Anti-money-laundering rules are the chief compliance concern for fund managers – and other sectors should take note – according to Isabella Agius, product head, corporate solutions, in the client compliance and regulatory services at Apex Group.
Europe
Posted inEurope
Sanctions enforcement set to increase, but gaps and inconsistency create compliance risks
Geopolitical volatility is causing rapidly changing sanctions regimes, but diverging rules in different jurisdictions create enforcement gaps that are exploited by sanctioned individuals and entities – and the routes used to evade sanctions are constantly developing.
Posted inEurope
European regulators fine banks for compliance failures and warn more investigations will follow
Crédit Agricole and J.P. Morgan were among financial institutions that found themselves in the cross-hairs of the European Central Bank for faulty risk assessments and risk reporting and failing to protect consumers from fraud risks. All of those companies fined also missed compliance deadlines.
Posted inEurope
New EU rules will force companies to come clean on pay
New rules that will be introduced this June will require companies based in the European Union (EU) to explain why some workers are paid more money for the same job and remedy any “unjustified” discrepancies.
Posted inEurope
EU and U.K. demand evidence to back sustainability claims
Businesses must come clean about green. The U.K. and the EU are enhancing and clarifying rules around corporate sustainability claims, with supply chains in their sights.
Posted inEurope
Q&A with Norm Ashkenas, CCO at Robinhood, on compliance challenges, opportunities and being a strategic adviser
Chief among Norm Ashkenas’ priorities is positioning compliance as a strategic adviser, supporting those leading this global expansion in a complex financial services world. He stresses that compliance puts a huge effort into ensuring that it is not seen as a back-office function.
Posted inEurope
Prada cleans up supply chain with zero tolerance for compliance failings
Luxury fashion brand Prada has terminated contracts with over 200 suppliers in the past five years after a focused “zero tolerance” supply chain audit aimed at identifying compliance failings.
Posted inEurope
‘Significant’ rule changes for EU alternative investment funds set for April 16
Significant changes to rules for EU alternative investment fund managers come into force on April 16, but most still have work to do to be compliant, experts warn.
Posted inAccounting & Auditing
French investigators target anticompetitive practices in largest accounting firms
Major accountancy firms in France are under investigation for anti-competitive practices. The French competition watchdog embarked on a series of “unannounced inspections” and removed documents relating to audit and reporting on Jan. 13.
Posted inEurope
EU investigation into Grok may expose problems with DSA rather than compliance failings
The European Commission has launched a formal investigation against Elon Musk’s X under the Digital Services Act over fears that its AI tool Grok may be producing and disseminating illegal material.
