Welcome to the 27th issue of our Newsletter ‘Beyond Compliance’

The regulatory framework especially with respect to economic sanctions is gradually becoming even tighter with the issuance of additional regulation including the 8th EU Package on Russia and the regulation / guidance issued by G7 countries on the anticipated price cap which will be imposed on crude oil and petroleum products of Russian origin.

Additionally, it is clear that ESG issues are moving from a mainly voluntary disclosure-oriented dimension to a regulatory one with significant implications for how ESG information is collected, verified, and acted upon within an organization. Also, concerns to the compliance landscape are highlighted further to the intensification of measures taken and increasing attention from the European counterparts regarding Competition Law. 

Finally, on the below link please find the updated Compliance Division Flyer with important statistics and information relevant to the Bank’s compliance remediation.