Europe

Fintech / Regtech

US, EU, UK Sign Legally-binding International Treaty on AI

By Manesh Samtani | 08/09/2024

The international treaty aims to promote innovation while protecting human rights, democracy and the rule of law.

Enforcement

German Court Orders Former Wirecard Execs to Pay Damages

By Editors | 06/09/2024

The court found that three executives should be held personally liable for granting €100mn in loans without due diligence or collateral.

Fintech / Regtech

UK Proposes to Lower Limit for APP Fraud Reimbursements

By Nithya Subramanian | 06/09/2024

The PSR has proposed to revise its December 2023 plan to reduce the reimbursement limit from GBP 415,000 to GBP 85,000.

Capital / Liquidity

UK PRA Orders HSBC to Review Data and Risk Practices – Report

By Nithya Subramanian | 05/09/2024

The regulator will reportedly require an independent expert review to evaluate four areas: model risk, risk data quality, traded risk, and credit risk.

ESG / Sustainability

Chinese Issuers Increasingly Adopting CGT in Green Bond Issuances

By Manesh Samtani | 04/09/2024

As of 31 July, 325 green bonds aligned with the China-EU Common Ground Taxonomy have been issued in China’s interbank market.

Sanctions

UK Suspends 30 Export Licences to Israel Over Humanitarian Concerns

By Editors | 03/09/2024

30 of 350 export licences to Israel were suspended due to a “clear risk” that items might be used to violate international humanitarian law.

Sanctions

UK Imposes Sanctions on Iranians for ‘Destabilising’ Activities

By Editors | 03/09/2024

One entity and three individuals were sanctioned for supporting activities intended to the UK and other countries.

Sanctions

EU Asked to Impose Stronger Measures Against Sanctions Circumvention

By Editors | 02/09/2024

Josep Borrell also calls for stronger measures to prevent sanctions circumvention by EU companies, citing rising exports to “some states which are close to Russia”.

Enforcement

UK Jails Members of Chinese Money Laundering Group

By Editors | 31/08/2024

A 12-year jail sentence was handed to the head of the group, which sold British pounds to UK university students to circumvent China’s foreign currency controls.