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Europe
AML / KYC
Germany to Establish New Agency to Fight Financial Crime
By Sanday Chongo Kabange | 02/04/2023
The ‘Federal Authority for Fighting Financial Crime” will absorb the functions of the FIU and also be responsible for enforcing international sanctions.
AML / KYC
UK Court Allows Wirecard-related Fraud Suit to Proceed
By Editors | 31/03/2023
An Indian business was sold to a Mauritius-based fund in 2015, weeks before Wirecard bought the company for a price ten times higher.
AML / KYC
UK Unveils New Plan to Tackle Economic Crime
By Sanday Chongo Kabange | 31/03/2023
The plan involves hiring 475 specialist investigators, investing in technology and data analytics, and establishing a new multi-agency crypto cell.
ESG / Sustainability
UK Consults on Regulatory Regime for ESG Ratings
By Editors | 31/03/2023
The consultation proposes to introduce legislation to amend and expand the FCA’s regulatory perimeter to include ESG ratings.
ESG / Sustainability
UK Aims to End Uncertainty on Fiduciary Duty
By ESG Investor | 30/03/2023
Green Finance Strategy outlines the government’s plans to align the finance sector with its net zero commitments.
Market Infrastructure
LME Group Unveils Plans to Strengthen Metals Markets
By Editors | 30/03/2023
The LME is making daily price limits permanent, revising its margin methodology, and developing a China-based spot market offering for Class II nickel products.
Market Infrastructure
South Korea Grants Clearstream QFI Status
By Editors | 30/03/2023
The QFI status will enable Clearstream to offer omnibus account services for Korea Treasury Bonds and Monetary Stabilisation Bonds.
Capital / Liquidity
UBS Plans to Run Credit Suisse Staff Through “Culture Filter”
By Editors | 30/03/2023
UBS chairman Colm Kelleher said the “culture filter” is needed to root out parts of Credit Suisse that had a “bad culture”.
AML / KYC
Credit Suisse Violated 2014 Plea Deal with US DOJ
By Manesh Samtani | 30/03/2023
UBS could be forced to pay US authorities $1.3bn – the amount Credit Suisse had discounted from its 2014 plea deal.
AML / KYC
Five Banks Searched in French Tax Fraud Probe
By Editors | 29/03/2023
Four major French banks and a foreign bank were targeted by simultaneous searches related to the so-called “Cum-Ex” tax scandal.
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