Europe

Enforcement

No Criminal Misconduct Found in EY’s Wirecard Audits

By Editors | 17/04/2024

EY could have faced unlimited liability for claims of damages from Wirecard’s administrator and former shareholders if criminal misconduct was found.

AML / KYC

GLEIF Announces First European-based vLEI Issuer

By Editors | 17/04/2024

The vLEI is the cryptographically secure digital counterpart of a conventional LEI that can be used to automate business process.

ESG / Sustainability

ESG Requirements Could Hinder EU Banks’ Competitiveness – Report

By Nithya Subramanian | 16/04/2024

The EBF’s Denisa Avermaete said ESG buffers are problematic because they are an “exclusively European tool”.

Sanctions

G7 Considers Sanctions Response to Iran Attack on Israel

By Editors | 15/04/2024

The sanctions may involve designating Iran’s IRGC as a terrorist organisation, and specific sanctions against drone and missile programmes.

Sanctions

US and EU Announce New Sanctions Targeting Hamas

By Editors | 15/04/2024

The US targeted leaders of Hamas cyber and drone operations. The EU targeted three entities linked to human rights abuses.

Sanctions

EU Council Approves Law Criminalising Sanctions Violations

By Editors | 14/04/2024

It will be a criminal offence in all member states to help someone bypass a travel ban  or trade in sanctioned goods.

Sanctions

LME, CME Barred from Accepting Three Key Russian Metals

By Editors | 12/04/2024

The LME and CME can no longer accept new aluminum, copper, and nickel produced by Russia. Existing stocks are exempt from the ban.

Crypto / Digital Assets

ESMA Examines Crypto Risks Ahead of MiCA Implementation

By Nithya Subramanian | 12/04/2024

ESMA warns of concentration risks and inadequate transparency, but says MiCA will help address such issues.

Market Infrastructure

UK FCA Proposes to Relax Research Unbundling Rules

By Nithya Subramanian | 12/04/2024

The FCA will allow bundling of payments for research and trade execution, making it easier for asset managers to buy research produced outside the UK.