EUROPE

Sanctions

EU, UK Target Iran Shipping, Aviation With New Sanctions

By Manesh Samtani | 20/11/2024

The sanctions aim to curb Iran’s ability to facilitate drone, missile, and military technology transfers to aid Russia in its war in Ukraine.

Fintech / Regtech

EU Publishes Draft Code of Practice for General-Purpose AI

By Thisanka Siripala | 20/11/2024

The draft Code of Practice sets out 22 measures for providers of general-purpose AI models, aiming to foster accountable and human-centric AI development.

Fintech / Regtech

BIS Launches GenAI Project to Improve ‘Inflation Nowcasting’

By Manesh Samtani | 20/11/2024

Project Spectrum will use GenAI to automatically categorise billions of individual product descriptions and price observations to improve inflation nowcasting.

S. Korea and Poland to Boost Cooperation on Banking

By Mark Johnston | 20/11/2024

About 370 Korean companies operate in Poland, but none are financial companies. The MOU will enable Korean banks to expand to Poland.

ESG / Sustainability

UK Publishes Draft Legislation to Regulate ESG Ratings Providers

By Nithya Subramanian | 19/11/2024

The regime will apply to UK-produced ESG ratings and overseas ratings made available to UK users through business relationships.

Market Infrastructure

ESMA Proposes 11 October 2027 for Migration to T+1 Settlement

By Manesh Samtani | 19/11/2024

ESMA says 11 October 2027 is the optimal date for the transition, and that it must be coordinated with other jurisdictions in Europe.

ESG / Sustainability

UK Issues Long-awaited Green Taxonomy Consultation

By ESG Investor | 19/11/2024

Interoperability with other taxonomies, such as the EU, has been identified as a priority in the consultation.

Sanctions

EU Parliament Calls for Tougher Sanctions on Russian ‘Ghost Fleet’

By Editors | 18/11/2024

The sanctions will target “all individual vessels as well as their owners, operators, managers, accounts, banks and insurance companies”.

Enforcement

FCA to Reshape ‘Name and Shame’ Policy After Backlash

By Nithya Subramanian | 17/11/2024

Revised proposals will include a more stringent public interest test and a longer notice period for firms.