All articles by Neil Hodge – Page 21
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ArticleInternational banking regulator: Big Tech ‘may pose risks to financial stability’
Big technology firms like Amazon, Facebook, Twitter, and Google are a potential risk if they get more heavily involved in providing financial services, says the Financial Stability Board.
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ArticleWADA mess: Sports regulator’s light touch sends bad compliance message
One of sports’ key enforcement agencies handed out a penalty this week that sent a message no regulator wants to send: Punitive action may only come after the guilty party has already reaped the rewards.
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ArticleICO draft guidance helps U.K. firms clarify AI choices
The U.K. Information Commissioner’s Office has released guidance that lays out four principles—based on the GDPR—companies must consider when applying AI to their systems.
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Vestager once again takes aim at digital giants
Margrethe Vestager, European commissioner for competition, once again rallied against Big Tech in a Nov. 29 speech. The politician has promised more oversight of search engines, online marketplaces, social media networks, and app sites to ensure fair markets.
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ArticlePRA fines Citigroup for regulatory disclosure failure
The Bank of England has hit Citigroup with a record £44 million (U.S. $56.5 million) fine after it found three of its U.K. units failed to submit complete and accurate regulatory information about the lender’s capital and liquidity levels.
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ArticleUber stripped of London license for ‘pattern of failures’
Uber has been stripped of its London operating license after the city’s transportation regulator identified a “pattern of failures” by the company, including several safety breaches that placed passengers at risk. It is appealing the ruling.
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ArticleAlstom U.K. fined $20.8M for role in long-running bribery case
Alstom Network U.K., the British subsidiary of the French rail and power company, has been ordered to pay a total of £16.4 million (U.S. $20.8 million) for bribes it paid to win a contract to supply trams in Tunisia.
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ArticleWestpac accused of 23M violations of Australian AML rules
Australia’s financial crime regulator has accused Westpac Banking of committing over 23 million breaches of the country’s anti-money laundering and counter-terrorism financing rules.
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ArticleBig Four stranglehold on U.K. audit market widens
The Big Four’s dominance of the U.K. audit market has grown even further in the past year, according to the Financial Reporting Council’s latest report.
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ArticleEY accused in U.K. gold-laundering scheme
Big Four audit firm EY has been accused of covering up evidence of smuggling by an organized crime gang that was laundering British drug money through gold dealings, according to an investigation by the BBC.
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ArticleThird Brexit delay approved: What’s next?
The countdown clock for the United Kingdom’s exit from the European Union has been reset to January 2020, giving PM Boris Johnson a set of new options to pursue in order to facilitate a deal.
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ArticleSeven takeaways: Privacy, Big Tech in spotlight at ICDPPC
The International Conference of Data Protection and Privacy Commissioners offered varying perspectives on the latest in data privacy and technology from the likes of regulators, experts, and campaigners.
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Microsoft president: Tech companies must embrace privacy regs
At a recent data privacy event, Microsoft’s president and chief legal officer discussed the evolution of data protection rules and how new technology needs to better align with privacy regulation.
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PM Boris Johnson forced to ask for Brexit delay
Confusion surrounds the latest on the Brexit front, with beleaguered PM Boris Johnson sending two contradictory letters to European leaders—one asking for a delay and the other suggesting they ignore this request.
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ArticleEC uses ‘interim measures’ on Broadcom to curb anticompetitive behavior
The European Commission has ordered Broadcom to cut out harsh contract terms with six TV and modem manufacturers because they may infringe antitrust rules. It’s the first time the agency has imposed “interim measures” in 18 years
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ArticleOxfam slams U.K. supermarkets over worker abuses in supply chains
In an effort to cut costs and raise revenue, U.K. supermarkets are endangering employees with such abuses as a lack of toilets, unsafe drinking water, and illnesses resulting from exposure to pesticides, says a new report from Oxfam.
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ArticleU.K.’s ‘no deal’ Brexit readiness report puts onus on businesses
The U.K. government this week released details about the steps it will take to ensure business continues to operate smoothly if the country leaves the European Union on Oct. 31 without a deal.
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ArticleEU whistleblower protection law gets go-ahead
Whistleblower protections against dismissal, demotion, and other forms of retaliation will come into effect in the European Union within the next two years, according to an agreement signed recently by EU leaders.
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ArticleBDO warns about state of ‘broken’ U.K. audit market
The head of one of the United Kingdom’s biggest accountancy firms has said the audit market is “clearly broken” and “trust needs to be restored,” though how that should be done is “not clear.”
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ArticleFRC investigates EY over Thomas Cook’s books
The U.K. Financial Reporting Council is investigating EY over the audit work it carried out at travel firm Thomas Cook, which recently declared bankruptcy.