All Europe articles – Page 76
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Blog
EU watchdogs temporarily green-light Privacy Shield
European Union data protection authorities indicated in a recent statement that they will hold off for at least one year any new challenges to the EU-U.S. Privacy Shield. But legal challenges from others concerning its provisions could be on the horizon. Jaclyn Jaeger reports.
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BlogPanama Papers: Mossack Fonseca linked to offshore deals in Africa
A new round of investigations on the Panama Papers conducted by the International Consortium of Investigative Journalists (ICIJ) this week revealed that Panama-headquartered law firm Mossack Fonseca established offshore companies to own, hold, or do business with petroleum, natural gas, and mining operations in 44 of Africa’s 54 countries—many of ...
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Blog
EU tackles tax abuse in the wake of Panama Papers
The Panama Papers document leak shed much light on a deep and pervasive effort to evade taxes. Since then, the European Union has passed a number of new rules to improve tax transparency and close tax loopholes. According to CW’s Paul Hodgson, the EU is only just getting started.
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BlogChange to U.K. CEO pay or regulation seen as inevitable
As experts examine what really drove the Brexit-empowering “leave” vote, a recent PwC report shows that widespread dissatisfaction with what is seen as excessively high levels of top executive pay in the U.K. is an issue larger than the Brexit itself. It pinpoints something companies can address on their own...or ...
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Blog
Theresa May’s post-Brexit, Euro-style governance reforms
Out of the post-Brexit chaos, Home Secretary Theresa May is poised to become the new U.K. Prime Minister. She supported Remain, but stands by Brexit, so where will she steer the ship? Her first speech gives some indicators, and Brexiters might not like the sound of them. Paul Hodgson has ...
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Article
Brexited: what lies ahead for the United Kingdom
The fallout continues after the United Kingdom’s historic vote to leave the European Union. As the reality of it sets in, Paul Hodgson looks at what Brexit will mean for the U.K. financial markets, political landscape, and compliance needs.
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Blog
MasterCard faces £19bn legal battle over illegal card charges
MasterCard is facing a £19 billion class-action lawsuit for anticompetitive conduct, making it the biggest claim in U.K. history. The landmark case is notable for another reason, as well: It will be the first case filed under the Consumer Rights Act. Jaclyn Jaeger has more.
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BlogFRC announces investigations into KPMG and PwC
The U.K. Financial Reporting Council, an independent investigative body that monitors and enforces accounting standards, is looking into audits made of financial services companies in the days preceding the global financial crisis of 2008-2009, starting with a delve into the work of two key accountancy firms—KPMG and PwC. Paul Hodgson ...
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ArticleMore regulatory questions than answers following Brexit vote
CW reporter Joe Mont explores the aftermath of the Brexit vote (the United Kingdom’s recent decision to depart from the European Union): what do U.S. companies need to know; what questions require a strategic response; and where do we all go from here?
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BlogA roadmap toward executive-level gender diversity in the U.K.
The United Kingdom’s struggle for executive-level gender diversity continues, especially in the financial services sector, where only 23 percent of board directors and only 14 percent of executive committee members are female. The Women in Finance Charter offers a roadmap for how to address this, with a stern warning: Organizations ...
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BlogMore regulatory questions than answers following Brexit vote
Expect more questions than immediate answers following the “Brexit” vote, a decision that sees the United Kingdom leaving the European Union. While the country has its own regulatory regimes, it was also a party to many EU-wide regulations that may either stay in effect, be revised, or cast aside in ...
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Article
New blood at the Serious Fraud Office
A report from Her Majesty’s Crown Prosecution Service Inspectorate has attacked the Serious Fraud Office for being a largely white, all-male board. Paul Hodgson examines the merits of the report and the SFO’s response.
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BlogBrexit: ‘Don’t leave me this way’
“Don’t leave me this way,” screams a headline from Dutch daily Algemeen Dagblad. The Netherlands fears Britain’s exit will be bad for its reputation. Paul Hodgson reports.
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Blog
FCA advises on new EU Market Abuse Regulation
The Financial Conduct Authority has published changes to its handbook, “Disclosure Guidance and Transparency Rules,” to help U.K.-listed companies comply with new EU Market Abuse Regulation (MAR) from 3 July this year. The handbook and MAR cover a very wide range of “market abuse” issues, such as insider dealing, improper ...
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Blog
FCA must not drop the ball on banking culture reforms
The U.K. Parliament’s Public Accounts Committee has issued a report that is not only deeply critical of the FCA’s decision to suspend its culture review of banks but also warns of “serious risks” of future mis-selling scandals. Paul Hodgson examines the report’s impact on U.K. bank culture.
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BlogOECD: More countries commit to tackle tax evasion
The Organization for Economic Cooperation and Development and the Global Forum on Transparency and Exchange of Information for Tax Purposes has announced that Bahrain, Lebanon, Nauru, Panama, and Vanuatu are now committed to sharing financial account information automatically with other countries. Jaclyn Jaeger has more.
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BlogFRC: What investors should expect in company records
Stephen Haddrill, chief executive of the U.K.’s Financial Reporting Council, wrote a letter to investors highlighting recent changes to companies’ annual reports and advising investors on what to expect in the coming crop. The report is “intended to be an important source of forward-looking information about strategy and risk,” he ...
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Blog
New EU auditor rotation rules have auditors playing musical chairs
Are companies ready for new EU-wide auditor rules coming in June? A survey commissioned by Big Four firm EY of 100 senior-level executives and non-executives in the FTSE 350 finds that while a majority, 83 percent, understands the rotation rules, only 42 percent have a plan in place. More than ...
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Blog
Complying with Brexit
As the United Kingdom gets ever closer to withdrawing from the European Union, no small amount of economic turmoil and compliance headaches are sure to follow. For compliance officers at companies doing business in Europe and the United Kingdom, the possibility of a Brexit provides the sort of job security ...
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Blog
How to stop banks from behaving like banks
In the never-ending quest to address the systemic risk posed by the banking industry, a team of academics and the Banking Standards Board have raised fresh initiatives to improve banking regulation itself. But are a globally imposed “risk tax” and a push to improve banking culture really what banks need?