Europe

PEPs & Sanctions

EU Adopts New Human Rights Sanctions Regime for Russia

By Editors | 28/05/2024

The European Council has concurrently listed one entity and 19 natural persons under the new regime.

Anti-Money Laundering

Woman Jailed in UK in Bitcoin Laundering Case

By Mark Johnston | 27/05/2024

At sentencing on Friday, the judge said Jian Wen ought to have known that she was dealing with criminal property.

Conduct, Culture & Accountability

FCA Fines HSBC for Failures in Treatment of Customers

By Editors | 24/05/2024

The bank was fined GBP 6.3 million, on top of investing GBP 94 million to correct the issues and paying redress worth GBP 185 million.

Clearing & Post-Trade

SIX and Korea Securities Depository Announce New MoU

By Mark Johnston | 23/05/2024

The collaboration, facilitated through SIX’s subsidiary SIX SIS, aims to enhance securities depository and settlement services.

Trading & Investment

UK Regulators Fine Citi Over Trader’s Mistake, Control Failings

By Editors | 22/05/2024

A trader inadvertently placed sell orders worth $444bn instead of $58 million. Citi’s electronic trading system generated additional erroneous orders.

Market Abuse

LIBOR Convictions to be Raised With UK Supreme Court

By Editors | 22/05/2024

The Court of Appeal opened the door for Tom Hayes and Carlo Palombo to directly apply to the Supreme Court for permission to appeal their convictions.

AI Risk & Governance

AI Act Gets Final Approval from European Council

By Nithya Subramanian | 22/05/2024

The AI Act provides for increased transparency regarding the development and use of high-risk AI systems, while also encouraging innovation.

PEPs & Sanctions

Russia Seizes Assets of Deutsche Bank, Commerzbank, UniCredit

By Editors | 22/05/2024

The banks were among the guarantor lenders under a contract for the construction of a gas processing plant which was terminated due to sanctions.

AI Risk & Governance

Top Tech firms Commit to AI Safety at Seoul Summit

By Nithya Subramanian | 22/05/2024

Google, Meta, Microsoft, OpenAI and others have pledged to not develop or deploy AI models if the risks cannot be sufficiently mitigated.