Financial firms continue to flout rules designed to protect investors from being misled about the true value of financial products, according to a recent bulletin from the U.K.’s Financial Conduct Authority.
Europe
Posted inEurope
New European AML agency to be based in Germany
The European Union’s recently approved Anti-Money Laundering Authority will be based in Frankfurt, Germany, and begin operations in 2025.
Posted inEthics & Culture
Compliance’s role in managing challenges related to employee side hustles
Employees engaging in side businesses—part-time jobs or new company creations—can introduce a myriad of risks for a company.
Posted inEurope
Experts: No easy fix for U.K. senior manager accountability shortcomings
Legal experts generally agree the U.K.’s record for prosecuting board-level executives for financial and economic crime could be better. But some believe there is a problem criticizing poor enforcement when the legislation in place has its own shortcomings.
Posted inEurope
Lloyds discloses FCA probe into AML controls
Lloyds is the latest U.K. financial institution being probed by the Financial Conduct Authority regarding its anti-money laundering control framework.
Posted inEurope
Barclays says FCA probe into AML controls closed
Barclays Bank disclosed an investigation by the U.K. Financial Conduct Authority into the bank’s anti-money laundering controls has closed without a penalty.
Posted inEthics & Culture
U.K. labor shortage stakes up following tripled illegal worker fines
Fines for employing people who do not have a legal right to work in the United Kingdom have risen, meaning employers who fail to carry out the required checks or neglect to re-examine the status of those on temporary work visas could face substantial penalties.
Posted inEurope
SFO raids kick off probe into collapsed Signature Group
The U.K. Serious Fraud Office carried out several residential raids as it announced the launch of a criminal investigation into collapsed property investment firm Signature Group.
Posted inEurope
Public consultation on GDPR opens door for changes
Feedback from a European Commission consultation on the six years of enforcement of the General Data Protection Regulation could result in tweaks to the rules and potential changes to the way data protection authorities enforce them.
Posted inEthics & Culture
Q&A: ManpowerGroup compliance director on CSRD prep efforts
James Levey, compliance director at global recruitment agency ManpowerGroup, discusses with Compliance Week his focus on preparing the group’s European operations to gather the data required for compliance with the EU’s Corporate Sustainability Reporting Directive.
