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Who killed Latvia’s ABLV Bank? And the risks of Europe’s tough new stance on foreign subsidies
14 May 2021 00:00
Like a good murder novel, the demise of ABLV Bank of Latvia has left us with a chalk silhouette on the sidewalk, but with little clarity about who committed the crime. Now, the demise of the bank in the wake of a money-laundering scandal has left out-of-pocket investors determined to crack open the European Union’s byzantine financial-services oversight mechanism. Also on the podcast: the European Union’s new discretionary powers to fight foreign subsidies. There’s no name checking of China in the official documents, but the bloc’s efforts appear squarely targeted in managing the behaviors of Beijing-backed enterprises.
The EU’s new plan to scrutinize foreign subsidies has higher review thresholds than initially planned.
Latvian bank ABLV’s legal defeat at the EU’s top court today opens the door to other judicial challenges.
James Panichi Senior Editor, Asia Pacific
James, an Australian journalist with over 25 years’ experience in print and electronic media, helps to oversee MLex’s coverage of regulatory risk in Asia, with special attention to Australia and New Zealand. In 2016, James was appointed as MLex’s managing editor for continental Europe, overseeing the Brussels bureau’s coverage of EU regulatory affairs and managing a team of 16 journalists in Brussels and Geneva. Previously James worked for the European Voice newspaper, before joining the... Read more
Natalie McNelis Senior Correspondent
Natalie McNelis covers mergers for MLex in Brussels. Before joining MLex in 2017, she spent 20 years as an international trade and competition lawyer in law firms including Stibbe and WilmerHale. Natalie has a BA in English from Mount Holyoke College, a JD from Harvard Law School and an LLM in EU law from KU Leuven. She is admitted to the bar in New York.
Xu Yuan Senior Correspondent
Xu Yuan has worked for MLex for seven years, all of them based in Hong Kong. She has reported on a wide range of regulatory topics, including antitrust, cybersecurity and data security, in mainland China, Hong Kong and Taiwan. She has broken numerous stories on policymaking and enforcement involving international companies doing business in the region and done substantial court reporting in Hong Kong. She is currently specializing in covering regulatory issues related to future... Read more