Europe

Credit Risk

FINMA Launches Enforcement Proceedings Against Julius Baer

By Nithya Subramanian | 06/02/2025

The action is related to control failures that forced the bank to write down significant exposures to a collapsed real estate conglomerate.

Anti-Money Laundering

Turkish Money Launderer Arrested in Montenegro After Singapore Deportation

By Nithya Subramanian | 06/02/2025

Vang Shuiming was arrested in Montenegro for orchestrating illegal online betting platforms targeting Chinese citizens

AI Risk & Governance

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.

Anti-Bribery & Corruption

Swiss Court Convicts Trafigura and Senior Exec for Bribery

By Nithya Subramanian | 04/02/2025

This is the first time Switzerland’s Federal Criminal Court has ruled on a company’s liability for bribing of a foreign official.

PEPs & 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.

Clearing & Post-Trade

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.

Structural Regulation

FCA Issues First Fine for Reporting Failures Under UK MiFIR

By Thisanka Siripala | 03/02/2025

Infinox was found to have relied on a single individual to manually identify reportable financial instruments without adequate checks or scrutiny.

Trading & Investment

HSBC to Wind Down Investment Banking Operations in Europe, US

By Nithya Subramanian | 02/02/2025

The bank said in an internal memo that it will retain more focused M&A and equity capital markets capabilities in Asia and the Middle East

Clearing & Post-Trade

UK Confirms 11 October 2027 Target Date for Adoption of T+1

By Nithya Subramanian | 02/02/2025

Andrew Douglas, Chairman of the UK Accelerated Settlement Taskforce, said the UK, EU and Switzerland are now aiming for the same implementation date