All Europe articles – Page 12
-
Premium
Experts: How ESG materiality assessments impact compliance
Transparency in environmental, social, and governance reporting has become an important goal, with materiality assessments impacting compliance outcomes, experts said during CW’s virtual ESG Summit.
-
Premium
Path to ESG assurance a crawl-walk-run exercise
It’s important companies exercise patience when determining when to begin an assurance engagement, experts explained during a session at CW’s virtual ESG Summit.
-
Premium
Scope 3 emissions best practices: Be transparent, thorough
There is much companies can do—and must do, given upcoming regulatory requirements—to rein in Scope 3 emissions, sustainability expert Susan McNichols discussed at CW’s virtual ESG Summit.
-
Premium
Experts: SEC or not, Scope 3 GHG disclosure requirements coming
The actions of companies like Amazon and new legislation passed in California prove it’s no longer a question of if companies will be required to disclose their greenhouse gas emissions—it’s a question of when, experts told attendees at CW’s virtual ESG Summit.
-
News Brief
TikTok fined $368M in children’s privacy GDPR ruling
The Irish Data Protection Commission announced a penalty of €345 million (U.S. $368 million) against popular social media company TikTok over alleged violations of the General Data Protection Regulation during a five-month period in 2020.
-
News Brief
New OFAC sanctions expand clamps on Russia tech supply chain
The Office of Foreign Assets Control widened its area of focus to disrupt Russia’s technology supply chain with new sanctions announced against entities in Finland and Turkey.
-
News Brief
Greek shipper fined $2.5M in Iranian oil smuggling case
Empire Navigation pleaded guilty to violating the International Emergency Economic Powers Act by carrying nearly 1 million barrels of Iranian oil from the sanctioned Islamic Revolutionary Guard Corps to another country.
-
Premium
Paying ransom to avoid GDPR fine an unwise gambit
Companies that think paying reduced ransomware demands would be a better move than informing regulators of a data breach and facing enforcement are playing with fire, according to experts.
-
News Brief
Switzerland floats AML reforms for beneficial ownership, legal advice
The Swiss government launched consultation proceedings on a series of reforms designed to combat money laundering and terrorist financing occurring within the country’s financial system.
-
Premium
Large companies in crosshairs early under German Supply Chain Act
Amazon, IKEA, and Volkswagen were among the companies targeted in the first round of complaints under the German Supply Chain Due Diligence Act—an early indication nongovernmental organizations will seek to hold big businesses accountable for alleged human rights violations.
-
News Brief
Swedish DPA fines Trygg-Hansa $3.2M for GDPR breaches
Sweden’s data protection authority issued a penalty of 35 million Swedish krona (U.S. $3.2 million) against insurance company Trygg-Hansa for alleged security flaws that made customer insurance information accessible on the internet.
-
News Brief
FINMA guidance calls out Swiss bank failings on AML risk analysis
Switzerland’s Financial Market Supervisory Authority published new guidance to improve banks’ money laundering risk analysis after repeatedly identifying shortcomings during on-site supervisory reviews.
-
Blog
ABN AMRO chief risk officer not available for third term
Dutch bank ABN AMRO announced Chief Risk Officer Tanja Cuppen will not be available for a third term.
-
News Brief
Lincare to pay $29M over false claims for improperly billing Medicare
Lincare Holdings, a provider of oxygen equipment and subsidiary of Linde, agreed to pay $29 million to resolve allegations it violated the False Claims Act by fraudulently overbilling Medicare.
-
Blog
Swarovski appoints chief legal and compliance officer
Jewelry retailer and manufacturer Swarovski announced the appointment of Stephan Mechnig as chief legal and compliance officer, effective Oct. 1.
-
Premium
Dutch banks’ innovative AML collaboration ready to take next step
ABN AMRO, ING, Rabobank, Triodos Bank, and de Volksbank are each participating in a first-of-its-kind collaboration to shine light on the estimated €16 billion worth of illicit funds coursing through the Netherlands’ banking system every year.
-
News Brief
UBS to pay $1.4B over financial crisis-era fraud
UBS and several of its U.S. affiliates agreed to pay $1.44 billion as part of a settlement with the Department of Justice regarding the underwriting and issuance of residential mortgage-backed securities in the lead up to the 2008 financial crisis.
-
News Brief
OFAC doubles down on sanctions against Belarusian regime
The Treasury Department’s Office of Foreign Assets Control announced expanded sanctions against the Belarusian regime three years after the country’s disputed 2020 presidential election.
-
Premium
KPMG survey: ESG-related concerns in M&A derailing deals
Material findings related to environmental, social, and governance due diligence have disrupted mergers and acquisitions, forcing companies in the United States and abroad to back out of deals, according to a study from KPMG.
-
News Brief
Wells Fargo fined $200M in latest SEC, CFTC off-channel comms sweep
The Securities and Exchange Commission and Commodity Futures Trading Commission continued their crackdown on financial firms’ recordkeeping failures regarding employee use of off-channel communications with $555 million in total fines levied against nine institutions and their affiliates.