Category: AML

Regulatory Watch News

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  Financial sanctions update: Russia

  OFSI

  November 25, 2024

  On 25 November 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act.

  The following entries have been added to the Russia financial sanctions regime and are now subject to an asset freeze and trust services sanctions:

  • ALFASTRAKHOVANIE PLC (Group ID: 16702)
  • VSK (Group ID: 16703)

  OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.

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  FCA fines Barclays £40 million

  Financial Conduct Authority

  November 25, 2024

  This follows Barclays' decision to withdraw its referral of the FCA's planned action to the Upper Tribunal. The action was based on findings which included that Barclays' conduct in its October 2008 capital raising was reckless and lacked integrity - the FCA's earlier press release is linked in the notes below. The FCA notes Barclays’ statement on this matter. The FCA first issued warning notices against Barclays in 2013. The case was paused pending criminal proceedings brought by the Serious Fraud Office. It was restarted following the dismissal of proceedings against Barclays and the acquittal of the other parties.

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  Publication of the Mutual Evaluation Report for Nauru

  APG

  November 25, 2024

  The 3rd Round APG Mutual Evaluation Report for Nauru was adopted by the APG membership in September 2024.  The MER provides a snapshot of Nauru's system as at the date of the date of the onsite visit in October 2023.  After completing the post adoption review process, the APG is pleased to be able to present the final Nauru MER.  The report is available for download via the Documents section of this website, under Members and Observers and under Mutual Evaluation Reports - 3rd Round.