Europe

ESG / Sustainability

UK to Introduce Bill Next Year to Regulate ESG Ratings

By Editors | 10/08/2024

The regime will help address a lack of transparency in ratings processes and help support the development of the sustainable finance sector.

AML / KYC

Cayman Islands: New Beneficial Ownership Regime Commences

By Editors | 09/08/2024

Beneficial ownership information will not yet be available to the public in light of the November 2022 ruling by the European Court of Justice.

Enforcement

Asset Manager H2O Avoids UK Fine by Agreeing to Repay Investors

By Editors | 09/08/2024

The FCA decided not to impose a fine despite “extremely serious” regulatory breaches that resulted in investors being trapped in funds since 2020.

AML / KYC

German Prosecutors Charge Two More Ex-Wirecard Execs

By Ranamita Chakraborty | 08/08/2024

The two executives allegedly breached their fiduciary duties by approving unsecured loans that were used to embezzle “several hundred million euros”.

AML / KYC

US, Germany Take Down Illicit Crypto Platform Cryptonator

By Editors | 08/08/2024

Cryptonator facilitated transactions worth USD 1.4 billion, including those linked to sanctioned entities and criminal marketplaces.

Crypto / Digital Assets

France Has Started Accepting Applications for MiCA Authorisation

By Ranamita Chakraborty | 07/08/2024

AMF said crypto firms already authorised to offer services in France have a transition period until 30 June 2026 to secure MiCA authorisation.

Enforcement

Switzerland Announces $152mn Penalty Order Against Glencore

By Editors | 06/08/2024

The penalty order resolves a four-year criminal investigation into Glencore by Swiss and Dutch authorities.

Sanctions

EBA Proposes New Reporting Requirements for Payments Firms

By Editors | 04/08/2024

PSPs would have to report on the share of instant transfers, both domestic and cross-border, that were rejected due to the application of sanctions.

Enforcement

UK SFO Charges Ex-Glencore Employees Over Bribery Scheme

By Editors | 03/08/2024

Five former Glencore employees are charged with conspiring to make corrupt payments to benefit the company’s oil operations in West Africa.