Europe

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    Sanctions

    EU Ambassadors Agree on 14th Russia Sanctions Package

    By Editors | 22/06/2024

    The package includes sanctions on Russia’s LNG sector, the SPFS financial messaging system, and entities in third countries that allegedly helped Russia.

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    ESG / Sustainability

    UK FCA Opens First Climate-related Enforcement Investigation

    By ESG Investor | 21/06/2024

    The FCA revealed the existence of the enforcement investigation to environmental law charity ClientEarth in response to a Freedom of Information request.

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    Capital / Liquidity

    EU Confirms Decision to Postpone FRTB Implementation

    By Editors | 20/06/2024

    Commissioner Mairead McGuinness said postponing FRTB ensures a global level playing field for European banks that compete with global players.

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    Crypto / Digital Assets

    EBA Delivers Final Batch of MiCA Technical Standards

    By Manesh Samtani | 19/06/2024

    14 technical standards and 3 guidelines have been finalised and published, completing EBA’s delivery of technical standards under the MiCA regime.

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    AML / KYC

    HSBC Breached AML Obligations in Switzerland: FINMA

    By Manesh Samtani | 19/06/2024

    HSBC’s Swiss private banking unit is prohibited from onboarding new PEPs until an auditor has confirmed its compliance with FINMA’s orders.

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    Sanctions

    Sanctioned Russian Billionaire Files Lawsuit Against UBS – Reports

    By Editors | 19/06/2024

    Alisher Usmanov claims that STRs filed by UBS were “unsubstantiated, if not knowingly false” and triggered an illegal criminal investigation against him.

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    Sanctions

    G7 Leaders Issue Joint Sanctions Warning Against China

    By Editors | 17/06/2024

    The G7 vowed to take measures against actors in China that materially support Russia’s “war machine”, including FIs.

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    Sanctions

    EU Sanctions Package Delayed Over Verification Rule

    By Editors | 16/06/2024

    Germany fears that its exporters could be impacted by requirements to verify that customers are not transshipping goods to Russia.

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    Sanctions

    UK, Canada Announce New Russia Sanctions at G7 Summit

    By Editors | 14/06/2024

    The UK’s 50 targets include Moscow Exchange and five China-based entities. Canada’s sanctions target 11 individuals and 16 entities.

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    Sanctions

    G7 to Raise $50bn for Ukraine Using Frozen Russian Assets

    By Editors | 13/06/2024

    A $50bn loan will be taken out and the interest will be paid using profits generated by frozen Russian assets.

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