Europe

PEPs & Sanctions

EU Imposes Seventh Round of Sanctions on Myanmar

By Editors | 25/07/2023

The EU imposed sanctions on six individuals and one entity for “continuing escalation of violence” and human rights violations.

Climate Risk

EBA Initiates Consultation on Climate Risk Data Collection

By Editors | 24/07/2023

EBA initiates climate data consultation with EU banks for Fit-for-55 climate risk analysis in collaboration with ESAs, ECB, and ESRB.

Cryptocurrency

UK Rejects Proposal to Regulate Crypto as Gambling

By Mark Johnston | 21/07/2023

The UK government and Treasury have rejected a parliamentary committee’s suggestion to regulate crypto trading and investment as gambling.

Anti-Money Laundering

BaFin Appoints Special Monitor to Oversee AML Improvements at N26

By Mark Johnston | 21/07/2023

BaFin fined N26 in 2021 but says it still has deficiencies. N26 will be restricted to onboarding no more than 50,000 new customers per month until the deficiencies are resolved.

PEPs & Sanctions

Western Allies Announce New Sanctions to Deter Russia

By Manesh Samtani | 21/07/2023

US sanctions include Russian metal producers and financial institutions. Canada targeted Russia’s military-industrial complex. UK, Australia and EU also have new targets.

Capital Adequacy

European Parliament Advances ESG Update to Solvency II

By ESG Investor | 21/07/2023

The position to update Solvency II includes provisions for transition planning aligned to CSRD and explicit integration of ESG risks into insurers’ risk management processes.

ESG Data

EBA to Collect Ad Hoc ESG Data for Risk Monitoring

By Ranamita Chakraborty | 20/07/2023

By analysing and reviewing the ESG data, the European Banking Authority (EBA) along with European central banks and financial regulators will be able to monitor ESG risks more effectively.

Structural Regulation

Shanghai, Shenzhen Bourses Tighten Rules on GDR Listings

By Manesh Samtani | 20/07/2023

The new rules are aimed at preventing Chinese investors participating in GDR offerings from exploiting home market price differences.

Anti-Money Laundering

US Fed Fines Deutsche Bank for Slow Remediation of AML Deficiencies

By Editors | 20/07/2023

The Fed Board said Deutsche Bank made “insufficient remedial progress” under 2015 and 2017 consent orders and still has deficient AML internal controls and governance processes.