BaFin Identifies Anti-Money Laundering Deficiencies at Helaba
BaFin has identified deficiencies in Helaba’s AML procedures, urging the bank to improve its customer due‑diligence and monitoring processes.
Regulation
Irish Alumina Plant Faces Regulatory Scrutiny Over Links to Sanctioned Russian Oligarch
The Aughinish Alumina plant in Ireland, tied to Oleg Deripaska, is under increased regulatory scrutiny due to EU sanctions against the Russian oligarch, prompting fears among locals about the future of jobs at the facility.
Bank of England Approves HSBC Orion for Digital Securities Sandbox Programme
HSBC’s Orion unit received approval from the Bank of England to join the Digital Securities Sandbox, paving the way for a pilot digital gilt transaction slated for early 2027.
German Regulator BaFin to Examine Dermapharm Transactions With Reppegather Brothers Over Million-Euro Claim
BaFin is set to review Dermapharm’s dealings with the Reppegather brothers after a claim of roughly one million euros and alleged breaches of accounting rules were reported, posing a problem for pharma billionaire Beier.
ESMA Registers 14 New Crypto-Asset Service Providers Under MiCA Framework
The European Securities and Markets Authority (ESMA) announced that it has added 14 new crypto-asset service providers to the official MiCA register, increasing the total to 294. The new entrants include several banks and Ripple Payments Europe, highlighting a slowdown in licensing activity under the new EU crypto-asset framework.
UK Blocks Foundation Salary Over Dispute on Ukraine Aid Distribution From Abramovich’s Frozen Assets
The head of the Roman Abramovich foundation says the United Kingdom is blocking the foundation’s salary because of a disagreement over the distribution of humanitarian aid linked to Abramovich’s £2.5 billion frozen assets, which were seized under UK sanctions related to the war in Ukraine.
German Insurtech Neodigital Surrenders BaFin License, Reflecting Broader Market Retreat
Neodigital, a digital insurtech company, has surrendered its BaFin insurance license. This follows a broader trend where multiple digital technology companies have returned their BaFin licenses, marking the end of an era in the insurtech sector.
Germany’s Pension Reform Faces Implementation Hurdles as 2027 Launch Date Comes Under Pressure
The German Federal Ministry of Finance faces growing pressure as the planned launch of a state-backed private pension savings account (Altersvorsorgedepot) scheduled for January 1, 2027 encounters implementation challenges. Banks and brokers indicate they are behind schedule, raising doubts about whether the government’s timeline can be met.
Greece Blocks New Russia Sanctions to Protect LNG Shipping Giant Dynagas
The Greek government is opposing new EU sanctions against Russia to protect Dynagas, a major Greek shipping company owned by George Prokopiou that specializes in transporting liquefied natural gas cargo from Russia’s Arctic LNG operations.
EU Prepares Hundreds-of-Millions-Euro Fine Against Google Under Digital Markets Act
The European Union is set to impose a fine of hundreds of millions of euros on Google. The decision will test whether the EU can effectively regulate digital markets without escalating tensions with the United States.