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Europe
Sanctions
EU Joins Allies in Targeting DPRK-Russia Arms Trade With Sanctions
By Editors | 03/06/2024
The EU announced sanctions against six individuals and three entities for sanctions evasion and providing military support to Russia.
Sanctions
US, EU Announces Sanctions Targeting Iran Drone Programme
By Editors | 03/06/2024
The action aims to “disrupt Iran’s production and proliferation of deadly UAVs that continue to be used by Russia against Ukraine and by regional terrorist proxies.”
Fintech / Regtech
ESMA Issues Guidance on Use of AI by Investment Firms
By Nithya Subramanian | 03/06/2024
The guidance focuses on the organisational, conduct of business, and best interest requirements under MiFID II.
Crypto / Digital Assets
UK Sees Launch of First Six Crypto ETN Products
By Editors | 31/05/2024
21Shares and WisdomTree launched a total six ETNs on the LSE, which are fully backed by physical holdings of Bitcoin or Ethereum.
Capital / Liquidity
EU Adopts Final Basel III Rules, Confirms Jan 2025 Roll-Out
By Manesh Samtani | 31/05/2024
Earlier this week, an ECB official said Basel III should be delayed in the EU if the US is too slow to adopt its own reform plan.
Enforcement
ECB Set to Impose First Fines Over Climate Risk – Report
By Editors | 31/05/2024
As many as four banks are said to be already accruing daily fines, though mitigating factors could be taken into account.
AML / KYC
Switzerland Fines UBS for Yemen-Linked AML Failures
By Editors | 31/05/2024
The bank failed to perform its due diligence obligations and to report suspicious transactions linked to Yemen’s former president.
ESG / Sustainability
European Energy Exchange Establishes Japanese Subsidiary
By Editors | 31/05/2024
EEX said the subsidiary will help it reinforce its presence and strengthen ties with the local trading community and authorities.
AML / KYC
European Council Adopts New AML Regulatory Package
By Nithya Subramanian | 31/05/2024
This is the final step of the adoption procedure. The texts will now be published in the EU’s Official Journal and enter into force.
Sanctions
HSBC Completes Sale of Russian Unit to Expobank
By Editors | 30/05/2024
The deal received approval in February but it has taken until now for the sale to be successfully concluded.
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