EU Lawmakers Move to Scale Back ESG Directives
European Union lawmakers voted Monday to dramatically scale back two flagship sustainability rules, narrowing their scope to the bloc’s largest companies after months of pushback from industry, Bloomberg reported.
FSB Warns Market Rally Raises Specter of Sudden Crash
The world’s top financial watchdog warned that a sharp run-up in global asset prices has left markets vulnerable to the potential for a crash given current economic and geopolitical uncertainties.
Bessent Says FinCEN’s New SAR Guidance Will Ease ‘Pain Points’ for Banks
U.S. Treasury Secretary Scott Bessent said new federal guidance on Suspicious Activity Reports (SARs) is intended to ease banks’ “pain points” and shift U.S. anti-money laundering oversight toward measurable effectiveness.
Blacklisted by Biden, Paraguay’s Ex-President See Sanctions Lifted by Trump
The United States has removed former Paraguayan president Horacio Cartes from its sanctions list, a shift that comes amid warmer ties between the Trump administration and President Santiago Peña’s conservative government, Bloomberg reported.
In Blow to Moscow, OFAC Imposes Sanctions on Serbia’s Main Oil Supplier
The United States has imposed sanctions on the Russia-controlled Petroleum Industry of Serbia (NIS), prompting warnings from Serbian President Aleksandar Vučić of “unforeseeable” consequences for the Balkan nation ahead of winter, the Associated Press reported.
Pope Leo Curbs Vatican Bank’s Role in Holy See Investments
Pope Leo XIV has approved new rules that redistribute control over the Holy See’s financial investments, diluting the exclusive authority the Vatican Bank has held since 2022 and formalizing a shared model of oversight across church institutions.
Consumer Data Giant’s Russian Subsidiary Expands Business in Occupied Ukraine
NIQ, the world’s largest consumer-data provider, has been conducting business in occupied Ukraine despite international sanctions against the Russian Federation, the Financial Times reported.
British Man Pleads Guilty in New York to $99 Million Wine Fraud
A British national pleaded guilty on Tuesday in Brooklyn federal court for his role in a fraud scheme that took nearly $100 million from victims who funded loans to fake wine collectors, Reuters said.
Son of Alleged Uyghur Kingpin Spent Millions on Mosque and Cultural Center in London
The son of a Chinese-born Uyghur oligarch who allegedly ran a massive smuggling and money-laundering ring has purchased a former church in North London for more than $3 million and converted it into a mosque and cultural center, OCCRP reported.
FDIC Moves to Limit Bank Examiner Warnings to ‘Material’ Risks
The Federal Deposit Insurance Corp. (FDIC) proposed tightening how bank examiners issue warnings and penalties, aiming to keep supervision focused on safety and soundness, according to report by Bloomberg.