Europe

AML / KYC

Small German Bank Suspected of Helping Iran Evade Sanctions – Report

By Editors | 13/02/2024

BaFin has been investigating Hamburg-based Varengold Bank since last year, while APAS has been investigating its independent auditor, PwC.

Social Media Posts May Breach Market Abuse Rules: ESMA

By Mark Johnston | 09/02/2024

ESMA has warned social media users that they might be breaching the EU’s Market Abuse Regulation by posting investment recommendations online.

Market Infrastructure

EU Agrees on ‘Active Account’ Requirement to Boost EU CCPs

By Editors | 08/02/2024

The active account requirement is aimed at reducing the EU’s heavy reliance on London for clearing euro derivatives.

AML / KYC

ESMA Withdrawal of Recognition for Dubai CCP Takes Effect

By Editors | 07/02/2024

Dubai Commodities Clearing Corporation’s appeal of ESMA’s withdrawal decision has been dismissed.

ESG / Sustainability

EU Agrees Regulatory Approach for ESG Rating Providers

By Sanday Chongo Kabange | 07/02/2024

ESG rating providers will need to be authorised and supervised by the ESMA and comply with transparency requirements.

ESG / Sustainability

UK Environment Agency Launches Economic Crime Unit

By Editors | 06/02/2024

The unit will boost the Environment Agency’s efforts to tackle money laundering and carry out financial investigations in the waste sector.

Sanctions

Iran Reported to Have Used UK Banks for Sanctions Evasion

By Editors | 06/02/2024

Iran allegedly used front companies in the UK to conceal real ownership and receive funds at accounts at two of the UK’s largest banks.

Fintech / Regtech

EU to Ramp Up Monitoring of BigTech Financial Services

By Manesh Samtani | 05/02/2024

The provision of financial services by BigTechs does not yet pose a financial stability risk, but policy action may be required as these activities continue to grow.

Sanctions

Oil Price Cap Coalition Issues Alert on Evasion Methods

By Editors | 04/02/2024

The alert includes an overview of key oil price cap evasion methods as well as recommendations for identifying them.