Europe

Sanctions

Switzerland Opens First Russia Sanctions-related Criminal Probe

By Editors | 13/03/2024

The company being probed is understood to be a commodity trading firm that used a UAE subsidiary to circumvent Swiss sanctions against Russia.

Enforcement

Italy: UniCredit, NTT Data Fined Over 2018 Data Breach

By Editors | 13/03/2024

UniCredit failed to adopt technical and security measures capable of effectively countering cyberattacks, the Italian Data Protection Authority said.

EU to Streamline Reporting Obligations for Financial Sector

By Editors | 12/03/2024

MEPs voted to adopt new rules to streamline reporting obligations and reduce the administrative burden for the EU’s financial sector.

Market Infrastructure

EU Sets Out Roadmap to Achieve Capital Markets Union

By Editors | 12/03/2024

The roadmap includes measures to harmonise stock exchange listing requirements, reduce listing costs, and make equity and bond financing more attractive.

AML / KYC

HM Treasury Consults to Ways to Enhance AML/CFT Regime

By Nithya Subramanian | 12/03/2024

The consultation seeks views on ways to make CDD checks more proportionate and effective, and how to ensure information sharing and collaboration gateways are open and useful.

AML / KYC

Swiss Authorities Convict BSI Bank for Money Laundering

By Nithya Subramanian | 12/03/2024

Switerland’s Office of the Attorney General has imposed a fine of CHF 4.5 million for violations between August 2010 and June 2014.

Crypto / Digital Assets

UK FCA to Allow Recognised Exchanges to Offer Crypto ETNs

By Editors | 12/03/2024

The London Stock Exchange has already confirmed it will start accepting applications for Bitcoin and Ethereum ETNs in Q2 2024.

Fintech / Regtech

BOE to Move Data & Analytics Platform to the Cloud

By Editors | 11/03/2024

The move is part of a modernisation programme that will also involve a “controlled set of pilots” of AI tools across the BOE.

Sanctions

EU States Step Up Efforts to Prevent Sanctions Circumvention

By Editors | 11/03/2024

Cases in Finland, Lithuania, Austria, Germany and Georgia show the pervasive the issue is, as well as signs that a deeper crackdown is underway.