Europe

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    Clearing & Post-Trade

    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.

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    Sustainable Finance

    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.

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    AI Risk & Governance

    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.

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    Conduct, Culture & Accountability

    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.

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    Anti-Money Laundering

    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.

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    PEPs & Sanctions

    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.

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    Anti-Money Laundering

    Spanish Police Chief Arrested Over Links to Criminal Gangs

    By Nithya Subramanian | 13/11/2024

    Óscar Sánchez Gil was until recently the head of the fraud and AML division of Spain’s national police force in Madrid.

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    Fraud, Scams & Cybercrime

    UK Issues Guidance on ‘Failure to Prevent Fraud’ Offence

    By Thisanka Siripala | 11/11/2024

    The guidance aims to help organisations implement a fraud prevention framework ahead of the ‘failure to prevent fraud’ offence coming into force on 1 September 2025.

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    Custody & Infrastructure

    UBS Pilots Digital Cash for Cross-Border Payments

    By Nithya Subramanian | 11/11/2024

    UBS Digital Cash is aimed at boosting efficiency, transparency, and liquidity management for corporate and institutional clients.

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    Capital Adequacy

    ECB May Impose Capital Charge on Banks With Excess Russia Exposure

    By Editors | 11/11/2024

    The ECB is considering adjusting capital requirements for Raiffeisen Bank International and UniCredit to account for Russia-related risks.

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