Europe

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    Fintech / Regtech

    AI Act Gets Final Approval from European Council

    By Nithya Subramanian | 22/05/2024

    The AI Act provides for increased transparency regarding the development and use of high-risk AI systems, while also encouraging innovation.

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    Sanctions

    Russia Seizes Assets of Deutsche Bank, Commerzbank, UniCredit

    By Editors | 22/05/2024

    The banks were among the guarantor lenders under a contract for the construction of a gas processing plant which was terminated due to sanctions.

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    Fintech / Regtech

    Top Tech firms Commit to AI Safety at Seoul Summit

    By Nithya Subramanian | 22/05/2024

    Google, Meta, Microsoft, OpenAI and others have pledged to not develop or deploy AI models if the risks cannot be sufficiently mitigated.

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    Sanctions

    Australia, UK Join Allies in Targeting DPRK-Russia Arms Trade

    By Editors | 18/05/2024

    Australia targeted six entities while the UK targeted three companies and one individual for their involvement in North Korea-Russia arms trade.

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    Fintech / Regtech

    StanChart Completes First EUR Transactions on Partior

    By Nithya Subramanian | 17/05/2024

    The bank completed the transactions between Hong Kong and Singapore involving Siemens and iFAST Financial.

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    ESG / Sustainability

    ESMA Issues Fund Naming Guidance to Combat Greenwashing

    By ESG Investor | 16/05/2024

    The guidelines establish harmonised criteria for the use of ESG and sustainability terms in fund names.

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    Sanctions

    OFAC Sanctions Four Targets Over Sanctions Evasion Scheme

    By Editors | 15/05/2024

    The targets were involved in a scheme to disguise the ownership of shares to facilitate divestment by a sanctioned Russian oligarch.

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    Securities / Derivatives

    FCA Offers Recommendations on Avoiding Surveillance Failures

    By Manesh Samtani | 14/05/2024

    The FCA says failures of market abuse surveillance are often caused by faulty implementation, bugs, and incomplete data ingestion.

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    Fintech / Regtech

    China, France Commit to Jointly Address AI Risks

    By Editors | 10/05/2024

    The two countries jointly commit to promoting safe, secure, and reliable AI systems for the “common good”.

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    Sanctions

    EU Ambassadors Agree on Use of Frozen Russian Assets

    By Editors | 10/05/2024

    90% of the interest generated from the frozen Russian state assets will be used for military aid for Ukraine.

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