A recent ruling by the U.K. Financial Conduct Authority to ban three individuals from the financial services industry for out-of-work misconduct is part of a broader push by regulators to crack down on matters related to culture, writes Martin Woods.
Europe
Posted inEurope
WhatsApp Ireland reserves $91.8M for potential GDPR fine
The Irish arm of WhatsApp has set aside $91.8 million for possible administrative fines arising from long-standing investigations by Ireland’s data regulator into the way the messaging platform shares data with Facebook.
Posted inEurope
Cryptocurrency’s future: What compliance needs to know
Cryptocurrency is complicated, but it’s not going away anytime soon. David Povey of the ICA takes a look at what regulators are trying to do and offers tips on where compliance officers can go to study this complex topic further.
Posted inEurope
German court cuts 1 & 1 Telecom GDPR fine by 90 percent
Continuing a recent trend of massive fine reductions under the General Data Protection Regulation, 1 & 1 Telecom in Germany had its €9.55 million penalty issued last year reduced to €900,000 (U.S. $1.06 million) by a German court.
Posted inEthics & Culture
U.K. eyes history with climate change disclosure plan package
Financial services firms in the United Kingdom must soon begin reporting what material financial impact they experience from climate change under a new disclosure mandate that is the first of its kind in the world.
Posted inEurope
Ticketmaster UK fined $1.6M under GDPR for 2018 data breach
The U.K. Information Commissioner’s Office fined Ticketmaster £1.25 million (U.S. $1.6 million) for its failures relating to a 2018 data breach by a third party.
Posted inEthics & Culture
Volkswagen CCO Kurt Michels: Tips for surviving a monitorship
Fresh off his company’s compliance monitorship, Volkswagen CCO Kurt Michels shares ways to cultivate a trustful relationship with a monitor; finesse a company’s cultural makeover; and reestablish credibility in the wake of criminal behavior.
Posted inEurope
EDPB issues guidance for safe data transfers post-Privacy Shield
The European Data Protection Board has issued guidance to help companies transfer data to the United States and other third countries safely after Europe’s top court in July ruled key methods used up until then were either invalid or unsafe.
Posted inEurope
U.K. watchdog seeks disclosures on COVID-19, climate change
COVID-19 and its impact on operations and the bottom line tops the Financial Reporting Council’s list of what it wants to see in company reports for 2021.
Posted inEurope
BA, Marriott fine reductions latest wrench in GDPR enforcement harmony
Lack of clarity on fines has dogged the GDPR since it took effect in May 2018, and the recent dramatic penalty reductions handed down by the U.K. in the cases of British Airways and Marriott certainly won’t help.
