International

Fintech / Regtech

First Set of Rules Under the EU AI Act Enter into Force

By Nithya Subramanian | 04/02/2025

The rules cover key definitions, AI literacy requirements, and a limited set of prohibited AI use cases deemed to pose unacceptable risks.

ESG / Sustainability

GFANZ Hits Pause on Crucial Transition, Nature Guidance

By ESG Investor | 04/02/2025

The pause is part of a restructuring effort announced in December amid mounting pressure from the anti-ESG movement in the US.

Sanctions

Russia Used US Banks to Send Billions to Turkey – Report

By Editors | 03/02/2025

$5bn was funnelled in 2022 using a nuclear power plant project as cover to evade sanctions. A further $2bn is still frozen at JPMorgan.

Sanctions

EU Circulates Draft Proposal for 16th Russia Sanctions Package

By Editors | 03/02/2025

The proposed package targets more regional banks, shadow-fleet vessels, and non-Russia companies that facilitate sanctions circumvention.

Market Infrastructure

EU Extends Equivalence for UK CCPs for Three Years

By Mark Johnston | 03/02/2025

The extension will ensure financial stability and provide clarity to EU market participants, the European Commission said.

Sanctions

US Uses Sanctions Law to Impose Tariffs on Canada, Mexico, China

By Manesh Samtani | 03/02/2025

Canada and Mexico will impose retaliatory tariffs against the US. China also said it would take “countermeasures”.

Securities / Derivatives

FMSB Publishes Standard for Sharing Standard Settlement Instructions

By Manesh Samtani | 02/02/2025

The Standard aims to address operational risks caused by incorrect or missing SSIs, one of the biggest causes of settlement fails.

AML / KYC

UK Sentence Operators of Website that Enabled Account Takeover Fraud

By Thisanka Siripala | 02/02/2025

The operators provided tools including a “spoof call bot”, a ‘free text to speech’ service, and pre-scripted calls specifically designed to target customers.

Sanctions

ING, Goldman Advance Efforts to Sell Russian Subsidiaries

By Editors | 01/02/2025

ING expects to complete the sale of its operations in Russia in Q3. The sale of Goldman’s Russia unit received presidential approval.