Europe

AML / KYC

French Prosecutors File Charges Against Telegram CEO

By Editors | 28/08/2024

A French court ruled that there were grounds to formally investigate Pavel Durov, releasing him on bail and ordering him to remain in France.

FCA Chair Accused of Breaching Whistleblower Confidentiality

By Editors | 26/08/2024

FCA chair Ashley Alder reportedly forwarded a whistleblower’s correspondence to other staff members, revealing their identity without their consent.

Enforcement

French Police Arrests Telegram Chief Executive Pavel Durov

By Editors | 26/08/2024

French authorities allege a lack of moderation on Telegram to prevent criminal use, and failure to cooperate with law enforcement in criminal cases.

Fintech / Regtech

Switzerland Introduces Instant Payments for Major Banks

By Ranamita Chakraborty | 26/08/2024

The SNB and SIX said instant payments will likely form the basis for further innovation in payment transactions moving forward.

ESG / Sustainability

High-emitting Companies Charged Higher Rates by Banks

By ESG Investor | 22/08/2024

Heavy carbon emitters are increasingly subject to higher interest rates from banks, according to research from the ECB and DNB.

Enforcement

UK FCA Fines PwC for Failing to Report Fraud Suspicions

By Mark Johnston | 20/08/2024

This is the FCA’s first-ever fine against an auditor, imposed because PwC failed to report fraud suspicions to the regulator.

AML / KYC

Lithuania Intensifying Crackdown on Sanctions Evasion Activities

By Editors | 19/08/2024

Over 50 investigations relating to sanctions breaches have been opened in Lithuania. Rulings in several cases have already been issued.

Fintech / Regtech

Getting Your Ducks in a Row for APAC Rules Rewrites

By Priya Kundamal | 19/08/2024

DTCC’s Priya Kundamal discusses the lessons learned from markets that have implemented the first phase of changes to derivatives reporting rules.

Sanctions

UK OFSI Issues Additional Guidance on Russia Sanctions

By Editors | 19/08/2024

Among other things, the new FAQs clarify that non-sanctioned Russian nationals and companies in the UK are allowed to open or maintain UK bank accounts.