All Europe articles – Page 35
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ArticleCredit Suisse compliance chief steps down in Archegos collapse aftermath
Credit Suisse Chief Risk and Compliance Officer Lara Warner has stepped down from her role and left the company following the bank’s loss of an estimated $4.7 billion due to the meltdown of hedge fund Archegos Capital Management.
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ArticleBooking.com fined $557K under GDPR for reporting data breach late
Online reservation Website Booking.com has been fined €475,000 (U.S. $557,000) by the Dutch Data Protection Authority for reporting a data breach 22 days later than the 72 hours required under the GDPR.
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ArticleU.K. AML update: New obligations for cryptocurrency firms
Mark Steward, executive director of enforcement and market oversight at the U.K. Financial Conduct Authority, recently shared insights into the agency’s pipeline of AML investigations and what lies ahead for regulated firms.
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ArticleHow might U.K. mandate for audit to find fraud work in practice?
Experts weigh in on the hurdles to be overcome and clarifications needed if U.K. auditors are going to be mandated to detect and prevent fraud as spelled out in new proposals.
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ArticleMoody’s fined $4.4M for European conflict-of-interest violations
Five European subsidiaries of Moody’s Corp. have been fined a total of €3.7 million (U.S. $4.4 million) by the European Securities and Markets Authority for violating conflict-of-interest rules.
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ArticleDeutsche Bank restructures compliance amid leadership overhaul
Deutsche Bank announced a series of changes to its management board, including the upcoming departure of Chief Risk Officer Stuart Lewis and transition of compliance responsibilities to Chief Administrative Officer Stefan Simon.
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ArticleVolkswagen to seek damages from former CEOs over Dieselgate
Volkswagen’s supervisory board has accused former CEOs Martin Winterkorn (Volkswagen) and Rupert Stadler (Audi) of negligent breaches of duty during the diesel scandal.
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ArticleLocal laws proving to be roadblocks for GDPR harmonization
Recent cases in Germany, France, and Austria underscore the difficulty of getting EU members on the same page regarding GDPR enforcement—particularly when other local laws take priority.
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ArticlePopular Clubhouse app being probed for GDPR violations
France’s data privacy watchdog adds to a growing list of regulators that have launched investigations into Alpha Exploration, the publisher of the Clubhouse application, regarding measures it has taken (or not taken) to comply with the GDPR.
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ArticleSFO closes bribery investigation into KBR’s U.K. subsidiaries
The Serious Fraud Office announced it closed its bribery and corruption investigation into the activities of KBR’s British subsidiaries and employees, weeks after the U.K. Supreme Court unanimously ruled the agency breached its authority in the case.
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ArticleItalian court acquits Eni, Shell of corruption charges
An Italian court acquitted oil companies Royal Dutch Shell and Eni and a group of current and former executives of corruption charges surrounding a widespread bribery scheme to acquire oil exploration rights in Nigeria.
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ArticleU.K. government proposals spell out Big Four breakup, new audit responsibilities
The U.K. government has unveiled proposals designed to end the Big Four accounting firms’ dominance of the region’s audit market while also making companies and executives more directly accountable—and liable—for failures in corporate reporting.
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ArticleABN AMRO facing new charges in money laundering probe
ABN AMRO is facing new charges from Dutch prosecutors that imply the bank is suspected of knowing of money laundering activities perpetrated by its customers without intervening.
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ArticleJohn Wood Group earmarks $197M for global bribery settlement
Scotland-based multienergy services company John Wood Group is in “advanced stage” settlement talks with authorities in the United States, the United Kingdom, and Brazil regarding legacy bribery and corruption investigations.
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ArticleU.S., U.K. enforcement heads praise coordination in corruption cases
Daniel Kahn of the U.S. Department of Justice and Lisa Osofsky of the U.K. Serious Fraud Office discuss how enforcement agencies expect closer cooperation through 2021 in the global fight against bribery and corruption.
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ArticleVodafone Spain fined record $9.72M for data protection failures
Vodafone Spain has been fined €8.15 million (U.S. $9.72 million) for aggressive telemarketing tactics and other data protection failures under the GDPR. The penalty is the highest the Spanish Data Protection Agency has handed out.
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ArticleU.K. sanctions body signals tougher enforcement with new guidance
Revised guidance by the U.K. Office of Financial Sanctions Implementation suggests the agency might be strengthening its current enforcement stance as it pertains to breaches of financial sanctions.
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ArticleFRC to investigate Deloitte over Lookers’ audits
The U.K. Financial Reporting Council has commenced an investigation into Deloitte over its audit work of car dealership chain Lookers.
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ArticleGDPR fines by industry: Telecoms far outpace Big Tech
Since the GDPR came into force in 2018, Big Tech firms have not been on the receiving end of fines as frequently as expected. Meanwhile, other industries have shown to be more prone to data privacy violations, namely telecommunications.
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Article‘An invaluable asset’: Participants praise opportunity for feedback via GDPR sandboxes
Regulatory sandboxes launched by EU data protection authorities provide firms the opportunity to collaborate and make use of the regulator’s expertise to reduce GDPR compliance risks.