Archives

Regulatory Watch News

• 

  UK Sanctions Update: Director Disqualification Sanctions

  UK Government

  April 9, 2025

   

  Today, 9 April, the UK Government has varied the designations of 2996 individuals and 818 entities across 28 UK autonomous and mixed sanctions regimes, meaning they are now subject to Director Disqualification Sanctions. 

  The effect of director disqualification sanctions

  Individuals who are subject to director disqualification sanctions are banned directly or indirectly from:

  • being a director of a UK company
  • being a director of a foreign company that has sufficient connection to the UK, even if it is not registered here. For example, if it carries out business or has assets here
  • taking part in or being concerned in the promotion, formation or management of a company

  unless a licence has been issued or there is an exception in place.

• 

  A number of jurisdictions, including the UK and US, are in the process of putting in place regulatory regimes for stablecoins.

  Bank of England

  April 9, 2025

  A number of jurisdictions, including the UK and US, are in the process of putting in place regulatory regimes for stablecoins. The FPC will continue to monitor closely developments in stablecoins and the risks to UK financial stability associated with those. The interconnectedness of unbacked cryptoasset markets with the real economy and financial sector is growing but remains relatively limited.

• 

  Alleged N3bn Fraud: How Kogi State LG Funds were Laundered – Witness

  EFCC

  April 9, 2025

  The Sixth Prosecution Witness, PW6, Remigius Egu in the trial of Ali Bello, Yakubu Isiaka Adabenege, Abba Adaudu and Iyada Sadat on Tuesday, April 8, 2025, narrated before Justice Obiora Egwuatu of the Federal High Court, sitting in Maitama, Abuja, how funds belonging to various Local Government Areas, LGAs, of Kogi State were allegedly diverted and laundered through private accounts. The Economic and Financial Crimes Commission, EFCC is prosecuting the quartet on 18-count charges, bordering on money laundering and misappropriation of public funds to the tune of over N3 billion.