All articles by Neil Hodge – Page 25
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Article
U.K. Financial Reporting Council receives scathing review
An independent review of U.K. corporate governance regulator and audit watchdog the Financial Reporting Council calls the agency a “hangover from a bygone era.”
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Article
CMA looks at tackling Big Four’s stranglehold of U.K. audit market
The audit market is facing serious scrutiny from the U.K. Competition and Markets Authority, which hopes to carve out external audit from consulting, impose a “joint audit” regime, and increase audit committee chair accountability.
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Article
Ted Baker launches probe into CEO ‘hugs’
Ray Kelvin, the founder of fashion retailer Ted Baker, stands accused of giving unwanted hugs to employees and has stepped down temporarily amid an investigation into allegations of sexual misconduct against him.
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Article
MPs release ‘secret’ Facebook e-mails
The U.K.’s Digital, Culture, Media and Sport (DCMS) Committee has released 250 pages of e-mails that show Mark Zuckerberg and other senior executives at Facebook gave certain app developers special access to user data.
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ArticleRegulators raise problem of AI in decision making and accountability
Are companies transferring too much decision-making power to machines? That’s the opinion of EU data regulators, who say companies should “think seriously” about telling investors and stakeholders automatons are now in charge of their data.
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Article‘No-deal’ Brexit risks U.K. and EU data transfer problems
In the event of a ‘no-deal’ Brexit, EU data commissioners are warning of data transfer restrictions between the European Union and the United Kingdom, which will be treated as a third country.
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ArticleCompliance is feeling GDPR’s growing pains
Six months after its enactment, the EU’s data privacy regulation still hasn’t provided the clarity many were looking for … and it might not come for a while yet.
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ArticlePrivacy advocate Schrems foresees lax enforcement of GDPR
Speaking at the recent Compliance Week Europe conference in Amsterdam, leading privacy campaigner Max Schrems cast doubt on whether the newly enacted GDPR would have any teeth.
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Blog
FCA seeks to mitigate Brexit-related risk
The U.K. Financial Conduct Authority is on a mission to thwart as many “cliff-edge” risks as possible during the Brexit transition.
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Article
EU regulator pushes for global consensus on data ethics
European Data Protection Supervisor Giovanni Buttarelli trumpeted the urgent need for a worldwide data ethics accord at a recent conference, warning that the rapid advance in global digital technologies mandates a global consensus on privacy.
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Blog
U.K. data regulator slaps Facebook with maximum fine
Facebook has been hit with a £500,000 fine by the Information Commissioner’s Office for serious breaches of data protection rules stemming from the Cambridge Analytica scandal.
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Blog
Apple CEO pushes for U.S.-style GDPR, bashes those who ‘put profits over privacy’
Apple CEO Tim Cook voiced his support for the EU’s General Data Protection Regulation and advocated for a similar U.S. mandate based on four “essential rights.”
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Blog
Morrisons loses data breach appeal
The U.K. Court of Appeals recently shot down an appeal by supermarket chain Morrisons to overturn an earlier judgment denouncing it as liable for a data breach instigated by a disgruntled former employee. A march to the Supreme Court is next.
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Blog
Bank of England urges firms to prepare for climate change risks
The Bank of England (BoE) wants boards of financial services firms to take a stronger role in identifying and managing financial risks caused by climate change by making individual executives accountable and improving disclosure.
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Article
FCA strives for smooth regulatory transition in event of no-deal Brexit
The U.K. Financial Conduct Authority has published two consultation papers to help companies prep for regulation in the event of a no-deal Brexit.
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ArticleHeathrow Airport operator fined for data breach
The U.K.’s biggest airport operator has been fined £120,000 after an unencrypted USB memory stick that reportedly contained security details about the Queen’s travel plans was found by a member of the public on a busy London street.
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Article
Danske Bank CEO quits over money laundering failures
The chief executive of Denmark’s biggest financial institution has resigned following the publication of a report that highlights large-scale money laundering in the bank’s Estonian operations.
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EU proposes new money laundering rules
The European Commission wants to strengthen supervision over banks and other financial institutions to toughen up its fight against money laundering and terrorist financing after admitting that present measures have “failed all too often.”
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Article
Shareholders seeking $10.6 billion from VW over emissions disclosure
Shareholders seeking damages worth €9.2 billion (U.S. $10.6 billion) have taken German car giant Volkswagen to court in Germany for failing to inform them fully of the financial impact that the emissions cheating scandal would have on the company’s share price.
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ArticleU.K. regulator setting global example in facilitating technology growth
FCA-backed sandboxes set up for testing in a live environment have put British RegTech and FinTech ahead of the curve.