Europe

Broadridge Financial Solutions this month announced that it has enhanced its corporate governance solution offering in Europe by taking a minority stake and entering into an exclusive distribution and marketing alliance with AMA Partners. AMA is a Netherlands-based firm and provider of DirectorInsight, an analytics platform that offers data and analytical tools for independent analysis of corporate governance and executive compensation.

Eurozone nations have yet to reach a deal regarding the new controversial European financial transactions tax, but they could reach an agreement by mid-2016. The proposal received support from 10 nations—with the exception of Estonia, which cited concerns about the January 2016 implementation deadline. Industry analysts believe that even while getting countries to sign on, it does not cut back on the systemic risks that exist.

It has finally come to pass: the first deferred-prosecution agreement under the U.K. Bribery Act. From the role of judicial oversight (greater than that in the United States) to the final statement of facts (much greater than that in the United States), the settlement with ICBC Standard Bank is full of lessons for compliance officers to weigh. Inside, our columnist Tom Fox works through the DPA and starts the pondering. More inside.

The Bank of England (BoE) recently released the results of its latest round of stress tests, which involved seven of the biggest U.K. lenders. While some of the banks emerged from the tests relatively unscathed, Royal Bank of Scotland and Standard Chartered fell below the minimum capital requirements needed to weather another financial crisis. The BoE said that it did not require a revised capital plan from any of the banks tested. More inside.

Image: The European Central Bank’s transparency woes continue as Ombudsman Emily O’Reilly is urging the central bank to build a robust rules of engagement practice by putting a stop to banker meetings ahead of setting policy. O’Reilly said ECB officials should not give investors any advantage over rivals prior to setting policy such as interest rates. Details inside.

Deutsche Bank Chief Executive John Cryan said earlier this week that bonuses don’t necessarily make bankers work harder; instead some employees feel that they are entitled to an outsized incentive despite bad performance. Cryan’s message come weeks after a warning was issued at Deutsche Bank about rewarding staff with new-year bonuses in light of fines the bank incurred for misconduct. Details inside.

German investigators have launched a new criminal probe into Volkswagen (VW) in light of the automaker’s recent emissions scandal. Prosecutors are examining five suspects who might be involved in this investigation. An Irish Times report said that prosecutors in Braunschweig are now investigating tax evasion allegations at the scandal-ridden German automaker. The prosecution is looking […]