Legal experts are unconvinced record fines against audit firms imposed last year by the U.K. Financial Reporting Council will necessarily improve audit quality.
Europe
Posted inAccounting & Auditing
Mixed reactions to new U.K. pensions code of practice
Lawyers and accountants in the United Kingdom have welcomed the publication of The Pensions Regulator’s new pensions code of practice but warned it might not improve the management of those that are not already well run.
Posted inEurope
EU nearing tighter AML rules for crypto, luxury traders
The European Union moved closer to finalizing rules that would expand current anti-money laundering and customer due diligence obligations to new sectors, in addition to granting greater powers to national financial intelligence units.
Posted inAccounting & Auditing
U.K. push for more listings to lower bar on governance?
Moves by the U.K.’s financial regulatory body to encourage companies to list in London might fail to deliver or send mixed messages about the value placed on corporate governance, according to experts.
Posted inEurope
AMLA impact dependent on national collaboration
The impact of the Anti-Money Laundering Authority to improve the coordination and success of AML activities will be largely indirect, depending on its influence over European national governments continuing to supervise most EU financial services firms.
Posted inBoards & Shareholders
Disclosure rules not enough to curb U.K. salary gaps
The issue of “fat cat” pay awards was reignited in the United Kingdom after a think tank found a typical FTSE 100 CEO earned the average annual salary for a full-time worker after just four days into the new year.
Posted inAnti-Bribery
Lessons from Albemarle, ABB: How data-driven compliance can help your firm
Andrew McBride, chief risk officer of Albemarle Corp., and Tapan Debnath, head of integrity, regulatory affairs and data privacy at ABB, discussed how and why their respective organizations use data analytics to conduct business as part of a recent webcast.
Posted inEurope
GDPR-minded Microsoft offers cloud customers EU-based personal data storage
Microsoft announced an expansion to its European Union data storage efforts that would allow cloud customers to keep all personal data stored within the EU boundary.
Posted inAccounting & Auditing
SAP to pay $220M in FCPA settlements
German-based software company SAP agreed to pay more than $220 million as part of resolutions with authorities in the United States and South Africa regarding alleged violations of the Foreign Corrupt Practices Act.
Posted inEurope
MAS fines Credit Suisse $3M for failing to monitor Singapore managers
The Monetary Authority of Singapore imposed a 3.9 million Singapore dollars (U.S. $3 million) penalty on Credit Suisse for failing to detect misconduct by relationship managers at its Singapore branch.
