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Financial Institutions Financial Transactions European Union

Hogan Lovells

Payments: European Court of Justice (ECJ) rules on PSP liability for unauthorised transactions and late PSU notification

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The ECJ has confirmed that a payment service user (PSU) is deprived of the right to reimbursement for an unauthorised transaction under PSD1 if: they fail to notify without undue delay upon becoming aware of it; or...more

DLA Piper

New EU Anti-Money Laundering Rules: What to Know

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The European Union this year finalized significant revisions to its rules countering money laundering and terrorist financing (the AML Package). In addition to strengthening the existing regulatory framework, the AML Package...more

The Volkov Law Group

European Council Officially Adopts New AML/CFT Package

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On May 30, 2024, following passage by the European Parliament in late April, the European Council officially adopted a set of rules that modernizes and harmonizes money laundering and terrorist financing (“AML/CFT”)...more

Skadden, Arps, Slate, Meagher & Flom LLP

EU Expands Restrictive Measures in 13th Russian Sanctions Package and Publishes Guidance

On 23 February 2024, the European Union (EU) adopted a 13th package of sanctions against Russia, imposing asset freezes on additional individuals and entities, expanding existing sectoral sanctions and further limiting...more

Alston & Bird

European Enforcement Guide

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In the current economic climate, it is important that lenders understand how they can enforce security and debt claims, to help in assessing options in the event of default by their customers, and when structuring new...more

Mayer Brown

EU Institutions Reach Political Agreements On Anti-Money Laundering and Countering the Financing of Terrorism Package

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On January 17, 2024, the Council of the European Union (Council) and the European Parliament (Parliament) announced that a political agreement had been reached on (i) a new Regulation setting forth a single anti-money...more

Cadwalader, Wickersham & Taft LLP

Welcome to 2024: CWT’s European Fund Finance Market Insights January 2024 - Cayman Moves Closer to a List-Free Summer!

The Cayman Islands recently received an early Holiday gift when the EU Commission published a regulation in mid-December paving the way to remove Cayman from its list of ‘high-risk’ countries for AML/CFT purposes. The...more

White & Case LLP

The Economic Impact of FATF Grey-Listing

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The Financial Action Task Force ("FATF") is the global standard-setter on anti-money laundering ("AML"), countering terrorist financing ("CFT") and counter proliferation financing. FATF's standards, also referred to as...more

Sullivan & Worcester

Finally — It's Almost Here ... Electronic Trade Documents Act 2023

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Jacqueline Cook, Of Counsel, and Larissa Head, Trainee Solicitor, sum up the key points of the Electronic Trade Documents Act 2023 (the Act) which will shortly receive Royal Assent and come into force two months later. ...more

A&O Shearman

US, EU And UK Increase Pressure on Russia with Further Sanctions

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Since late February 2022, the United States (U.S.), the European Union (EU) and its member states, the United Kingdom (U.K.), and many others—including Japan, Australia, New Zealand, Taiwan and Canada—have imposed sweeping...more

K2 Integrity

Sanctions Against Russia: The Week in Review - April 2022 - 2

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The Week in Review delivers the impact and analysis for the public, private, and non-profit sectors from our regular reporting of the evolving global sanctions campaign against Russia. This week, we reviewed the recent...more

White & Case LLP

EU expands financial sanctions against Belarus and adds Russia maritime equipment and capital market restrictions

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On 9 March, the EU added various new financial restrictions in relation to Belarus, including a SWIFT ban on three Belarusian banks. In relation to Russia, the EU added trade restrictions on maritime navigation equipment and...more

K2 Integrity

Sanctions Against Russia: The Week in Review

K2 Integrity on

The Week in Review delivers the impact and analysis for the public, private, and non-governmental sectors from our daily reporting of the evolving global sanctions campaign against Russia. This week, we reviewed the recent...more

Pillsbury - Global Trade & Sanctions Law

Making Sense of Sanctions Versus SWIFT Delisting

On February 27, 2022, the U.S., UK, and EU announced their agreement that certain Russian banks would be delisted from the Belgian-based Society for Worldwide Interbank Financial Telecommunication (SWIFT). ...more

White & Case LLP

EU de-SWIFTs seven Russian banks; prohibits investments with RDIF; restricts Euro banknotes to Russia and imposes media ban

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On 2 March 2022, the European Union (EU) adopted its fourth package of sanctions against Russia. It excluded seven Russian banks from SWIFT, in consultation with the UK, US and Canada. It also banned co-investments with the...more

White & Case LLP

US, EU and UK Designate Putin and Lavrov; US Expands Sanctions against Russia and Belarus; Switzerland Adopts Sanctions to Address...

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On 25 February 2022, the US, EU and UK imposed asset freeze restrictions/blocking sanctions on Russian President Vladimir Putin and Foreign Minister Sergei Victorovich Lavrov, and Switzerland adopted sanctions against Russia....more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: Changes to the EU Securitisation Regulations and the Capital Regulation Reference

As discussed in our previous Clients and Friends Memo (the “First Update”), on 24 July 2020 the European Commission (the “Commission”) published proposed amendments to the current securitisation framework set out in...more

Mayer Brown

Legal Update: regulatory technical standards on homogeneity for STS transactions published in official journal

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The EU has, on 6 November 2019, published in the Official Journal a delegated regulation (the “Delegated Regulation”) supplementing the EU Securitisation Regulation (the “Securitisation Regulation”) with regard to regulatory...more

Ballard Spahr LLP

The EU’s Efforts to Combat Money Laundering, the Financing of Terrorism and Corruption Seem to Overlook a Very American Approach:...

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The European Union (“EU”) recently has grappled with a series of massive money laundering scandals and strategized about how to more effectively combat international money laundering and corruption. Generally, the EU has...more

BCLP

What is Open Banking, and What are its Implications?

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This post is the first in a series discussing open banking, its implementations, and its implications. “Open banking” is a phrase that has been coined to capture a current theme in financial sector innovation – one that...more

Ballard Spahr LLP

Danske Bank CEO Resigns on Heels of Report Detailing an Astounding $234 Billion in Suspicious Transactions in Money Laundering...

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This week Danske Bank released a report detailing the results of its much anticipated internal investigation into allegations of money laundering perpetrated in its Estonian branch. ...more

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