Tag: Finance

Regulatory Watch News

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  Croatia: Two arrests in subsidy fraud investigation involving a nursery school

  European Public Prosecutor's Office

  March 12, 2026

  (Luxembourg, 12 March 2026) – The European Public Prosecutor’s Office (EPPO) in Zagreb (Croatia) has initiated an investigation against two individuals and one educational institution   suspected of subsidy fraud and document forgery. The two suspects were arrested yesterday at the EPPO’s request, following investigative measures conducted in cooperation with the Osijek-Baranja Police Department. At issue are subsidies in the amount of €211 300.12, supposed to improve service for children in a nursery school, with facilities in Đakovo and Vrpolje, co-financed by the European Social Fund (ESF) at the rate of 85% and the Croatian budget at 15%.

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  Improved Statutory Guidance for sanctions regimes

  UK Government

  March 12, 2026

  To make guidance on UK sanctions regimes clearer and easier to navigate, we’ve introduced a series of improvements to structure and wording of the statutory guidance.  You do not need to take any action. These changes make the sanctions guidance easier to read and use, and do not reflect changes to the meaning of the text or scope of the regulations. Summary of changes to statutory guidance, by section: 

  1. Prohibitions and requirements: Minor changes to text throughout. Wording under ‘Director disqualification’ and ‘Information and record keeping’ is updated, and an introductory section added.
  2. Enforcement: Deletion of content that duplicates departmental enforcement guidance. This section will link out to departmental guides.
  3. Licences and exceptions:   

  3.1 Exceptions: Added introductory definition of exceptions. Each exception now has a header, and links to additional departmental guidance where helpful. New ‘lookup’ guide for exceptions to the Belarus trade and transport sanctions. 3.2-3.4 Licensing: Added introductory definition of licences. Restructured content on licensing considerations. New ‘lookup’ guide for considerations for trade licences under the Belarus sanctions.

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  Rockland County Man Pleads Guilty To Defrauding Investors In Investment Scheme

  United States Attorney Office -Southern District of New York

  March 11, 2026

  United States Attorney for the Southern District of New York, Jay Clayton, announced that SOLOMON LICHTENSTEIN pled guilty today before U.S. Magistrate Judge Victoria Reznik to securities fraud in connection with a scheme to defraud investors in two investment vehicles he managed and promoted.

  “Solomon Lichtenstein solicited and received millions of dollars from friends, relatives, and members of his community on the back of false statements and misrepresentations regarding his investment qualifications and strategy, track record, and returns,” said U.S. Attorney Jay Clayton.  “When investment advisers abuse the trust of their clients and use New Yorkers’ hard-earned money for their personal benefit, our Office will hold them criminally accountable.”