Europe

Enforcement

UK CMA Orders HSBC to Remedy Breaches of Open Banking Rules

By Editors | 27/07/2024

The CMA said Lloyds, TSB and AIB also breached the open banking rules, but the breaches were less extensive and are being addressed.

Capital / Liquidity

EU Adopts Delegated Act to Postpone FRTB Implementation

By Manesh Samtani | 26/07/2024

FRTB will be postponed in the EU to “preserve the global level playing field” for internationally active European banks in respect of their trading activities.

Crypto / Digital Assets

UK FCA Fines Coinbase Unit for ‘Repeated’ Regulatory Breaches

By Editors | 26/07/2024

The Coinbase payments subsidiary provided payment services to more than 13,000 “high-risk” customers, despite being subject to restrictions imposed by the FCA.

AML / KYC

US, UK, South Korea Warn of DPRK Espionage Campaign

By Editors | 26/07/2024

Joint advisory says North Korean hacker group ‘Andariel’ is a threat to entities in the US, UK, South Korea, Japan and India.

Sanctions

UniCredit Drops Part of Appeal Against ECB’s Russia Exit Orders

By Editors | 25/07/2024

UniCredit said it has received “sufficient clarity” from the ECB on certain parts of its application to the GCEU.

Sanctions

ECB to Develop Framework for Geopolitical Risk Assessments

By Editors | 25/07/2024

The ECB is working to develop a framework that it can use to deal with the impacts of geopolitical risks such as sanctions on EU banks.

Fintech / Regtech

US, European Competition Regulators Sign AI Agreement

By Nithya Subramanian | 24/07/2024

Given the rapid growth of AI, authorities will work to ensure effective competition as well as fair and honest treatment of consumers and businesses.

Sanctions

UK Publishes Briefing on Third Countries Helping Russia

By Manesh Samtani | 22/07/2024

The briefing names Belarus, Iran, North Korea and China as the main countries providing military support to Russia.

Sanctions

UK Imposes Sanctions on 11 Russian ‘Shadow Fleet’ Vessels

By Editors | 21/07/2024

The measures are part of a joint “Call to Action” with European countries to disrupt the ‘shadow fleet’ of vessels Russia uses to circumvent oil sanctions.