Europe

A Russian and Lithuanian were sentenced to 16 and 17 years in prison, respectively, for laundering £70mn over four years.

The PRA said StanChart's internal controls and governance arrangements underpinning its regulatory reporting were not implemented or operating effectively.

The guidelines cover supervisory cooperation and risk-based supervision of banks. New draft RTS are published for a new EU-wide database known as EuReCa.

Under the proposed rules, the Stock Connect scheme will be expanded to allow participation from companies listed in Shenzhen, Switzerland and Germany.

Product-level disclosures to users can be limited for transitional period where proxies deemed insufficient.

Three key parts of HSBC’s automated transaction monitoring systems showed "serious weaknesses" between March 2010 to March 2018.

NatWest's accepted cash deposits worth around GBP 264 million. The case represents the first time the FCA has pursued criminal charges for money laundering failings.

Complexity of combining SFDR and Taxonomy-specific RTSs pushes implementation date back to 2023.

Much-postponed proposal now expected in December, following the unveiling of EU deforestation supply chain due diligence measures.

Once a political agreement is reached between the European Council and the European Parliament, the draft rules can become law.