All Europe articles – Page 34
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ArticleEx-Glencore oil trader pleads guilty for role in bribery scheme
A former oil trader for a subsidiary of Glencore entered a guilty plea for his role in bribing government officials in Nigeria in exchange for the award of oil cargoes and more favorable delivery terms.
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ArticleCredit Suisse hires Goldman Sachs veteran as chief risk officer
Credit Suisse Group has appointed longtime Goldman Sachs risk management expert David Wildermuth as its chief risk officer.
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ArticleWhat companies (and the SEC) can learn from U.K. ESG reporting guidance
The U.K. Financial Reporting Council has proposed a series of measures from which companies—as well as other regulators like the SEC—could benefit as ESG disclosures receive closer scrutiny.
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ArticleTikTok fined $883K under GDPR for children’s privacy violations
The Dutch Data Protection Authority imposed a €750,000 (U.S. $883,000) fine on TikTok for violating the privacy of young children following a wide-scale investigation launched last year.
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ArticleFRC 2020/21 audit inspections: KPMG rebuked over continued struggles
The U.K. Financial Reporting Council released the results of its 2020/21 audit quality inspections, in which it singled out KPMG for “unacceptable” deficiencies regarding the firm’s audits of banks and similar entities.
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ArticleNew agency Europe’s latest hope to curb AML struggles
The European Commission unveiled new plans to set up an agency specifically aimed at tackling the region’s spiraling problems with money laundering.
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ArticleSFO secures DPAs worth $3.4M with two unnamed companies
The Serious Fraud Office announced deferred prosecution agreements worth £2.5 million (U.S. $3.4 million) with two unidentified U.K.-based companies for bribery offenses.
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ArticleFCA pledge to be more assertive rings hollow amid enforcement drops
A steady decrease in enforcement activity makes it easy to question whether the U.K. Financial Conduct Authority is in position to become the “more innovative, assertive, and adaptive regulator” it pledges to be.
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ArticleThe debate over AI: Regulate the tech or its use?
Recent comments by Facebook’s top executive in charge of developing AI reignite the debate over whether regulators should be more focused on reining in the technology itself or just the way it is used.
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Article10 years of U.K. Bribery Act: Compliance enough to define law’s success?
The U.K. Bribery Act marked its 10th anniversary this month, but views are mixed about how the legislation and its enforcement have fared in the decade since it came into force.
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ArticleBinance enhancing compliance after recent U.K. ban
The CEO of cryptocurrency platform Binance touted the company’s growing commitment to compliance after one of its units was banned from operating in the United Kingdom.
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ArticleItalian DPA cites biased tech in $3.1M GDPR fine
Italy’s data protection authority fined food delivery company Foodinho €2.6 million (U.S. $3.1 million) because the app at the core of its business model allegedly discriminated against employees.
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ArticleBritish Airways settles 2018 data breach class action
British Airways has settled one of the U.K.’s largest group actions after thousands of people sought compensation following a 2018 data breach that resulted in the airline being fined under the GDPR.
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ArticleCredit Suisse entities to pay $1.5M for swap data reporting failures
The Commodity Futures Trading Commission reached a $1.5 million settlement with three entities of Credit Suisse for swap data reporting failures caused by a technical error.
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ArticleCompliance lessons from Wood Group’s $177M global bribery settlement
John Wood Group reached a $177 million settlement with authorities in the United States, the United Kingdom, and Brazil, concluding legacy bribery and corruption investigations into Amec Foster Wheeler companies.
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ArticlePwC audit facing scrutiny amid Greensill collapse fallout
Big Four firm PwC is under investigation for its audit of Wyelands Bank as part of a larger U.K. review linked to the recent collapse of Greensill Capital.
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ArticleU.K. AML expert convicted of aiding money launderers
A U.K. money laundering prevention expert was found guilty of allowing criminals to use his company to launder the proceeds of an £850,000 (U.S. $1.2 million) investment fraud that resulted in dozens of victims being ripped off.
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ArticleNew tech, legal precedent forcing GDPR to evolve
Companies’ priorities regarding compliance with the GDPR are likely to become more focused because of a mixture of recent legal decisions and efforts by the European Commission to keep privacy rules in sync with changes in technology.
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ArticleEx-Deutsche Bank traders imprisoned for ‘spoofing’ roles
James Vorley and Cedric Chanu, former precious metals traders at Deutsche Bank, were each sentenced to one year and one day in prison for their respective roles in a scheme to manipulate the precious metals markets with fraudulent trades.
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ArticleAML compliance proving tall hurdle for U.K. crypto firms
The U.K.’s financial regulator has been forced to extend a registration deadline for cryptocurrency firms by nearly nine months because so few have been able to meet even basic anti-money laundering requirements.