Britain’s Top Banks Escape Breaking Up; CMA Calls for More Clarity
Britain’s Competition and Markets Authority (CMA) has squashed the idea of breaking up some of the country’s largest banks in an effort to improve competition across the industry. After a thorough review, the CMA found that there’s no direct connection between free accounts and competition. Instead, the competition watchdog ...
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Customers Expected to Stay With Big U.K. Banks Despite the CMA’s Move to Improve Competition
A report by research firm Pinset Masons and YouGov, reveals that 16 percent of customers would likely switch to a “challenger bank” like Metro or TSD within the next two years. These findings come after the British Competition Authority’s recommended the country’s biggest lenders to provide more information around ...
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PremiumEU moves to simplify GDPR and AI Act obligations, raising compliance questions for companies
For the past decade, Europe has led in creating strong but flexible rules for data use and safe AI development. The EU’s new plans to simplify key data privacy and AI governance measures have received a mixed response.
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ArticleFormer Credit Suisse compliance officer charged with money laundering
A compliance officer is facing charges for laundering $7 million in a complex legal case in Switzerland. Swiss prosecutors have charged Credit Suisse, and one of its former employees, with failing to maintain adequate controls.