INDUSTRY-ANALYSIS

FATF Report on Stablecoin and Unhosted Wallet Risks

The Financial Action Task Force (FATF) has released a report detailing risks associated with stablecoins and unhosted wallets for money laundering and terrorist financing. It provides recommendations and good practices for jurisdictions and the private sector to mitigate these risks.

Global Antitrust Fines Rose to $7.7B in 2025

Global antitrust fines reached $7.7 billion in 2025, the highest since 2021, driven by a few major cases, while the total number of infringement decisions fell. Enforcement is increasingly shaped by geopolitical and national security priorities, with a focus on sectors impacting the cost of living.

EBA Final Guidelines on Third-Country Branch Capital Endowment

The European Banking Authority (EBA) has published final guidelines on instruments that third-country branches can use to meet their capital endowment requirements under CRD IV. These guidelines clarify which debt securities and other instruments are acceptable and set operational conditions for their use.

Trump Administration Establishes $20B Reinsurance Facility for Persian Gulf Shipping

The Trump administration has established a $20 billion reinsurance facility through the U.S. International Development Finance Corporation (DFC) to support private insurers providing coverage for maritime shipping in the Persian Gulf. This initiative aims to reduce war risk premiums and ensure the free flow of energy commodities.

Ocean Carriers Add Fuel Surcharges Due to Middle East Disruptions

Major ocean carriers are implementing Emergency Fuel Surcharges (EFS) due to Middle East disruptions and increased routing costs. The U.S. Federal Maritime Commission (FMC) requires carriers to provide 30 days' notice for such surcharges, making enforceability dependent on proper filing and effective dates.

Germany Updates Product Liability Law

Germany's Bundestag has begun reviewing a draft act to modernize its Product Liability Act, transposing an EU directive. The reform aims to update the law for digital products, AI, and global supply chains, with an expected entry into force by December 9, 2026.

EU Maritime and Ports Strategies Adopted

The European Commission adopted the EU Industrial Maritime Strategy and EU Ports Strategy on March 4, 2026. These initiatives aim to strengthen the competitiveness, sustainability, and resilience of the EU's maritime ecosystem, covering shipbuilding, shipping, port infrastructure, and maritime technologies. They signal both business opportunities and increased regulatory scrutiny for maritime and infrastructure investors.

Global Cartel Fines Surge to $3.3 Billion in 2025

Global cartel fines reached $3.3 billion in 2025, the highest total since 2021, driven primarily by enforcement actions in the European Union. The report highlights significant increases in fines from the European Commission and EU member states, while the US saw its lowest fine total in recent memory.

OFAC Sanctions Risks and Cartel Designations

OFAC has settled a $1.7 million case with IMG Academy for sanctions violations related to cartel-linked entities. This highlights increased compliance risks for entities with international touchpoints due to heightened cartel designations and sanctions enforcement.

Canadian Sanctions Laws Overview

Blake, Cassels & Graydon LLP has published an overview of Canada's complex sanctions laws, effective March 2026. The guidance details how these laws impact Canadian businesses and foreign states, outlining prohibitions, reporting obligations, and asset blocking requirements for entities operating in or with Canada.