024

LME Clear said the proposal would better align member capital requirements with those of peer CCPs and reassure market stakeholders of its markets resilience.

ESG / Sustainability

EU-China CGT Expanded to Include Singapore-Asia Taxonomy

By Nithya Subramanian | 15/11/2024

The Multi-Jurisdiction Common Ground Taxonomy establishes a comparative framework of the sustainable finance taxonomies of China, the EU and Singapore.

Fintech / Regtech

EU Commission Seeks Input on AI Systems That Should be Banned

By Mark Johnston | 15/11/2024

The EU Commission’s AI Office is consulting on the AI system definition and the specific use cases that should be banned due to potential harm.

NatWest Blocks Messaging Apps on UK Work Devices

By Nithya Subramanian | 14/11/2024

NatWest Group has restricted access to ensure staff only use “approved channels” for business communications.

AML / KYC

UK FCA Fines Metro Bank for Transaction Monitoring Failures

By Nithya Subramanian | 14/11/2024

A data-feeding error meant 60 million transactions were not monitored by Metro Bank over a four-year period.

AML / KYC

OFAC Probes UBS for Russia Risk from Credit Suisse Takeover

By Editors | 13/11/2024

OFAC is reportedly seeking information from UBS about the Russian clients the bank took on when it bought Credit Suisse in March 2023.