EUROPE

Enforcement

UK FCA Fines Barclays £40m Over 2008 Disclosure Failures

By Mark Johnston | 26/11/2024

The FCA said Barclays failed to disclose payments to Qatari entities that helped rescue the bank during the 2008 financial crisis.

AML / KYC

UK Government Pushes for Public Beneficial Ownership Registers

By Mark Johnston | 26/11/2024

The UK government has reaffirmed its commitment to establishing fully public beneficial ownership registers.

AML / KYC

Eurojust Establishes Judicial Focus Group to Combat Money Laundering

By Mark Johnston | 26/11/2024

Eurojust has launched a Judicial Focus Group to strengthen efforts against money laundering and improve asset recovery across the European Union.

Sanctions

UK Sanctions “Infamous Kleptocrats” to Start Anti-Corruption Campaign

By Editors | 25/11/2024

The FCDO said the sanctions mark “the start of a new campaign” to clamp down on corruption and illicit finance both at home and overseas.

Fintech / Regtech

EU Cyber Resilience Act Published in Official Journal

By Thisanka Siripala | 23/11/2024

Non-compliance can result in fines up to 2.5 percent of the offender’s total worldwide annual turnover for the preceding financial year.

Sanctions

Dutch Law Firm Found Facilitating Iranian Oil Sales – Report

By Editors | 23/11/2024

The Dutch law firm reportedly used a Surinamese subsidiary to set up companies to manage oil tankers that are part of Iran’s “ghost fleet”.

Capital / Liquidity

ECB Compares EU and US Capital Requirements for Banks

By Mark Johnston | 23/11/2024

The ECB hasn’t yet decided whether to publish its analysis, which reportedly shows that EU banks would face significantly higher capital requirements if they were subject to US rules.

Sanctions

UK Announces Sanctions Over Indoctrination of Ukrainian Children

By Editors | 21/11/2024

The FCDO said around 6,000 Ukrainian children have been relocated to a network of re-education camps where they are subjected to indoctrination.

Fintech / Regtech

EU and Singapore Strengthen Cooperation on AI Safety

By Nithya Subramanian | 21/11/2024

The US also launched the “International Network of AI Safety Institutes” to drive alignment and encourage safe, secure, and trustworthy AI innovation around the world.