The U.K. Financial Conduct Authority issued a fine of £31,800 (U.S. $40,000) against a former compliance director at London Capital & Finance for allegedly approving misleading promotions that led to investor deception.
Europe
Posted inEthics & Culture
The blurred lines of employee monitoring under GDPR
The French data regulator’s fine against an Amazon warehouse manager for violating employees’ rights to privacy in the workplace once again raises questions about what constitutes an overzealous approach to employee monitoring and why companies fail to recognize the signs.
Posted inEthics & Culture
Examining precedent set by French DPA’s Amazon employee monitoring fine
The decision by France’s data regulator to fine an Amazon warehouse manager for breaches of the General Data Protection Regulation over the way it monitored employee productivity raises questions about the reach data protection authorities have over corporate conduct.
Posted inEurope
Uber facing $11M fine over driver privacy rights violations
Ride-hailing company Uber Technologies was assessed a penalty of €10 million (U.S. $11 million) by the Dutch Data Protection Authority for alleged privacy rights violations regarding the handling of European drivers’ personal data.
Posted inEurope
Jury out on viability of AI in ESG reporting
Tech vendors believe ESG reporting is a ripe market for artificial intelligence to help companies sift through data and ensure compliance with both mandatory and voluntary reporting standards. Compliance officers appear less sure.
Posted inAccounting & Auditing
Q&A: LKQ sustainability VP on importance of environmental data
Richard Brasher, vice-president of sustainability at multinational automotive parts company LKQ Corp., discusses with Compliance Week his view on the added attention sustainability initiatives are receiving and where improvement remains.
Posted inEurope
PRA fines HSBC units $73M over deposit protection failures
The Bank of England’s Prudential Regulation Authority penalized two HSBC units £57.4 million (U.S. $73 million) over historic failures in deposit protection identification and notification.
Posted inEurope
Meta’s ‘pay or consent’ model to force GDPR to adapt?
Experts weigh in on Meta’s plans to charge EU users monthly if they do not want to be tracked for online advertising and what the ramifications of the model would mean for the future of the General Data Protection Regulation.
Posted inBoards & Shareholders
Consultation opens debate on proposed U.K. cyber governance code
Cybercrime is regularly cited as a leading concern for executives, yet board oversight of cyber risks is often inadequate and governance poorly understood, according to the authors of a proposed U.K. code of practice on cybersecurity governance.
Posted inEurope
The pros and cons of generative AI in AML compliance
Generative artificial intelligence providers often promote their technologies as revolutionary tools that can enhance anti-money laundering processes. But the issues and shortcomings associated with the technologies must also be acknowledged.