- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2023-02-07T21:14:00
Labor laws in European countries might not be as clear as some employers believe, especially when companies try to engage workers as freelancers rather than full-time employees.
Recent cases culminating in fines, repayments, and compliance costs have shone a spotlight on how some companies operate in the “gig economy,” as well as how difficult it might be for businesses to legitimately contract out work on a rolling basis.
Toward the end of January, Spain’s labor ministry fined app-based food delivery company Glovo 56.7 million euros (then-U.S. $61.7 million) for breaking the country’s labor laws aimed at protecting gig economy workers, according to multiple reports, including from Spanish newspaper El Confidencial.
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Spain’s labor ministry fined the Big Four accountancy firms at least €1.4 million (U.S. $1.5 million) total for overworking and underpaying their respective employees, continuing a recent trend in the country of the government cracking down on apparent labor violations.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
Securities and Exchange Commission Chair Gary Gensler will step down from his position as the top U.S. regulator of Wall Street when Donald Trump is sworn in as president on Jan. 20, ending weeks of speculation about his future.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
