AML Compliance

EBA Concludes Legacy Instruments Monitoring Work

The European Banking Authority (EBA) has concluded its dedicated monitoring of legacy instruments, which are financial instruments benefiting from grandfathering provisions under CRR1 and CRR2. The EBA will no longer prioritize this specific monitoring, trusting competent authorities to handle remaining cases based on existing guidance.

EBA Opinion on Commission Amendments to RTS on Equivalent Legal Mechanism

The European Banking Authority (EBA) published an Opinion responding to the European Commission's proposed amendments to draft technical standards on equivalent legal mechanisms for residential property under construction. The EBA disagrees with two key amendments concerning risk weight caps and the mandate for completion guarantees.

EBA Central Validation of ISDA SIMM Begins March 1, 2026

The European Banking Authority (EBA) announced the commencement of its central validation function for the ISDA SIMM on March 1, 2026. This new function, established under EMIR, aims to ensure consistent oversight of initial margin models for non-centrally cleared derivatives across the EU.

SFO Investigation into London Capital & Finance plc

The Serious Fraud Office (SFO) announced an ongoing investigation into individuals associated with London Capital & Finance plc (LCF), which relates to investments offered to the public between 2013 and 2018. The SFO opened the investigation in 2019 and has made arrests, with the case remaining active.

Serious Fraud Office v. Safe Hands Plans Limited - Fraud Investigation

The Serious Fraud Office (SFO) has charged two former executives of Safe Hands Plans Limited and its parent company, SHP Capital Holdings Limited, with conspiracy to defraud. The investigation into suspected fraud began in 2022 following the collapse of the pre-paid funeral plan scheme, impacting approximately 46,000 plan holders.

SFO v. AOG Technics Director - Fraudulent Trading

The Serious Fraud Office (SFO) has concluded its substantive case against Jose Alejandro Zamora Yrala, director of AOG Technics Ltd, with his sentencing to 4 years 8 months in prison for fraudulent trading. The company was investigated for supplying suspected unapproved aircraft parts.

SFO Investigates Northern Powerhouse and MBi Group for Fraud and Money Laundering

The Serious Fraud Office (SFO) announced an investigation into suspected fraud and money laundering by the Northern Powerhouse Development Group and MBi Group. The investigation, which began in August 2021, focuses on investments offered in care homes and hotels between 2013 and 2019.

Security Council Removes Syria Officials from ISIL/Al-Qaida Sanctions List

The UN Security Council adopted Resolution 2799 (2025) to remove Syria's transitional President Ahmed al-Sharaa and transitional Minister for Interior Anas Hasan Khattab from the ISIL/Al-Qaida sanctions list. This decision, passed with 14 votes in favour and 1 abstention, is intended to support Syria's economic recovery and political transition.

Security Council Adds Four to Sudan Sanctions List

The UN Security Council Committee established pursuant to resolution 1591 (2005) concerning the Sudan has added four individuals to its sanctions list. These individuals are associated with the Rapid Support Forces and have been designated under Chapter VII of the UN Charter.

Security Council Press Release on ISIL and Al-Qaida Sanctions

The UN Security Council issued a press release on February 27, 2026, concerning sanctions against ISIL (Da'esh) and Al-Qaida. The release details updates and decisions made by the Security Council regarding these sanctions regimes.