Environmental, social, and governance goals have gained acceptance from senior leadership because of upward pressure from employees, investors, and customers, according to compliance leaders speaking at Compliance Week’s 2024 National Conference.
Europe
Posted inAccounting & Auditing
Grant Thornton UK dinged $51K for pension fund audit lapses
Grant Thornton UK was assessed a penalty of £40,000 (U.S. $51,000) by the Financial Reporting Council for alleged procedure failures affecting the firm’s audit of a local authority’s pension fund.
Posted inEurope
U.K. border controls on EU goods evoke supply chain disruption concerns
The imposition of full border controls on goods entering the United Kingdom from the European Union will affect importers and their EU suppliers, and both are advised to prepare for increased checks, possible delays, and new charges.
Posted inEurope
SEC concludes VW emissions case with $48.8M judgment
Volkswagen Group of America Finance was ordered to pay $48.75 million as part of a final judgment obtained by the Securities and Exchange Commission to resolve historical violations related to the automaker’s emissions scandal.
Posted inEurope
Need to know: How AI Act sets tone for AI regulation
The European Union’s AI Act follows a risk-based approach: the higher the risk the artificial intelligence poses, the stricter the rules. Understanding each category is key to compliance.
Posted inAnti-Bribery
Ericsson: Monitor certified anti-corruption program post-FCPA settlement
Swedish telecommunications company Ericsson announced its independent monitor appointed by the Department of Justice certified its compliance program satisfies the requirements ordered by the U.S. agency following its 2019 Foreign Corrupt Practices Act settlement.
Posted inEurope
New leadership no easy fix for Irish DPC’s GDPR woes
The Irish Data Protection Commission has a new leadership structure, but it is uncertain whether the changes can get the key privacy regulator caught up on enforcement of the General Data Protection Regulation.
Posted inEthics & Culture
U.K. sets recommendations to address misogyny in finance
Sexism, sexual assault, and bullying are rife at financial services organizations, according to a recent report by the U.K. Treasury Committee. “The government and financial regulators have important roles to play in driving change,” the committee said.
Posted inEurope
Big Tech practices draw early scrutiny under Digital Services Act, Digital Markets Act
TikTok and X are under investigation related to their respective compliance with the European Union’s Digital Services Act, while the first three companies probed under the Digital Markets Act include Apple, Alphabet, and Meta.
Posted inEurope
EU regs for energy-efficient buildings raise questions for commercial property
Organizations with property in the European Union should be asking more questions about their sustainability and emissions in light of revised plans to decarbonize buildings across the region.
