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Europe
Sanctions
UK Introduces New Legislation to Expand Russia Sanctions
By Editors | 18/12/2023
The package targets exports of military goods to Russia and the import of Russian metals. New reporting obligations also introduced to improve sanctions compliance.
Enforcement
EU Leaders Agree on 12th Russia Sanctions Package
By Editors | 18/12/2023
The package includes additional import and export bans and measures to better enforce the oil price cap. Agreement also reached on criminalisation of sanctions violations.
ESG / Sustainability
ESMA Plans Scrutiny on ESG Disclosure Under BMR
By ESG Investor | 18/12/2023
ESMA will assess compliance with ESG disclosure rules under the BMR to enhance comparability of information provided to users of benchmarks.
ESG / Sustainability
Finance’s CSDDD Exclusion a “Missed Opportunity” on Human Rights
By ESG Investor | 16/12/2023
FIs will not be initially subject to EU due diligence directive despite benchmarks showing poor sector performance in addressing risks in supply chain.
Sanctions
UK Inaugurates New Iran Sanctions Regime with Joint UK-US Action
By Editors | 16/12/2023
US and UK governments announce joint sanctions against eight individuals as UK’s new Iran sanctions regulations come into force.
AML / KYC
EU Lawmakers Reach Agreement on AMLA Establishment
By Editors | 14/12/2023
Co-rapporteur Eva Maria Poptcheva said the new Anti-Money Laundering Authority will be a “game changer to crack down on dirty money in the EU”.
Sanctions
US and UK Announce New Round of Sanctions on Hamas Leadership
By Editors | 14/12/2023
The coordinated US and UK asset freezes and travel bans target Hamas leaders and financiers throughout the Middle East.
Capital / Liquidity
UK Releases Policy Statement on Basel III Implementation
By Editors | 13/12/2023
The statement covers the standards for market risk, CVA risk, counterparty credit risk, and operational risk. A second release in Q2 2024 will cover the remaining elements.
Enforcement
UK to Launch New Unit to Investigate Trade Sanctions Violations
By Editors | 12/12/2023
The Office of Trade Sanctions Implementation is expected to begin its civil enforcement activities sometime in early 2024, the UK government says.
Sanctions
EU Expands Sanctions on Myanmar Junta and Supporters
By Editors | 12/12/2023
EU imposes asset freezes on four individuals and two companies in latest action against Myanmar’s military-led government.
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