Midweek Roundup: Saudi Arabia, Switzerland Face Inclusion on EU Blacklist, Legal Entities Still Buying New York Luxury Condos, and More

EU officials will include Saudi Arabia on a blacklist of jurisdictions failing to combat money laundering and terrorist financing, a decision that will require European financial institutions to conduct more thorough due-diligence on clients from the nation, the Financial Times reported. More Switzerland may also end up on the list, Le Matin reported. More More than 80 percent of all New York City condominiums that sold last year for $10 million or more were bought by legal entities, suggesting that the Treasury Department's enhanced disclosure rules to prevent money laundering via corporate purchases of real estate have not deterred such...