If your business uses leather, rubber, wood, beef, palm oil, soy, or paper, then you may need to comply with the EU Deforestation Directive, a new rule intended to ensure that no goods traded in the EU contribute to global deforestation.
Ruth Prickett
Ruth Prickett graduated from Cambridge University with a BA hons in History and has specialized in business and finance journalism for the past 20 years. She was editor of Financial Management, the magazine for the Chartered Institute of Management Accountants, for many years before relaunching and editing Audit & Risk magazine for the Chartered IIA. She has written for a wide range of specialist business titles and drafted white papers and reports for clients including HSBC and Vodafone.
Posted inRegulatory Policy, Supply Chain
U.K. Employment Rights Bill triggers debate over flexibility vs. exploitation
Contract workers’ rights are in the spotlight in the U.K. and some EU countries as governments seek to end exploitative practices by eliminating zero-hours contracts, much to the chagrin of some business leaders.
Posted inEurope
EU businesses will soon have to report on supply chains and sustainability. Not all are ready
Supply chains are about to become the next big thing in sustainability compliance. However, many organizations still lack the data and assurance capabilities to track sustainability and human rights activities across their extended supply chains – which is required by the EU’s CS3D. Many others that fall out of scope of the directive may not realize that, as part of the supply chain, they will need to provide a host of new data to their larger clients.
Posted inRisk Management
New U.K. enforcement body piles pressure on sanctions evaders
Global sanctions rules are increasing rapidly, as are tools to detect and punish those who break them. In response, the U.K. government is creating a new Office of Trade Sanctions Implementation to investigate and penalize those who break sanctions rules.
Posted inRegulatory Enforcement
Budweiser Budvar registration failures show ESG impacts of U.K. noncompliance
Most businesses think more about their products than what they come wrapped in, but a recent U.K. penalty against Czech brewery Budweiser Budvar indicates packaging is an increasingly important element in sustainability regulations.
Posted inRisk Management
Experts warn U.K. money laundering cases to ‘significantly increase’
The U.K. has an ongoing problem with money laundering, but recent changes to economic crime law and corporate registration requirements could bring more cases to court, according to consultancy KPMG.
Posted inEthics & Culture
Q&A: APCC chair on culture challenges facing financial services firms
Julie Ampadu, chair of the U.K.’s Association of Professional Compliance Consultants, spoke to Compliance Week about why culture is the biggest issue facing financial services firms.
Posted inRisk Management
Experts warn FCA review prompts firms to declassify or retain PEPs
The U.K Financial Conduct Authority published findings showing that financial services firms are implementing its guidance on politically exposed persons related to anti-money laundering inconsistently, with experts warning firms of reputational damage arising from potential enforcement.
Posted inFinancial Services
U.K. pension scheme reforms promise funds consolidation for trustees
The U.K. government has signaled new rules for pension trustees and funds consolidation to boost investment, but questions remain on employee financial literacy.
Posted inRegulatory Policy
King’s Speech signals major employment law changes ahead in U.K.
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
