• Blog post

    OECD: Brexit to weaken U.K. economic growth


    The Organisation for Economic Co-operation and Development projected that Britain’s exit from the European Union will result in a sharp slowdown in economic growth in the United Kingdom.

  • Article

    Reform on the horizon, as U.K. preps for next general election


    As U.K. citizens are headed to the polls for the fourth time in four years, the country is headed toward significant corporate governance reforms.

  • Blog post

    U.K. Financial Regulator Issues Priorities for Coming Year


    Image: Title: WheatleyBritain’s Financial Conduct Authority released a laundry list of priorities for the upcoming financial year, pledging to continue work on concerns like poor culture and technological developments while ramping up efforts on financial crime, the pensions sector, and individual accountability. “This is an important day in terms of ...

  • Blog post

    European Commission Probes Antitrust Breaches in Bulgaria, Spain, Belgium


    Image: Title: VestagerThe European Commission handed down a preliminary decision that a Bulgarian state-owned energy concern was breaching antitrust rules by blocking access to the gas supply infrastructure. It is also investigating breaches in Spain and Belgium. Margrethe Vestager, the commissioner in charge of competition policy, said: “We need to ...

  • Blog post

    European Commission Unveils Tax Transparency Package


    Image: The European Commission has unveiled a package of legislative proposals that it hopes will hinder abusive tax practices and aggressive tax planning, by providing greater transparency on what companies pay and where. “Tolerance has reached rock bottom for companies that avoid paying their fair share of taxes, and for ...

  • Blog post

    British Regulator Slaps Bank of Beirut With A Hefty Fine


    Image: Title: PhilippouBritish regulators are taking action after two former Bank of Beirut employees misled the Financial Conduct Authority about whether the bank had complied with orders to boost its financial crime protections. The bank was fined £2.1 million and is temporarily banned from “acquiring new customers from high-risk” locations. ...

  • Blog post

    EU Court Annuls European Location Policy for CCPs


    The General Court of the European Union has overturned a European Central Bank framework requiring large central counterparties (CCPs) dealing with euro-denominated transactions to be located within the Eurozone. The court ruled that the ECB lacked the authority to require CCPs involved in clearing securities to be located within the ...

  • Blog post

    U.K. Financial Regulator Boosting Individual Accountability, Audit Rules


    Image: Title: BaileyThe U.K. Prudential Regulation Authority says individual senior managers of financial firms could face sanctions if a breach occurs in their area of responsibility and it’s proven the manager took no reasonable steps to avoid it. “Our new accountability regime will hold all senior managers, including non-executive directors, ...

  • Blog post

    EU Agencies Slow to Implement Whistleblowing Policies


    Image: Title: O'ReillyDespite a year-old mandate to implement internal whistleblowing rules, only the European Commission and the Court of Auditors have followed through, according to EU Ombudsman Emily O’Reilly. O’Reilly said, “The public needs to know that the EU institutions welcome whistleblowing and protect whistleblowers against retaliation to make ...

  • Blog post

    U.K. Fraud Office Loses Corruption Case, Owes £6M Legal Bill


    Image: The Serious Fraud Office is facing a £6M legal bill after a judge dismissed a case in which the agency attempted to retry six people over an alleged fraud using a legal method known as “voluntary bill of indictment.” Justice Hickinbottom said, “Once the dismissal application had been formally ...