- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2019-06-27T14:06:00
Danske Bank has been forced to fire yet another board member—this time for mis-selling thousands of customers a wealth management product that charged excessive fees.
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It is not clear what action Danske Bank will take on the back of its investigation into Europe’s biggest-ever money laundering scandal, but it is a safe bet to think further improving compliance will be on the list.
Denmark’s financial regulator has filed a criminal complaint against Danske Bank over a mis-selling scandal that saw its former interim chief executive get fired in June this year.
Danske Bank, embroiled in a substantial money laundering scandal, has added to its compliance team with the appointment of Simon Kingsbury as head of surveillance & investigation.
P&O Ferries’ dismissal of 800 workers with immediate effect via prerecorded video before consulting unions or employees has united U.K. politicians of all parties to condemn the company. One problem: Its actions appear to be largely legal.
E-commerce giant Amazon has shut up shop in France because the cost of compliance with the country’s COVID-19 emergency measures is deemed to be too high.
European businesses may be putting themselves at risk because they mistakenly believe regulators are prepared to loosen the rules so companies can operate more easily as the coronavirus pandemic lingers on.
