All Europe articles – Page 26
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ArticleMaking the transition to net zero in the United Kingdom
As the United Kingdom aims to become “the world’s first net zero-aligned financial center,” financial institutions are being required to have “a robust firm-level transition plan setting out how they will decarbonize.” Where should they start?
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ArticleThree lingering questions to arise from KPMG tribunal over Carillion, Regenersis
Details to emerge from the disciplinary tribunal regarding KPMG’s conduct during its work at Carillion and Regenersis could have ramifications for the Big Four firm, the audit profession more widely, and potential future regulation and monitoring.
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ArticleHow Accor manages global data privacy compliance
Marie-Christine Vittet, vice president of compliance at hospitality chain Accor, shares with Compliance Week the company’s journey toward a global data privacy compliance program.
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ArticleCosmote, parent company OTE fined $10.6M under GDPR
The Hellenic Data Protection Authority fined mobile phone operator Cosmote and its parent company OTE a total of €9.25 million (U.S. $10.6 million) for a data breach caused by a September 2020 cyberattack and for illegally processing customer data.
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ArticleMeta threatens to pull Facebook, Instagram in Europe over GDPR data transfer dispute
Meta Platforms is threatening to pull down Facebook and Instagram in the European Union over concerns it cannot meet data-sharing rules set in the region’s General Data Protection Regulation.
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ArticleIAB Europe fined $286K under GDPR for data processing violations
The European arm of the Interactive Advertising Bureau was fined €250,000 (U.S. $286,000) by the Belgian Data Protection Authority for data privacy violations regarding its Transparency and Consent Framework.
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ArticleHiltrud Werner leaves legacy of integrity at Volkswagen
Hiltrud Werner, Volkswagen’s board member and head of integrity and legal affairs who steered the company through its U.S. compliance monitorship post-Dieselgate, discusses her indelible mark on the auto giant and her future aspirations.
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ArticleKPMG facing $1.8B lawsuit over Carillion audits
KPMG is facing a £1.3 billion (U.S. $1.8 billion) lawsuit for missing “red flags” during its audits at failed construction company Carillion, which creditors say was insolvent more than two years before it collapsed.
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ArticleFRC to reinvigorate enforcement efforts ahead of transition to ARGA
The U.K. Financial Reporting Council expects to receive greater staffing and resources to ramp up the number of investigations it carries out over 2022 as it prepares to make way for a new regulator next year.
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ArticleREWE International $9M GDPR fine a lesson in managing subsidiary risk
A recent decision by the Austrian Data Protection Authority against food retailer REWE International underlines the fact parent companies are ultimately responsible for how their subsidiaries manage people’s data, even if the offshoot entity operates separately.
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ArticleItalian DPA fines Enel Energia $30.1M under GDPR over telemarketing practices
Italian energy supplier Enel Energia has been fined €26.5 million (U.S. $30.1 million) under the General Data Protection Regulation for aggressive telemarketing.
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ArticleSwedbank names Britta Hjorth-Larsen as chief compliance officer
Swedbank announced the appointment of Britta Hjorth-Larsen as its new chief compliance officer. She will take over her new duties by Aug. 1 at the latest and join the bank’s group executive committee.
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ArticleNAVEX: Top 10 risk and compliance trends for 2022
Diversity, equity, and inclusion; prioritizing ESG; business continuity; and more highlight the latest edition of NAVEX’s annual list of risk and compliance trends worth monitoring.
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ArticleBumps in road expected as U.K. strives to be climate risk leader
The United Kingdom has paved the way for companies to report on the future financial impact of climate risks, but the process is far from easy and rates of noncompliance—at least initially—could be high.
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ArticleKPMG fined $4.1M for Conviviality audit failings, reaches settlement regarding Regenersis
The U.K. Financial Reporting Council announced sanctions against KPMG regarding its audits at now-collapsed alcohol retailer Conviviality, in addition to a settlement with the Big Four firm concerning its work at software company Regenersis.
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ArticleReport: Financial crime fines down in 2021; AML penalties drop 78 percent
Fines for corporate crimes last year fell by more than half to 8.7 billion euros (U.S. $9.9 billion) from 2020’s total of €20 billion (U.S. $22.6 billion), according to a report released by research firm AML Intelligence.
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ArticleReport: GDPR fines surpass $1B in 2021; breach notifications also rise
Nearly €1.1 billion (U.S. $1.2 billion) worth of fines have been issued against organizations in the past year for violations of the General Data Protection Regulation, according to the latest annual report by law firm DLA Piper.
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FRC expands probe of PwC’s Babcock International audits
The U.K. Financial Reporting Council has expanded its investigation into PwC over its statutory audits of British defense contractor Babcock International Group to include the fiscal years ended March 31, 2019, and March 31, 2020.
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ArticleCredit Suisse chairman resigns over breach of Covid-19 rules
António Horta-Osório, the leader who was supposed to bring stability and accountability back to Credit Suisse, resigned after eight months as chairman following an investigation into his flouting of Covid-19 rules.
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ArticleNSI Act reshapes U.K. acquisition landscape
The U.K. National Security and Investment Act might present “unforeseen” compliance problems for companies wanting to merge with or buy foreign businesses, according to legal experts.