Europe

Capital / Liquidity

EU Adopts Final Basel III Rules, Confirms Jan 2025 Roll-Out

By Manesh Samtani | 31/05/2024

Earlier this week, an ECB official said Basel III should be delayed in the EU if the US is too slow to adopt its own reform plan.

Enforcement

ECB Set to Impose First Fines Over Climate Risk – Report

By Editors | 31/05/2024

As many as four banks are said to be already accruing daily fines, though mitigating factors could be taken into account.

AML / KYC

Switzerland Fines UBS for Yemen-Linked AML Failures

By Editors | 31/05/2024

The bank failed to perform its due diligence obligations and to report suspicious transactions linked to Yemen’s former president.

ESG / Sustainability

European Energy Exchange Establishes Japanese Subsidiary

By Editors | 31/05/2024

EEX said the subsidiary will help it reinforce its presence and strengthen ties with the local trading community and authorities.

AML / KYC

European Council Adopts New AML Regulatory Package

By Nithya Subramanian | 31/05/2024

This is the final step of the adoption procedure. The texts will now be published in the EU’s Official Journal and enter into force.

Sanctions

HSBC Completes Sale of Russian Unit to Expobank

By Editors | 30/05/2024

The deal received approval in February but it has taken until now for the sale to be successfully concluded.

Fintech / Regtech

EU Commission Establishes Artificial Intelligence Office

By Editors | 30/05/2024

The new Office is preparing guidelines on AI system definitions and prohibitions, and preparing to draw up codes of practice for general-purpose AI models.

Big Picture

ESMA Issues Recommendations for More Effective Capital Market

By Mark Johnston | 28/05/2024

ESMA outlines 20 recommendations aimed at strengthening the capital markets within the EU to better serve citizens and businesses.

Sanctions

EU Adopts New Human Rights Sanctions Regime for Russia

By Editors | 28/05/2024

The European Council has concurrently listed one entity and 19 natural persons under the new regime.