All Europe articles – Page 34
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ArticleFive challenges for European CCOs heading into 2021
Many of the problems European compliance officers faced in 2020 will remain in place going into the new year, but new risks and new regulations will also present new challenges.
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ArticleRecord year of FCPA enforcement a sign of more to come in 2021
Major bribery scandals, record enforcement actions, unprecedented cross-border coordination and prosecutions—all this amid a global pandemic made 2020 an unforgettable year for FCPA enforcement.
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ArticleCompanies should create ‘Ombuds’ function to meet EU whistleblower rules
The creation of an independent, competent “Ombuds” function could be used by companies to respond to certain key requirements in the EU’s Whistleblower Protection Directive.
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U.K. firm BlueCrest fined $170M for violating U.S. securities laws
U.K.-based investment fund BlueCrest Capital Management has agreed to pay $170 million as part of a settlement with the SEC for allegedly violating anti-fraud provisions of U.S. securities laws.
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PremiumTop ethics and compliance failures of 2020
From a massive accounting fraud scandal in Germany to deceitful consumer tactics among China-based companies to unethical practices on the environmental front in the United States—CW’s list of the top ethics and compliance failures of 2020 spans the globe.
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ArticleNorway’s DNB facing potential $45M AML fine
DNB ASA, Norway’s largest financial services group, is facing a potential fine of NOK 400 million (U.S. $45.4 million) for inadequate compliance with the Norwegian Anti-Money Laundering Act.
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ArticleFive compliance triumphs from 2020
CW reveals its list of five compliance wins from the year, including Samsung for its honesty, Volkswagen for successfully wrapping up its monitorship, 3M for stellar ethics, and more.
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ArticleReport shows Big Four stranglehold in U.K. near unavoidable
A review by the U.K. Financial Reporting Council found large companies will instinctively hire a Big Four firm as auditor, despite efforts by the regulator to break their dominance and open up the country’s audit market to smaller competitors.
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ArticleU.K. corporate watchdog rips company reporting as ‘box-ticking exercise’
Not for the first time, the U.K.’s corporate governance regulator has said it is disappointed to see company reporting “does not demonstrate the high quality of governance” it expects.
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ArticleSBM Offshore FCPA case ends, Swiss investigation begins
SBM Offshore confirmed it has reached the end of its three-year deferred prosecution agreement with the Department of Justice for FCPA violations, but the oil and gas services company is now facing a fresh corruption investigation from Swiss enforcement authorities.
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ArticleTrio of U.K. fines expose third-party risks under GDPR
Recent GDPR fines against British Airways, Marriott, and Ticketmaster by the U.K. Information Commissioner’s Office each saw the regulator dismiss claims by the companies that third parties were primarily responsible for the data breaches in question.
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ArticleLookers discloses $60.5M loss following accounting fraud probe
After delaying for eight months its 2019 audited financial statements, U.K. car dealership chain Lookers has disclosed a £45.5 million (U.S. $60.5 million) loss following discovery of accounting fraud by a former employee.
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ArticleVodafone Italy fined $14.5M under GDPR for telemarketing tactics
The Italian arm of multinational telecommunications company Vodafone is facing a fine of more than €12.25 million (U.S. $14.5 million) under the General Data Protection Regulation for aggressive telemarketing practices.
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ArticleBiden will tread carefully on sanctions, seek international consensus, experts say
Experts believe President-elect Joe Biden will likely take his time before making big moves to unwind the dizzying array of sanctions levied by his predecessor, President Donald Trump.
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ArticleCrackdown on culture part of widespread regulatory push
A recent ruling by the U.K. Financial Conduct Authority to ban three individuals from the financial services industry for out-of-work misconduct is part of a broader push by regulators to crack down on matters related to culture, writes Martin Woods.
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ArticleWhatsApp Ireland reserves $91.8M for potential GDPR fine
The Irish arm of WhatsApp has set aside $91.8 million for possible administrative fines arising from long-standing investigations by Ireland’s data regulator into the way the messaging platform shares data with Facebook.
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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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ArticleAirbnb in talks with OFAC regarding potential sanctions violations
Airbnb said in a regulatory filing that it has been in discussions with the Office of Foreign Assets Control regarding user activity on its platform that may be in violation of U.S. sanctions laws.
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ICA partnership offers AML education in Lithuania
The International Compliance Association announced a partnership with Kazimieras Simonavičius University in Lithuania to offer the ICA’s full suite of professional qualifications.
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ArticleISS 2021 proxy voting updates address racial, ethnic, gender diversity
Proxy advisory firm Institutional Shareholder Services released updates to its 2021 benchmark proxy voting policy, with the biggest changes this year addressing racial, ethnic, and gender diversity on boards.