All Europe articles – Page 8
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News BriefUBS unit fined $3.75M for options trading reporting violations
UBS Securities agreed to pay $3.75 million to settle allegations brought by the Financial Industry Regulatory Authority that its failure to adequately supervise compliance staff led to millions of violations of options trading reporting requirements.
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News BriefMeta fined $414M for targeted advertising GDPR breaches
The Irish Data Protection Commission fined Meta Ireland a total of €390 million (U.S. $414 million) for breaching the General Data Protection Regulation by forcing users to agree their personal data can be used for targeted advertising to access Facebook and Instagram.
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News BriefDanfoss to pay $4.4M in OFAC sanctions settlement
Danish manufacturer Danfoss agreed to pay nearly $4.4 million to settle allegations a subsidiary violated U.S. sanctions by running payments from customers based in Iran, Sudan, and Syria through the foreign branch of a U.S. financial institution.
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OpinionTen things I’d like to see happen in 2023 (2022 in review)
Expect big developments for the compliance profession in 2022 to continue to take center stage in the year ahead, including CCO certifications, climate-related disclosures, and more.
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ArticleFinCEN report identifies financial trends of Russian oligarchs
The Financial Crimes Enforcement Network published an analysis of financial trends involving Russian oligarchs and how U.S. financial institutions have aided in the identification of more than $30 billion worth of sanctioned Russians’ assets.
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ArticleIrish DPC probing Twitter over breach affecting 5.4M users
The Irish Data Protection Commission is investigating whether Twitter violated the European Union’s General Data Protection Regulation regarding a data breach alleged to have affected 5.4 million users.
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ArticleDOJ declines to prosecute Safran over alleged FCPA violations
The U.S. Department of Justice informed French aircraft equipment manufacturer Safran that the company would not face prosecution regarding alleged bribes paid by employees at two subsidiaries to a China-based consultant.
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ArticleESG in 2023: CSRD to put new pressures on EU businesses
Corporate reporting on everything from climate change to workers’ rights is set for a shake-up in the European Union, and companies should use 2023 to prepare for new regulations and stakeholder expectations.
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ArticleManaging sanctions risk: Keys to successful implementation
The International Compliance Association hosted a webinar looking at challenges faced by organizations regarding changes in the sanctions landscape in 2022. Holly Thomas-Wrightson offers a recap of the discussion.
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ArticleBNP Paribas names new head of compliance
BNP Paribas, France’s largest bank, announced the appointment of Stéphanie Maarek as its new head of compliance. She succeeds Nathalie Hartmann, who held the role since 2017.
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ArticleAbanca fined $3.3M for missing 2-hour breach reporting deadline
The European Central Bank fined Spanish bank Abanca €3.145 million (U.S. $3.3 million) after it “knowingly failed” to report a major cyber breach within the prescribed two-hour time limit.
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ArticleDeutsche Bank efforts to meet BaFin order reflective of EU’s AML struggles
Deutsche Bank said it is about “two-thirds” of the way toward meeting Germany’s financial regulator’s demands for tighter controls to combat money laundering and terrorist financing—an area of weakness many banks across the European Union are confronting.
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ArticleDOJ, SEC extend Ericsson compliance monitorship one year
Swedish telecommunications company Ericsson agreed with U.S. authorities on a one-year extension of its independent compliance monitorship after a second breach of its obligations under a deferred prosecution agreement earlier this year.
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ArticlePortugal statistics office fined record $4.6M for GDPR violations
The government office for national statistics in Portugal was assessed a fine of €4.3 million (U.S. $4.6 million) by the country’s data protection authority for multiple violations of the General Data Protection Regulation that occurred during its 2021 census work.
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ArticleCompliance implications of Danske Bank’s $2B Estonia money laundering settlement
Danske Bank reached final resolutions with U.S. and Danish authorities to settle allegations regarding widespread anti-money laundering deficiencies at its former Estonia branch.
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Article
BMG appoints senior director of global DEI
BMG, a division of global media, services, and education company Bertelsmann, announced the appointment of Pierrot Raschdorff as senior director of global diversity, equity, and inclusion.
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ArticleRabobank probed by Dutch prosecutors over potential AML violations
Rabobank, the second largest bank in the Netherlands, is being investigated by the Dutch Public Prosecution Service for potential violations of the country’s anti-money laundering/countering the financing of terrorism law.
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Article
VEON adds group diversity and inclusion officer
Dutch telecommunication services company VEON announced Ana de Kok-Reyes will serve in the newly established role of group diversity and inclusion officer.
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ArticleGlencore to pay $180M in DRC corruption case
Commodity trading and mining company Glencore agreed to pay $180 million to the government of the Democratic Republic of the Congo to settle claims arising from alleged corrupt practices that took place for more than a decade.
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ArticleClubhouse app operator fined $2M for GDPR violations
Alpha Exploration, operator of the social media app Clubhouse, received a penalty from the Italian data protection authority for the unlawful processing of EU citizens’ data in violation of the General Data Protection Regulation.