Publications

Hogan Lovells Engage

EU issues priorities on review of anti-money laundering and countering the financing of terrorism

The Presidency of the Council of the EU has issued a note which sets the agenda for the ECOFIN EU Council meeting later on this week, observing that Member States need to consider the scope ...

Hogan Lovells Engage

Will Italian AML rules capture foreign entities operating online without a physical presence in Italy?

The Italian Financial Intelligence Unit (FIU), in the context of a hearing in front of Parliament, released specific comments on the draft law implementing the fifth Anti-Money Laundering...

Hogan Lovells Engage

EBA issues report on FinTech regulatory perimeter, regulatory status and authorisation

On the basis of the mandate received under the European Commission's FinTech Action Plan and following the European Banking Authority (EBA) FinTech Roadmap of March 2018, in July 2019, the...

Hogan Lovells Engage

SMCR extension commencement order published

Last month, the Bank of England and Financial Services Act 2016 (Commencement No 6 and Transitional Provisions) Regulations 2019 came into force. These Regulations ultimately confirm the...

Hogan Lovells Engage

EBA Report on the impact of FinTech on payment institutions and e-money institutions business models

In line with the priorities set out in its FinTech Roadmap, last month, the European Banking Authority (EBA) published a report on the impact of FinTech on the business of payment...

Hogan Lovells Engage

OFAC's new approach to penalties could mean larger fines for sanctions violations

On 14 June 2019, The Wall Street Journal reported that the Treasury Department's Office of Foreign Assets Control (OFAC) is changing how it calculates fines relating to sanctions...

Hogan Lovells Engage

EU extends economic sanctions adopted against Russia by six months

On 27 June, the Council of the European Union has prolonged until 31 January 2020 economic sanctions against Russia for its actions in eastern Ukraine.

Hogan Lovells Engage

UK clamps down on the trading of goods outside the country without a licence

HM Revenue & Customs (HMRC) recently issued a compound penalty of more than £10,000 to a UK person who was "brokering" an unlicensed trading of body armour. Although the goods...

Hogan Lovells Engage

UK Parliament approves post-Brexit blocking statute

The UK Parliament has approved the draft Protection against the Effects of the Extraterritorial Application of Third Country Legislation (Amendment) (EU Exit) Regulations 2019 (the UK...

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