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WEEKLY NEWS | 08 AUGUST 2022 | 158


Regulators around the world are placing financial institutions under ever-greater scrutiny to ensure compliance with evolving requirements. Increasingly large banks are receiving hefty penalties for repeated

Feature News
Strategies to ensure compliance systems and controls withstand regulatory scrutiny

failures in their systems and controls. The pressure falls on compliance teams to anticipate, prevent, and detect financial crime threats and breaches.

Economy News
London markets lose early gains despite UK banks’ best efforts

A bumper crop of results from Britain’s largest lender and Asia-focused HSBC initially boosted London markets today, before an afternoon collapse.

The capital’s premier FTSE 100 index dropped 0.13 per cent to 7,413.42 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 0.22 per cent to reach 20,079.23 points.

Investors piled into London-listed banks after HSBC this morning said profits hit $9.2bn (£7.5bn) for the six months to June, down from last year but above analysts’ expectations. Those results triggered a rally among bank stocks, with HSBC ......

Money News
German H1 energy use down 3.5% on slower economy, high prices, weather

FRANKFURT, Aug 2 (Reuters) - German primary energy consumption fell 3.5% year-on-year in the first six months of 2022 due to a weaker economy, high prices and mild weather, industry statistics group AGEB said on Tuesday. Issuing its

January to June 2022 report, AGEB said Europe's biggest economy used 203.0 million tonnes of a year earlier. Primary energy refers to raw energy sources such as fossil .......

Roundup of recent anti-money laundering guidance and advisories
Compliance News

The Financial Crimes Enforcement Network ("FinCEN"), joined at times by other federal government agencies, has issued a series of advisories and guidance of importance to financial institutions.1 In this Debevoise In Depth, we review recent FinCEN issuances concerning developments in customer due diligence ("CDD"), emerging fraudulent......

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