The FCA has fined Starling Bank Limited £28,959,426 for financial crime failings related to its financial sanctions screening. It also repeatedly breached a requirement not to open accounts for high-risk customers. Starling grew quickly, from approximately 43,000 customers in 2017 to 3.6 million in 2023. However, measures to tackle financial crime did not keep pace with its growth.

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Quantios, the global provider of Wealth and Corporate Services SaaS solutions, is pleased to announce it has completed the acquisition of Klea, an AI-powered legal entity management (LEM) tool. Led by a highly experienced management team, Klea has built an innovative platform to effectively manage recurring corporate statutory events for a global customer base. Klea’s collaboration tool provides a single source of truth, streamlining corporate secretarial work for legal teams and giving access to real-time, accurate entity data. Continue reading…

On 29 September, the European Commission announced €10 million in additional humanitarian aid to help people in Lebanon affected by the ongoing escalation of hostilities between Hezbollah and Israel. This emergency funding aims to tackle the most urgent needs such as protection, food assistance, shelter and health care. The EU stands ready to provide further support by mobilising all the available emergency response tools, including via use of the Civil Protection Mechanism. Continue reading…

German and Italian authorities worked together with Eurojust and Europol to stop a fraudulent scheme. The suspects targeted public institutions, cities, and municipalities, and were able to cause damages of several million euros. On 24 September, an operation took place where technology and assets were seized and search warrants against five suspects were executed.

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The Financial Stability Board (FSB) has published its Thematic Review on Money Market Fund (MMF) Reforms. The review takes stock of the measures adopted or planned by FSB member jurisdictions in response to the 2021 FSB report, Policy Proposals to Enhance MMF Resilience. The review does not assess the effectiveness of those policy measures in addressing risks to financial stability, as this will be the focus of separate follow-up work by the FSB in 2026. Continue reading…

Discusses recent episodes of market and operational disruptions. Basel Committee approves annual assessment exercise for global systemically important banks (G-SIBs). Finalises analytical report on liquidity risk insights from the 2023 banking turmoil. The Basel Committee on Banking Supervision met virtually on 23–24 September to take stock of recent market developments and risks to the global banking system, and to discuss a range of policy and supervisory initiatives. Continue reading…

by Ciara Irwin

In today’s world, where environmental sustainability is becoming increasingly crucial, finding efficient and eco-friendly ways to power our homes is essential. Homeowners seeking to reduce their carbon footprint while enjoying energy savings can now take advantage of the combined benefits of air source heat pumps, Solar PV, and battery systems. Let’s explore how this powerful trio can revolutionise your home and contribute to a greener future. Continue reading…

New rules from the FCA to protect access to cash have come into force and are already having a positive impact in local communities. Since the rules were confirmed in July, LINK, which manages the UK’s cash access and ATM network, has reassessed the needs of local areas where banking services are changing. Continue reading…

During a global operation, authorities from around the globe took down an encrypted communication platform used for criminal activities such as drug trafficking, homicide, corruption and money laundering. The wide scale operation, supported by Eurojust and Europol, led to over 50 arrests and the seizing of financial assets. Continue reading…