All articles by Aarti Maharaj – Page 6
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Blog
EU Antitrust Regulators Focus on e-Commerce
Image: The European Union is looking into the possible breach of antitrust laws in e-commerce practices. The inquiry may lead to enforcement actions against companies that restrict online sales and “abuse” their dominant position in the market. Margrethe Vestager, the EU’s antitrust chief, said that although the investigation will produce ...
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Blog
Bank of England and ECB Reach Deal on Financial Stability
The Bank of England and the European Central Bank have ended a four-year saga over the City of London’s clearinghouses, which required that these offices be near the Eurozone so they can be easily monitored in the event of an emergency. Under the agreement the BoE will provide the ECB ...
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Blog
U.K. Watchdog to Hold Senior Managers Accountable
British banking regulators have released new guidelines to improve individual accountability in the banking sector. In the event of misconduct, senior managers who are capable of “causing significant harm” to a bank, or can threaten the integrity of financial markets, will now be held accountable in an investigation. Details inside.
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Blog
Germany's Push For Gender Diversity in the Boardroom Gains Traction
A shifting regulatory landscape in Germany has paved the way for more women to hold supervisory seats in the boardroom. To promote greater gender diversity, across the board, this regulation sets quotas on the country’s public and private sectors. Now, corporate Germany will have to award at least 30 percent ...
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Blog
Credit Suisse CEO Ousted After Tax Plea
Credit Suisse CEO Brady Dougan is stepping down after the bank pleaded guilty to criminal charges and violation of U.S tax laws, which resulted in $2.8 billion in fines by U.S regulators. The Swiss bank named Tidjane Thiam, Prudential’s current CEO, as Dougan’s successor. More inside.
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Blog
Google Realigns Amid Regulatory Heat
Google’s executive chairman Eric Schmidt met with the EU’s new antitrust chief on Monday. The search engine giant is being scrutinized by regulators for engaging in anticompetitive practices, potential antitrust violations, and oversight of privacy issues. In response to the mounting regulatory pressure, the company has realigned its European operations. ...
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Blog
Europe’s Banks at Risk for Security Breaches
Significant loopholes exist in many of Europe’s top banks, and concerns about cyber-breaches have skyrocketed, according to a new European Commission report. Despite the sheer complexity of IT systems, hackers have still made their mark on the financial services industry over the years. While banking IT systems have become more ...
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Blog
Dealing With Corruption in Public Procurement
The European Commission estimates that roughly €120 billion is lost annually to public procurement corruption. While the competition for government contracts continues to intensify, there are more opportunities for companies and potential clients to engage in unethical business practices, which can result in serious penalties and reputational damage. Here are ...
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Blog
Compliance, Regulator Pressures Pile Up at HSBC
Recent scandals at banking giant HSBC have caused regulators to shift their attention to senior executives. According to news reports, Group Chairman Douglas Flint and Chief Executive Stuart Gulliver have come under scrutiny after journalists obtained “secret documents” stating that HSBC’s Swiss private banking arm failed to conduct sufficient due ...