Regulator
Poland fines Biedronka owner PLN 525m for running a no-poach pact among hauliers
UOKiK fined Jeronimo Martins Polska, 29 carriers and eight individuals PLN 572m over waiting periods that kept drivers from switching employers.
Regulator
Poland fines drug wholesalers PLN 905m over decade-long price information exchange
UOKiK fined four companies, led by Neuca and Farmacol-Logistyka, for sharing non-public pharmacy prices; a leniency applicant avoided any fine.
ComplianceAnalysis
Analysis: what the FATF's October plenary could mean for emerging-market grey listings
Côte d'Ivoire is expected to leave the list and the DRC is unlikely to; deadlines have expired for Vietnam and Cameroon, and Iraq faces its first plenary as listed.
Sanctions
OFAC lists Saudi, Turkish and UAE companies in two Iran actions within three days
OFAC listed Riyadh and Istanbul companies tied to Pakistan's Waseem Tajammal, then Turkish and UAE suppliers to Iran's car and steel sectors.
SanctionsExplainer
OFAC's Russian diesel licence: what changes for emerging-market traders and banks
General License 135 opens a six-month window for Russian-origin diesel deals under US sanctions, while GL 13S rolls over a narrower tax-and-fees authorisation.
Regulator
Poland fines seven grid contractors PLN 13.5m for rigging PGE Dystrybucja auctions
UOKiK found bidders agreed winners in 11 electronic auctions, then trained procurement officials with the OECD and the European Commission on spotting collusion.
Sanctions
US freight forwarder pays OFAC $175,015 after missing renamed Chinese supplier
Pegasus Worldwide Logistics screened only the new name of a designated pill press maker. Its unchanged phone number and email would have matched, OFAC said.
InstitutionExplainer
What NABU and SAPO's first-half 2026 figures count, and what they say blocks them
The agencies report 107 suspects, 106 defendants sent to trial and 55 guilty verdicts in six months, and press for an independent forensic body and wider SAPO powers.
ESGExplainer
CBAM part 1: for Türkiye, Kazakhstan and Ukraine, verified data now sets the bill
EU importers pay, but on 2026 default values a tonne of Kazakh semi-finished steel needs over three times the certificates of a Turkish one. Part 1 sets out the rules.
BriefingExplainer
Country Governance Briefing: Saudi Arabia's market regulator rewrites its rulebook
A new Capital Market Authority chairman, four rule consultations closing in late October, tougher auditor rules and the IMF's call to implement investor laws.
Enforcement
NABU alleges 100,000-tonne fuel diversion at Ukrnafta worth UAH 2.88bn
NABU says a group diverted fuel in 2017 to 2020 and hid proceeds in offshore companies; it also reports a leak of case data from within the investigation.
Enforcement
September enforcement catch-up: four actions and where each stands in October
Banque Misr UAE, Golden Global, Citibank's London branch and 37 Turkish auto suppliers: what each action did, and what has happened since, with the documents.
Export controls
BIS renews export denial orders on four Russian airlines, citing 75 flights
Orders on Aeroflot, UTair, Azur Air and Ural list flights to Türkiye, Central Asia and the South Caucasus and bar any person from servicing items the airlines control.
ESGExplainer
Brazil, Chile and Mexico on ISSB standards: three timetables after Chile's delay
Chile's regulator moved first ISSB reports to 2028. Mexico's issuers filed in 2026, and Brazil requires reasonable assurance from its first mandatory year.
Sanctions
OFAC sanctions Kazakh, Turkish and UAE firms linked to Mahan Air in Iran airlines sweep
Treasury designated 27 Iranian airlines and nine intermediaries, including an Almaty sales agent, and FinCEN warned banks about aircraft moved through Central Asia.
SanctionsData
Sanctions and Enforcement Ledger: 1 to 16 October 2026
Every OFAC, UK and EU action since 1 October that named an emerging-market company, bank or vessel, from an Iraqi bank to Kyrgyz payment firms, with the notice linked.
CalendarBrief
The Week Ahead, 19 October: CBAM trilogue, OFAC deadlines, FATF plenary
The first trilogue on extending CBAM downstream, two OFAC wind-down deadlines, UN reviews and the FATF's October plenary, with the document behind each.
Editor's note
Who writes and edits EM Governance Review
Every piece is researched, drafted and checked by our AI editorial system and signed by a named column; the publisher is responsible for all of it.
ESGExplainer
What EU Omnibus I changes for emerging-market suppliers under CSRD and CSDDD
Directive (EU) 2026/470 limits CSRD to firms above 1,000 staff and EUR 450m turnover, and caps what large customers can demand of smaller suppliers.
