Denmark’s financial regulator has filed a criminal complaint against Danske Bank for violating market abuse regulations concerning inadequate market monitoring and opposite trades.
Europe
Posted inEurope
EDPB task force to probe TikTok privacy practices
The European Data Protection Board will establish a task force to acquire a more comprehensive overview of TikTok’s privacy practices and coordinate any potential actions against the company.
Posted inAccounting & Auditing
KPMG cites internal control weaknesses in BT Group review
KPMG, in conducting an independent review of BT Group, has expressed the telecommunications company “did not maintain effective internal control over financial reporting” following its accounting fraud scandal.
Posted inAccounting & Auditing
FRC strikes out again as third Tesco probe ends
The U.K. Financial Reporting Council has ended its third and final investigation into the Tesco accounting scandal, yet again failing to find anyone responsible for the overstating of £250 million (U.S. $317.5 million) in profits.
Posted inAnti-Bribery
Europol launches new financial and economic crime body
Europol has created the new European Financial and Economic Crime Center, with the aim of enhancing operational support to EU member states and EU bodies in the fields of financial and economic crime.
Posted inEurope
EDPB challenges Hungary’s GDPR suspension under Article 23
The European Data Protection Board will issue guidelines on the implementation of Article 23 of the GDPR after Hungary’s government used the article to suspend data subject rights until the end of its coronavirus state of emergency.
Posted inAnti-Bribery
Ericsson appoints DOJ-mandated compliance monitor
Ericsson announced the appointment of Andreas Pohlmann as its independent compliance monitor for the next three years in accordance with a deferred prosecution agreement reached with the Department of Justice over FCPA violations.
Posted inAccounting & Auditing
Investigation into EY’s audit of Danske Bank dropped
Denmark’s state prosecutor has dropped its investigation into whether Big Four firm EY violated anti-money laundering laws in connection with its audit of Danske Bank.
Posted inBoards & Shareholders
Analysis: VW ‘deliberately immoral’ ruling pushes governance lessons
A look at a recent court case against car manufacturer Volkswagen once again places the company in the spotlight but, perhaps more importantly, offers some lessons in how to live up to shareholder expectations of good governance that protects their investment.
Posted inEurope
Two years in, GDPR defined by mixed signals, unbalanced enforcement
It’s been two years since the EU’s GDPR went into effect, and we still don’t know how lingering questions about compliance—as well as non-compliance—will be answered going forward.
