Compliance & Ethics

The Serious Fraud Office, ENRC, Dechert LLP and David Gerrard have concluded their civil proceedings on confidential terms. The case closes a landmark dispute in which a court found the SFO breached its duties during a bribery and corruption investigation that ended without charges. Compliance teams should treat it as a lasting reference point on how privilege, internal investigations and engagement with enforcement agencies are handled.

The Norway Financial Supervisory Authority has listed a warning about "Alinmcol," an entity originally flagged by Luxembourg's CSSF in a June 2026 notice concerning the website www.alinmcol.com. Compliance teams should treat the entity as high risk for unauthorized or fraudulent activity and update screening controls and customer-facing alerts accordingly.

FinCEN has reissued a Geographic Targeting Order requiring covered money services businesses in designated ZIP codes in New Mexico and Texas to file Currency Transaction Reports on cash transactions between USD $1,000 and USD $10,000. The order is effective for 180 days after Federal Register publication. Compliance teams at affected MSBs, and at banks that serve them, should confirm scope, adjust reporting processes, and reassess risk exposure.

An ECB staff blog post finds that synthetic securitization issuance has only a marginal effect on corporate lending (0.02% growth per 1% of issuance), while its effect on dividend payouts is roughly three times larger (0.07%). The analysis arrives as the EU reviews its securitization framework under the savings and investments union, so compliance teams should anticipate closer supervisory scrutiny of how banks use the capital relief these transactions provide.

The Norwegian Financial Supervisory Authority (Finanstilsynet) has published a warning about Warven Wealthvale, which references a prior warning issued by the UK Financial Conduct Authority (FCA). Compliance teams should treat the entity as a potential unauthorized or fraudulent investment solicitor and update screening controls accordingly.

Finanstilsynet (Norway FSA) has published a warning about MY.NEXT-CAP.PRO (CLON), referencing a warning originally issued by Spain's securities regulator, the CNMV. The entity is described as a "clone," which typically means it imitates a legitimate authorized firm. Compliance teams should treat it as a potential fraud and impersonation risk and update screening and client-protection controls accordingly.

The ECB's July 2026 bank interest rate statistics show composite borrowing costs broadly unchanged at 3.80% for corporations and 3.54% for households buying homes. Rates on new term deposits rose by 5 basis points for both sectors. This is a statistical release with no new obligations, but it is a useful benchmark for pricing, interest rate risk, and conduct oversight.