All Europe articles – Page 37
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ArticleCryptocurrency’s future: What compliance needs to know
Cryptocurrency is complicated, but it’s not going away anytime soon. David Povey of the ICA takes a look at what regulators are trying to do and offers tips on where compliance officers can go to study this complex topic further.
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ArticleGerman court cuts 1 & 1 Telecom GDPR fine by 90 percent
Continuing a recent trend of massive fine reductions under the General Data Protection Regulation, 1 & 1 Telecom in Germany had its €9.55 million penalty issued last year reduced to €900,000 (U.S. $1.06 million) by a German court.
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ArticleU.K. eyes history with climate change disclosure plan package
Financial services firms in the United Kingdom must soon begin reporting what material financial impact they experience from climate change under a new disclosure mandate that is the first of its kind in the world.
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ArticleTicketmaster UK fined $1.6M under GDPR for 2018 data breach
The U.K. Information Commissioner’s Office fined Ticketmaster £1.25 million (U.S. $1.6 million) for its failures relating to a 2018 data breach by a third party.
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ArticleVolkswagen CCO Kurt Michels: Tips for surviving a monitorship
Fresh off his company’s compliance monitorship, Volkswagen CCO Kurt Michels shares ways to cultivate a trustful relationship with a monitor; finesse a company’s cultural makeover; and reestablish credibility in the wake of criminal behavior.
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ArticleGuidance for safe data transfers post-Privacy Shield
The European Data Protection Board has issued guidance to help companies transfer data to the United States and other third countries safely after Europe’s top court in July ruled key methods used up until then were either invalid or unsafe.
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ArticleU.K. watchdog seeks disclosures on COVID-19, climate change
COVID-19 and its impact on operations and the bottom line tops the Financial Reporting Council’s list of what it wants to see in company reports for 2021.
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ArticleBA, Marriott fine reductions latest wrench in GDPR enforcement harmony
Lack of clarity on fines has dogged the GDPR since it took effect in May 2018, and the recent dramatic penalty reductions handed down by the U.K. in the cases of British Airways and Marriott certainly won’t help.
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ArticleJulius Baer reserves $80M for FIFA corruption settlement
Julius Baer has set aside nearly $80 million in a proposed settlement with the Department of Justice regarding the agency’s corruption investigation linked to world soccer federation FIFA.
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ArticleVW integrity chief: Culture has changed … and we have stress test to prove it
In a Q&A with Compliance Week, Volkswagen integrity chief Hiltrud Werner said that while compliance efforts “never have a finish line,” the company has made great strides since Dieselgate.
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ArticleBombardier cooperating with SFO corruption investigation
The U.K. Serious Fraud Office is investigating plane maker Bombardier over suspected bribery and corruption in relation to contracts and orders from Indonesian airline carrier Garuda Indonesia.
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ArticleESMA review slams German authorities’ supervision of Wirecard
A damning report by the EU’s securities markets regulator found numerous shortcomings in German authorities’ supervision of Wirecard’s financial reporting leading up to its collapse surrounding a $2 billion accounting scandal.
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ArticleWorking together to stop money laundering: A conversation with Marcus Pleyer
Dr. Marcus Pleyer, president of the Financial Action Task Force, emphasized his commitment to stopping money laundering in a wide-ranging and forward-looking discussion at the ICA’s BIG Compliance Festival.
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ArticleManchester Arena tragedy offers stark lesson in training importance
As the public inquiry into the Manchester Arena bombing of 2017 plays out in the United Kingdom, lessons can be gleaned on the importance of providing thorough and complete training to employees in all fields.
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ArticleCCO Philippe Vollot has a plan for Danske’s compliance reboot
Danske Bank CCO Philippe Vollot knows his journey to build a robust compliance program and culture at the troubled lender is far from over.
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In second drastic reduction, ICO fines Marriott $23.8M
The Marriott GDPR fine handed down by the U.K. Information Commissioner’s Office is less than 20 percent of the original number the regulator proposed, the second time this month such a drastic reduction has taken place.
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ArticleAirline Services Ltd to pay $3.9M, agrees to DPA in bribery case
The U.K.’s Serious Fraud Office has levied penalties worth nearly £3 million (U.S. $3.9 million) against defunct aircraft refurbishing company Airline Services Limited for violating the country’s anti-bribery laws.
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ArticleFRC: Major audit quality at Grant Thornton UK, Mazars ‘unacceptable’
The U.K. Financial Reporting Council has singled out audit firms Grant Thornton and Mazars as needing to significantly improve audit quality in the wake of recent inspection findings.
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ArticleStudy questions effectiveness of U.K. management oversight regime
The U.K.’s financial services regulator is still failing to hold individuals accountable four years after introducing a program to improve oversight and enforcement, according to a new study.
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ArticleU.K.’s SFO lays out expectations in new DPA guidance
The U.K. Serious Fraud Office has published its latest internal guidance on the threshold companies must meet before they are offered a deferred prosecution agreement.