Europe

Anti-Bribery & Corruption

FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees

By Editors | 03/12/2022

Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.

Cybersecurity

EU’s Digital Operational Resilience Act Wins Final Approval

By Manesh Samtani | 01/12/2022

All financial entities and the third parties that provide them ICT-related services will have to adhere to DORA requirements from around the end of 2024.

Capital Adequacy

BOE Confirms Planned Approach to Basel III Implementation

By Manesh Samtani | 30/11/2022

The BOE says its approach is consistent with the “vast majority” of major financial jurisdictions, with “appropriate but limited” adjustments for the UK market.

Fraud, Scams & Cybercrime

UK Crypto Fraud Increased 32pc Over One Year Period

By Editors | 30/11/2022

UK police unit Action Fraud said crypto-related fraud losses from October 2021 to September 2022 amounted to $270mn.

PEPs & Sanctions

EU to Gain Legal Authority to Punish Sanctions Circumvention

By Editors | 30/11/2022

The move will make it easier for EU authorities to take action against anyone who helps Russia avoid its sanctions.

Capital Adequacy

ECB to Impose Capital Charges for Leveraged Finance Risk – Report

By Editors | 29/11/2022

The ECB is reportedly planning to impose higher capital requirements on banks to address risk in their leveraged finance businesses.

KYC & CDD

EU States Start Closing Access to Beneficial Owners Registers

By Manesh Samtani | 28/11/2022

Luxembourg, Netherlands, Belgium, Austria and Malta have closed public access to their beneficial ownership registers following an EU Court of Justice ruling.

Fraud, Scams & Cybercrime

Authorities from Ten Countries Take Down Spoofing Website

By Editors | 28/11/2022

Europol says the website offered services that enabled fraudsters to impersonate companies including banks to access sensitive information from victims.

Reporting & Disclosures

UK, Singapore to Deepen Collaboration on FinTech, Sustainable Finance

By Editors | 26/11/2022

The UK and Singapore agreed to deepen cooperation on FinTech and sustainable finance, including to explore a global framework for regulating ESG ratings and data providers.