Europe

AML / KYC

Swiss Prosecutors Indict Ex-PetroSaudi Executives in 1MDB Case

By Editors | 26/04/2023

The two former executives were paid by Jho Low to set up a joint venture that was used to embezzle $1.8bn from 1MDB.

Crypto / Digital Assets

UK FCA to Develop New Financial Promotions for Crypto Industry

By Mark Johnston | 26/04/2023

FCA executive director Sarah Pritchard said the new regime will apply to all firms marketing cryptoassets to UK consumers, regardless of where they are based.

Market Infrastructure

Macau Exchange Signs Cooperative Agreement with LuxSE

By Editors | 25/04/2023

Under the agreement, MOX-listed securities can be admitted for listing and trading on LuxSE’s exchange-regulated market, the Euro MTF.

AML / KYC

US Official Details Sanctions Evasion Red Flags During European Visit

By Editors | 25/04/2023

Treasury official Brian Nelson met with European officials and FIs last week and shared details about emerging sanctions evasion typologies.

ESG / Sustainability

ECB Urges Banks to Improve Climate Risk Disclosures

By Sanday Chongo Kabange | 25/04/2023

The ECB is concerned that banks are not prepared for new climate and environmental risk disclosure standards that take effect mid-year.

Sanctions

UK, US, EU Announce Fresh Sanctions Against Iran

By Editors | 24/04/2023

US sanctions four senior Iranian law enforcement and military officials; EU sanctions eight Iranians and telco provider; UK sanctions four IRGC commanders.

ING Files Suit Against ICBC Over Losses on Copper Deals

By Editors | 24/04/2023

ICBC allegedly released export documents for copper deals without collecting payment, resulting in $170m in losses to ING, which was financing those deals.

ESG / Sustainability

Asian Asset Managers Lag Europe on ESG, says WWF-Singapore

By Mark Johnston | 23/04/2023

Only 38 percent of Asian asset managers reporting on responsible investing actions, compared with 100 percent of European asset managers.

Capital / Liquidity

Credit Suisse AT1 Bondholders File Suit Against FINMA

By Editors | 22/04/2023

Investors representing over $5bn of Credit Suisse AT1 bonds are seeking redress for the losses they suffered during the takeover by UBS.