Julius Baer has set aside nearly $80 million in a proposed settlement with the Department of Justice regarding the agency’s corruption investigation linked to world soccer federation FIFA.
Europe
Posted inBoards & Shareholders
VW integrity chief: Company culture has changed … and we have stress test to prove it
In a Q&A with Compliance Week, Volkswagen integrity chief Hiltrud Werner said that while compliance efforts “never have a finish line,” the company has made great strides since Dieselgate.
Posted inAnti-Bribery
Bombardier cooperating with SFO corruption investigation
The U.K. Serious Fraud Office is investigating plane maker Bombardier over suspected bribery and corruption in relation to contracts and orders from Indonesian airline carrier Garuda Indonesia.
Posted inAccounting & Auditing
ESMA review slams German authorities’ supervision of Wirecard
A damning report by the EU’s securities markets regulator found numerous shortcomings in German authorities’ supervision of Wirecard’s financial reporting leading up to its collapse surrounding a $2 billion accounting scandal.
Posted inEurope
Working together to stop money laundering: A conversation with Marcus Pleyer
Dr. Marcus Pleyer, president of the Financial Action Task Force, emphasized his commitment to stopping money laundering in a wide-ranging and forward-looking discussion at the ICA’s BIG Compliance Festival.
Posted inEurope
Manchester Arena tragedy offers stark lesson in training importance
As the public inquiry into the Manchester Arena bombing of 2017 plays out in the United Kingdom, lessons can be gleaned on the importance of providing thorough and complete training to employees in all fields.
Posted inEthics & Culture
CCO Philippe Vollot has a plan for Danske Bank’s compliance reboot
Danske Bank CCO Philippe Vollot knows his journey to build a robust compliance program and culture at the troubled lender is far from over.
Posted inEurope
In second drastic reduction, ICO fines Marriott $23.8 million
The Marriott GDPR fine handed down by the U.K. Information Commissioner’s Office is less than 20 percent of the original number the regulator proposed, the second time this month such a drastic reduction has taken place.
Posted inAnti-Bribery
Airline Services Ltd to pay $3.9M, agrees to DPA in bribery case
The U.K.’s Serious Fraud Office has levied penalties worth nearly £3 million (U.S. $3.9 million) against defunct aircraft refurbishing company Airline Services Limited for violating the country’s anti-bribery laws.
Posted inAccounting & Auditing
FRC review deems major audit quality at Grant Thornton UK, Mazars ‘unacceptable’
The U.K. Financial Reporting Council has singled out audit firms Grant Thornton and Mazars as needing to significantly improve audit quality in the wake of recent inspection findings.
