All Europe articles – Page 63
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Blog
The importance of a transitional period in financial services
Financial Conduct Authority Chief Executive Andrew Bailey in a recent speech spoke about the importance of a transitional period for the financial services industry concerning Brexit. A key issue, he said, is the need for continuing authorisation for firms that are undertaking cross-border business between the United Kingdom.
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Article
GDPR compliance from the trenches
With the EU’s General Data Protection Regulation fast approaching, forward-thinking companies have some hard-won experience to share about their compliance efforts.
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Article
Buyer-funded developments equal fraud
Buyer beware: A pattern is emerging with buyer-funded developments—investors tempted by high-yield returns, only to see the projects collapse and their investments disappear.
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Article
SFO targets Tesco executives in retrial
Although British supermarket chain Tesco secured a DPA for its 2014 fraud offence, three of its executives still face a reckoning in court—with an uncertain outcome.
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Blog
World Bank debars medical-device company, two others
The World Bank has debarred three companies and reached a settlement with one company concerning sanctionable practices under projects in Bangladesh, India, and Timor-Leste.
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Blog
Mastercard, IBM launch trust to help companies meet GDPR requirements
Mastercard and IBM announced the launch of Truata,an independent trust designed specifically to help organizations conduct analytics in full compliance with the GDPR. Truata will enable companies to meet the standards of data protection envisioned by the GDPR, while continuing to innovate and deliver the services and experiences their customers ...
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Article
Extracting compliance lessons from U.K. bribery cases
Recent case law shows that when it comes to the U.K. Bribery Act, no company is considered out of reach, or not worth prosecuting, if there is a message to be sent.
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Blog
New guidelines issued to help EU companies prepare for GDPR
Two months before the EU's General Data Protection Regulation takes effect, the European Data Protection Supervisor has published two new sets of guidelines, providing advice to the EU institutions on how to adapt to this new chapter in EU data protection.
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Blog
SFO recovers £4.4m from corrupt diplomats in ‘Chad Oil’ share deal
The Serious Fraud Office announced that it is set to recover millions lost in a corruption case concerning bribes that Griffiths Energy paid to Chadian diplomats in the United States and Canada.
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Blog
SFO: Ex-Deutsche Bank trader pleads guilty over EURIBOR manipulation
The Serious Fraud Office announced that an ex-Deutsche Bank trader pleaded guilty to conspiracy to defraud in connection with its ongoing investigation into the manipulation of the Euro Interbank Offered Rate (EURIBOR).
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Blog
Barclays trying not to be the U.K.’s Wells Fargo
As one of the U.K.'s top banks struggles with numerous scandals, its audit committee shows there is still a way forward.
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Article
U.K. co-op compliance failures raise regulatory questions
A series of compliance setbacks at prominent U.K. co-ops have brought increased scrutiny to both the co-ops … and their regulators.
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Article
Negative feedback has impact on FCA Financial Services Register plans
The FCA has abandoned Financial Services Register plans that would have placed the responsibility for certifying the suitability of key people other than “senior managers” onto the firms.
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Blog
European Parliament: Companies to pay taxes where they earn profits
New EU rules would put an end to companies’ ability to use loopholes to avoid paying taxes— for example by shifting profits to EU countries with lower taxes.
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Blog
Report: Brexit ‘Red Tape’ will cost exporters £58 billion a year
Brexit red tape will cost around £31 billion for EU exporters and £27 billion for U.K. exporters, according to a new report by Oliver Wyman and Clifford Chance. Impacted firms must take steps now, they warn.
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Blog
FCA publishes discussion paper on transforming culture in financial services
The U.K. Financial Conduct Authority has published a discussion paper on transforming culture in financial services, presenting views from academics and industry thought leaders. The paper is intended to provide a basis for stimulating further debate on transforming culture in the sector.
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Article
A sting, a Picasso and, guess what, offshore tax havens
A look at the scandal at Beaufort Securities, which switched from real estate investments to Picassos to launder money, because of the limited risk in the unregulated art market.
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Article
FCA calls for technology for ‘smarter’ regulatory reporting
In a bid to cut down on firms’ “burdensome” reporting woes while easing its own workload to review such reporting, the Financial Conduct Authority is seeking input on how technology could make regulatory reporting simpler and more consistent.
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Blog
Former Co-operative Bank chair banned from the financial services industry
The Financial Conduct Authority has banned former Co-operative Bank Chair Paul Flowers from the financial services industry after he was caught using his work phone and e-mail to conduct inappropriate phone calls and send sexually explicit messages.
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Blog
Financial Conduct Authority bans former Deutsche Bank trader
The U.K. Financial Conduct Authority has fined Guillaume Adolph, a former short-term interest rate derivatives trader at Deutsche Bank, £180,000 and banned him from performing any function in relation to any regulated financial activity.