The idea companies can be held “strictly liable” for violations of the European Union’s privacy rules was shot down, following a judgment from Europe’s top court relating to a case involving German property company Deutsche Wohnen.
Europe
Posted inBoards & Shareholders
Ex-BP CEO facing up to $41M in losses over colleague relationship dishonesty
The board of British oil and gas giant BP announced its remuneration determinations after finding former CEO Bernard Looney committed “serious misconduct” in his disclosure of personal relationships with company colleagues.
Posted inEurope
New European AML agency nearing adoption
A new agency to supervise high-risk financial institutions across the European Union regarding their anti-money laundering and countering the financing of terrorism activities gained provisional approval.
Posted inAML, Cybersecurity, Data Privacy, Ethics & Culture, Europe, Financial Services, Regulatory Enforcement, Risk Management, Sanctions, Surveys & Benchmarking
Top ethics and compliance failures of 2023
A virtual currency exchange that sought to mislead regulators, banks failing after ignoring obvious risks, and a manufacturer that sold millions of its products in violation of U.S. export controls are among those that make up CW’s list of the biggest ethics and compliance fails of 2023.
Posted inEurope
Credit Suisse units to pay $10M in SEC mutual fund services case
Three entities of Swiss bank Credit Suisse agreed to pay more than $10 million combined as part of a settlement with the Securities and Exchange Commission for allegedly providing prohibited underwriting and advising services to mutual funds.
Posted inEurope
Experts: More privacy rules, enforcement expected in 2024
Businesses can prepare for a bumpy ride as the 2024 global landscape of data privacy and other related laws and regulations begins to take shape.
Posted inEurope
New U.K. office eyeing 2024 to enforce trade sanctions
The U.K. government is set to establish a new agency to enforce trade sanctions and provide compliance guidance to businesses regarding the country’s sanctions regimes.
Posted inEurope
Unilever facing U.K. probe into green claims
Consumer goods company Unilever will be scrutinized by the U.K. Competition and Markets Authority regarding its marketing of certain products as environmentally friendly.
Posted inEurope
AI Act moves toward final approval
The European Union’s landmark legal framework to regulate artificial intelligence received political agreement, moving one step closer to official adoption.
Posted inEurope
AI in 2024: More business use, more fraud risks
Use of generative artificial intelligence by businesses will ramp up in 2024, as will risk of AI-driven cyberattacks and fraud, according to experts.
