Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
Neil Hodge
Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal issues for a wide range of publications in the United Kingdom and United States.
Posted inRegulatory Enforcement
Employees may fail to report fraud unless U.K. whistleblower protection is beefed up
In September, the U.K. will enforce its third “failure to prevent” offense under sweeping anti-corporate crime laws, but experts question whether it will actually change corporate behavior or embolden whistleblowers.
Posted inFinancial Services
U.K. proposes streamlining regime meant to hold fin serve executives to account
When growth slows, governments often cut rules to attract investment, as the U.K. has in its financial services sector, which contributes 8.8% of GDP, but easing the “compliance burden” raises concerns about oversight, governance, and prioritizing profits over safety.
Posted inTechnology
U.K. regulator urges auditors to explain AI use in audits
Plans to push audit firms to disclose how they use AI in audits have been broadly welcomed, but concerns remain over how corporate data is used, secured, retained, and potentially exposed.
Posted inData Privacy
10 tips to comply with the U.K.’s new data law
Changes to the U.K.’s privacy regime will immediately affect how companies handle AI-driven decisions, cookie usage, and responses to data subject requests. As a result, experts are warning compliance teams to ensure their organizations take the legislation seriously and make plans to review data governance.
Posted inEurope
U.K. hopes to create ‘third way’ in AI regulation between EU and U.S.
The U.K.’s data regulator has unveiled a new enforcement approach to AI development and usage that experts say seeks to carve a middle way between the strict rules applied by the European Union (EU) and the pro-industry, light-touch regime favored by the U.S.
Posted inEurope
U.S. tariffs and compliance: what U.K. and EU companies need to consider
Tariff risk has probably rarely featured on many companies’ risk registers in recent years, but it now likely sits high on the agenda because of President Donald Trump’s tariff focus.
Posted inRegulatory Enforcement
FCA drops ‘naming and shaming’ approach – except in ‘exceptional circumstances’
The UK’s financial regulator has had a rough ride over the past couple of years as its strategy to “name and shame” firms it opened investigations into was widely slammed by the industry and lawmakers over concerns that companies could be unfairly maligned.
Posted inRegulatory Enforcement
Crypto firms brace for tighter UK oversight as FCA plots integration with financial markets
Trying to put rules in place to oversee an industry that has grown largely outside of regulation is not without serious challenges. But the UK’s Financial Conduct Authority’s (FCA) latest consultation aims to attract industry views about how some key aspects of crypto trading should be regulated ahead of planned legislation due to come into effect next year.
Posted inData Privacy
Seven years in, GDPR faces growing challenges from AI and ‘consent or pay’ models
Europe’s pioneering data protection legislation turned seven years old in May, but the compliance and enforcement difficulties that have dogged the rules since they came into force look set to present both companies and data regulators with fresh headaches for some time to come.
