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NatWest faces massive fines over money-laundering conviction; Soaring energy prices hit the EU
15 October 2021 00:00
The successful prosecution of UK bank NatWest over money-laundering charges was a watershed moment for the country’s Financial Conduct Authority - the first time such criminal offenses have been successfully deployed. Now, attention is turning to the size of the fine that courts will be willing to impose on the lender. Also on today’s podcast: Europe’s spike in energy prices is prompting some soul-searching in the European Union over the bloc’s energy-policy settings.
NatWest’s guilty pleas to criminal charges of money-laundering failures can be understood as an early result
EU gas-storage rules, a common gas-procurement system and changes to the design of the bloc’s electricity market