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Sanctions
UK Ban on Providing Trust Services to Russia Takes Effect
By Editors | 22/12/2022
Professional services ban expanded from accounting, consulting and PR services to include trust, advertising, auditing, engineering and IT consultancy and design services.
Crypto / Digital Assets
ESMA Issues Guidelines for Operators of DLT Market Infrastructure
By Editors | 22/12/2022
The guidelines include templates firms can use to apply for permission to operate DLT market infrastructure under the EU’s DLT Pilot Regulation.
ESG / Sustainability
EU Lawmakers Agree on Enhancements to Carbon Market
By Editors | 22/12/2022
The agreement, which still needs formal endorsement, will accelerate the pace at which energy-intensive companies are obligated to reduce emissions.
Enforcement
UK Regulators Fine TSB Bank Over IT Upgrade Failures
By Editors | 22/12/2022
An IT system upgrade in April 2018 resulted in nearly 2 million TSB Bank customers being unable to access banking services.
Market Infrastructure
ESMA Publishes Final Guidelines, Validation Rules for EMIR Refit
By Editors | 22/12/2022
ESMA published its final guidelines for reporting under EMIR, the final validation rules, and reporting instructions for outgoing and incoming messages.
ECB Bars Officials from Making Short Term Trades
By Editors | 21/12/2022
High-level ECB officials can only invest in publicly listed, broadly diversified funds with a medium to long-term perspective.
Enforcement
Former German Tax Inspector Jailed Over Cum-Ex Tax Fraud
By Mark Johnston | 20/12/2022
Hanno Berger, considered a Cum-Ex mastermind, was sentenced to eight years in jail and ordered to repay EUR 13.7 million.
Market Infrastructure
EU Council Agrees to Implement Global Minimum Tax
By Editors | 19/12/2022
The 15% corporate minimum tax rate is expected to be transposed into EU wide rules by end-2023 and prompt other countries to speed up efforts to implement the measure.
Sanctions
US, EU Announce Additional Sanctions Against Russia
By Editors | 19/12/2022
The US imposed new sanctions against Russian FIs and the country’s richest businessmen. The European Council adopted a ninth sanctions package against Russia.
AML / KYC
Weak Environmental Crimes Law a Risk to Investors
By ESG Investor | 19/12/2022
European Council’s position on the revised Environmental Crime Directive will damage portfolios as well as the environment, says WWF.
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