The Prudential Regulation Authority (PRA), in consultation with HM Treasury, has decided to delay the implementation of Basel 3.1 in the UK by one year until 1 January 2027. This allows more time for greater clarity to emerge about plans for its implementation in the United States. Basel 3.1 is the final set of international banking reforms designed in response to the 2008 global financial crisis. It is designed to improve banks’ own measurement of risk, standardising approaches between firms to make their capital ratios more consistent and comparable. Continue reading…

Eurojust has supported the German and Dutch authorities in stopping a series of severe retaliatory attacks between criminals using explosives and firearms to settle scores. A total of 23 suspects have been arrested, including three during an action day this week. Eurojust assisted with the execution of European Arrest Warrants (EAWs) and European Investigation Orders (EIOs) and coordinated the judicial cooperation between the authorities.

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The FCA has found wholesale brokers need to enhance their systems, controls, risk awareness and training to guard against money laundering. The FCA focused on wholesale brokers in its review because of the important role they play in capital markets in facilitating deals. The regulator also engaged with other market participants to understand wider risks, issues and good practice, recognising that collaboration with and across industry is essential to delivering real improvements. This report will assist any firms involved in the capital markets to improve their controls and prevent financial crime. Continue reading…

The European Commission has requested consultations at the World Trade Organization (WTO) aiming to remove unfair and illegal trade practices by China in the sphere of intellectual property. China has empowered its courts to set binding worldwide royalty rates for EU standard essential patents, without the consent of the patent owner. This pressures innovative European high-tech companies into lowering their rates on a worldwide basis, thus giving Chinese manufacturers cheaper access to those European technologies unfairly. Continue reading…

As the hub for cross-border judicial cooperation, Eurojust works together with national authorities to fight organised crime. Our support and expertise helps authorities to solve complex investigations into a variety of crime types. In 2024, we saw a number of long running cases lead to joint operations that arrested suspects, seized goods and stopped criminals in their tracks. Continue reading…

The Financial Stability Board (FSB) has recently put forth a report on The Relevance of Transition Plans for Financial Stability, which looks at the role that firms’ climate transition planning and the resulting outputs – transition plans – can play for financial stability. Transition plans provide forward-looking information on how non-financial companies and financial institutions may adjust their activities in response to climate risks, which can be useful for authorities to measure and monitor climate-related financial risks. Continue reading…

The EU continues to remain a leading global humanitarian aid donor. With more than 300 million people estimated to need humanitarian assistance in 2025, the EU has on 16 January announced an initial humanitarian budget for 2025 of €1.9 billion. Continue reading…

by Andy Norton

The EU’s Digital Operational Resilience Act (DORA) has been on the regulatory horizon for some time. Yet its implications for the financial sector remain a pressing concern. As DORA has now come into effect as of 17 January, many financial institutions, burdened by legacy systems and a patchwork of software applications1, find themselves ill-prepared to meet DORA’s stringent requirements. Yet, some UK companies, especially smaller third-party ICT suppliers2, might think they’re exempt from DORA’s requirements in the wake of its EU exit. That’s not exactly the case. In fact, it’s unsurprising that 39% of organisations3 admit to feeling challenged by the UK’s increasingly complicated regulations and governance requirements; DORA is just another on a long list of regulations that firms must adhere to. Continue reading…

Italian authorities have disrupted a sophisticated operation that was illegally exporting precious archaeological artefacts belonging to the Italian state. The criminal group worked with expert grave robbers and thieves to excavate numerous objects. Following a complex investigation lasting over several years, Italian authorities, supported by Eurojust, dismantled the organisation and arrested four suspects.

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The FCA has fined Arian Financial LLP (Arian) £288,962.53 for failing to ensure it had effective systems and controls against financial crime. Arian’s failure to implement adequate systems and controls against financial crime put it at risk of being used to support fraudulent trading and money laundering on behalf of clients of the Solo Group. This is the seventh case brought by the FCA in relation to cum-ex trading and withholding tax schemes. This has involved proactive engagement with EU and global law enforcement authorities. The FCA has imposed fines of more than £22m in relation to this trading. Continue reading…