All Europe articles – Page 56
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Blog
SFO set to recover proceeds from Uzbekistan corrupt deals
The U.K. Serious Fraud Office said it has issued a claim for civil recovery in the High Court under Part 5 of the Proceeds of Crime Act 2002.
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Blog
ICO takes action for failure to pay new data protection fee
The U.K. Information Commissioner’s Office has taken formal enforcement action against 34 organizations that have failed to pay the new data protection fee.
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Blog
ICO issues first formal GDPR enforcement action
Canadian data analytics firm AggregateIQ Data Services has become the first company to face a formal enforcement action by the U.K. Information Commissioner’s Office for violations of the EU General Data Protection Regulation and the U.K. Data Protection Act.
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Blog
World Bank Group issues first Sanctions System Annual Report
The World Bank Group debarred 78 firms and individuals during fiscal year 2018, according to its inaugural Sanctions System Annual Report, issued on Oct. 3.
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Blog
U.K. retailer details what comes next for no-deal Brexit prep
A no-deal Brexit could have serious consequences for the corporate realm, but few companies appear armed for the challenges. In contrast is U.K. retailer Next, which has published a paper on its preparations that could help others face a no-deal Brexit possibility.
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Blog
SFO General Counsel to join Kingsley Napley
Alun Milford, general counsel for the U.K. Serious Fraud Office, will be leaving the agency to join law firm Kingsley Napley as a partner.
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Blog
Deutsche Bank latest to come under fire for lax AML controls
Deutsche Bank has become the fourth bank in the past month to get into regulatory trouble for having lax anti-money laundering controls in place, joining Danske Bank, ING, and Credit Suisse.
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Article
No easy answers for breaking up Big Four in U.K.
The last time the U.K.’s Competition and Markets Authority attempted to break up what is widely referred to as an oligopoly of the audit market by the Big Four audit firms—EY, PwC, Deloitte and KPMG—its actions had the opposite effect.
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Blog
FINMA finds deficiencies in AML processes at Credit Suisse
The Swiss Financial Market Supervisory Authority FINMA has concluded two enforcement procedures against Credit Suisse. In the first procedure, FINMA identified deficiencies in the bank’s adherence to anti-money laundering due diligence obligations. The second procedure relates to a significant business relationship for the bank with a politically exposed person.
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Article
EU proposes new money laundering rules
The European Commission wants to strengthen supervision over banks and other financial institutions to toughen up its fight against money laundering and terrorist financing after admitting that present measures have “failed all too often.”
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Article
English Court of Appeal preserves litigation privilege
An English Court of Appeal decision giving companies the right to protect documentation gathered during an internal investigation is a blow to both U.S. and U.K. regulators, who have grown increasingly concerned that firms may be hiding critical evidence under the guise of it being “privileged.”
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Article
New SFO director will leverage compliance officers’ expertise
Head of the Serious Fraud Office Lisa Osofsky laid out her priorities for the agency in the coming months and provided CCOs a glimpse into what the SFO will expect.
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ArticleU.K. regulator setting global example in facilitating technology growth
FCA-backed sandboxes set up for testing in a live environment have put British RegTech and FinTech ahead of the curve.
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Article
Modern Slavery Act: an emerging picture of non-compliance
A scathing report calls out large number of U.K. agricultural companies for non-compliance with the Modern Slavery Act.
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Article
Business calls for diplomacy to head off ‘no deal’ Brexit
While the U.K. government is advising companies to prepare for the worst, business groups are urging greater diplomatic efforts to ensure a no-deal Brexit doesn’t come to pass.
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ArticleU.K. government preps for ‘no-deal’ Brexit
The U.K. government has outlined a contingency plan to help companies prepare for a worst-case scenario—the “no-deal” Brexit.
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Blog
Royal Mail hit with massive fine for competition breach
Parcel delivery firm Royal Mail is appealing a decision from U.K. communications regulator Ofcom, which determined the company sought to thwart wholesale customer Whistl from competing with its bulk mail delivery service.
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Article
Deal or no deal: Companies prep for Brexit
European organizations are focusing on contingency plans in preparation of a possible “no deal” exit from the European Union.
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Article
EU works to protect firms that invest in Iran from sanction consequences
The European Union has taken steps to protect EU companies from any legal and financial repercussions from investing in Iran as a result of U.S. President Trump’s latest sanctions.
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ArticleA peek at the compliance nightmare of a no-deal Brexit
Though it is still unlikely, a look at the compliance implications (and complications) of a no-deal Brexit is enough to make anyone shudder at the thought.