All Europe articles
-
PremiumCJEU ruling adds to GDPR liability over unfair competition, AML/CFT
Legal cases and fines for noncompliance with EU’s GDPR could rise sharply after a court found that a breach was a source of unfair competition. The judgment also opens doors to civil cases over companies that ignoring expensive or challenging rules, such as those regarding AML/CFT.
-
News BriefPortuguese bank ousts chief risk officer after ‘suspicious’ transactions uncovered
Portuguese bank Novo Banco, S.A., fired Chief Risk Officer Carlos Jorge Ferreira Brandão “with just cause” after an internal probe discovered “suspicious financial transactions” in his sphere.
-
PremiumExperts unsure of risk appetite as EU beefs up cyber rules for critical infrastructure
New rules on cyber risk management across the EU put execs firmly in the crosshairs for noncompliance and are likely to apply to a wider range of organizations than many business leaders may initially think. However, there are also concerns that the rules may become muddled across the wide bloc. ...
-
PremiumTPRM critical as DORA, new FCA third-party engagement rules come into effect in 2025
New rules that push IT firms providing “critical” services to the U.K.’s financial sector to share more data about cyberattacks and resiliency measures have been welcomed by industry experts. However, concerns remain over how suppliers will be classified and how key data might be gathered and shared.
-
PremiumEU AI Act next GDPR? Proof in the pudding as boardrooms prioritize data governance
Breaches of the EU’s GDPR can cost companies substantial sums and huge reputational damage. Now some are warning that the implementation of the EU’s AI Act will be just as far-reaching, and could potentially lead to similar numbers of cases.
-
Premium’Future-proofing’ products for safety next level of regulation under EU GPSR
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
-
PremiumOverabundance of U.K. AML regulators stretching enforcement resources thin, experts say
The U.K. will struggle to shed its reputation as one of the world’s biggest conduits for dirty money due to a combination of patchy intelligence-sharing and poorly resourced enforcement agencies, experts told Compliance Week.
-
PremiumU.K., EU enforcement regimes set to escalate, but critics question sanctions’ effectiveness
With a new political regime ready to take over in the U.S., the effectiveness of sanctions against malign foreign actors like Russia, North Korea, and Iran have come into question. While the European Union and U.K. have increased sanctions pressure, critics have publicly asked: Is it enough?
-
PremiumGood AI governance starts with proactive, continuous risk assessments
Data governance has become a key concern for companies, especially when the EU AI Act and General Data Protection Regulation have put a premium on handling data responsibly and ensuring that artificial intelligence does not cause harm.
-
PremiumEU Deforestation Directive delayed, experts advise compliance managers to not rest on laurels
If your business uses leather, rubber, wood, beef, palm oil, soy, or paper, then you may need to comply with the EU Deforestation Directive, a new rule intended to ensure that no goods traded in the EU contribute to global deforestation.
-
News BriefSpanish telecomm Telefónica S.A. fined $85M over bribes to government officials in Venezuela
A subsidiary of Spanish telecommunications provider Telefónica S.A. will pay $85.2 million to settle a charge that it violated the Foreign Corrupt Practices Act when it paid bribes to Venezuelan officials to gain preferential access to a currency auction.
-
PremiumMeta-backed EU appeals body facing conflicts of interest concerns
Ireland’s cozy relationship with big business and Big Tech has once again come under scrutiny after the country’s media regulator allowed a $15 million one-off funding payment from Meta’s Oversight Board Trust to help launch the newly formed Appeal Centre Europe.
-
News BriefIrish DPC fines LinkedIn $335M over GDPR violations related to targeted advertising
The Irish Data Protection Commission fined Microsoft-owned LinkedIn 310 million euros (U.S. $335 million) over violations of the European Union’s General Data Protection Regulation related to the social media company’s data processing and targeted advertising.
-
PremiumEU businesses will soon have to report on supply chains and sustainability. Not all are ready
Supply chains are about to become the next big thing in sustainability compliance. However, many organizations still lack the data and assurance capabilities to track sustainability and human rights activities across their extended supply chains – which is required by the EU’s CS3D. Many others that fall out of scope ...
-
PremiumPace of innovation will make EU AI Act hard to enforce, experts say
Concerns about how robustly European member states may enforce the EU AI Act, which took effect on Aug. 1, are divided between if regulators will take a “light touch” approach or a sledgehammer for noncompliance. One thing’s for sure, the pace of AI innovation will make enforcement very difficult.
-
EventPhoto gallery: Compliance Week Europe 2024
Compliance Week Europe, held Oct. 15-16 in Amsterdam in partnership with our sister organization the Internation Compliance Association, gathered more than 200 GRC professionals across industries. Check out some of the sights from the event.
-
PremiumWhat’s your risk appetite? EU firms grapple with ‘ridiculously complex’ ESG reporting rules
Discussions on the increasingly complex ESG rules in the EU were the crux of some conversations at Compliance Week Europe, a two-day conference in Amsterdam Oct. 15-16. The event brought together Compliance Week and its sister organization, the International Compliance Association, and more than 200 GRC professionals across industries.
-
PremiumCompanies are slowing AI launches in Europe, some say European Union regulations are why
The European Union’s Digital Markets Act is forcing many Big Tech companies to postpone the launch of artificial intelligence-powered features, like Apple Intelligence, over user privacy and data security concerns.
-
PremiumAI misuse could lead to sanctions from multiple regulators, experts warn
The proliferation of AI, as well as the promised business cases promoting its use, has led companies around the world to quickly invest in the technology. Executives hope these AI tools will improve efficiencies, reduce costs, and help them stay competitive. But it could lead to just the opposite.
-
PremiumBarclays is axing its bonus caps. Is it also ditching good governance?
Four years post-Brexit, London-based Barclays became the first British bank to scrap bonus caps for its traders that were meant to curb excessive risk-taking with client cash, improve corporate governance, and restore faith in an industry most working people still hold responsible for 15 years of economic misery.