Europe

Western leaders have committed to removing "selected Russian banks" from the SWIFT financial messaging system to harm their ability to operate globally.

The proposal requires companies, including certain non-EU companies, to address negative human rights and environmental impacts in their supply chains.

The US is targeting all ten of Russia’s largest financial institutions. Russian access to most major markets has been restricted.

The draft proposes requirements for VASPs relating to corporate governance, tax reporting, data storage, internal controls, risk management, client identification/KYC and segregation of assets.

Sanctions are being imposed against Russian state-owned banks, officials, oligarchs, and new debt issued by the central bank, sovereign wealth fund or government.

The data unearthed evidence that Credit Suisse accounts were used by clients involved in torture, drug trafficking, money laundering, corruption and other serious crimes.

Three people were arrested on suspicion of attempting to defraud HMRC using 250 fake companies. This is the first time a UK agency has seized NFTs.

Tony Freeman explains why European banks are unlikely to move away from clearing trades through London absent a regulatory mandate.

Investors and companies are urging the European Commission to adopt supply chain scrutiny rules “without further delay”.

CryptoUK says the approach would create an "unnecessary burden" for crypto investors and create tax compliance confusion.