Europe

Trading & Investment

UK Regulators Fine Citi Over Trader’s Mistake, Control Failings

By Editors | 22/05/2024

A trader inadvertently placed sell orders worth $444bn instead of $58 million. Citi’s electronic trading system generated additional erroneous orders.

Market Abuse

LIBOR Convictions to be Raised With UK Supreme Court

By Editors | 22/05/2024

The Court of Appeal opened the door for Tom Hayes and Carlo Palombo to directly apply to the Supreme Court for permission to appeal their convictions.

AI Risk & Governance

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.

PEPs & 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.

AI Risk & Governance

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.

PEPs & 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.

Payments & Settlements

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.

Reporting & Disclosures

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.

PEPs & 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.