All articles by Neil Hodge – Page 6
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PremiumNo clear path for leniency for U.K. firms navigating Russian sanctions
U.K. companies might be wary of informing regulators they have potentially violated sanctions against Russia over fears they could be publicly criticized for even minor breaches.
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PremiumExperts: ICO apology to ex-CEO does not absolve NatWest of GDPR liability
Just because Alison Rose received a public apology from the U.K. Information Commissioner’s Office regarding the suggestion she might have violated the General Data Protection Regulation doesn’t mean NatWest could avoid sanction.
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OpinionFCA’s Staley decision a bold move. Are more needed?
The U.K. Financial Conduct Authority’s decision to ban Jes Staley, the former CEO of Barclays, for misrepresenting his relationship with Jeffrey Epstein has seemingly reaffirmed the notion that everyone—even the boss—is accountable for their actions.
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PremiumSupply chain due diligence must go beyond self-assessments
So many companies rely on suppliers to self-certify they comply with buyers’ codes of business conduct that the practice is “almost useless,” a panel of experts discussed at Compliance Week’s Europe conference in London.
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PremiumWirecard what happens when ‘those that are meant to check compliance don’t’
The Wirecard fraud highlights the result of regulators and auditors failing to act properly and underlines the importance of encouraging and protecting whistleblowers, said the reporter who exposed the firm in speaking at Compliance Week’s Europe conference in London.
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PremiumSocial risks prove tripping point in early CSRD compliance efforts
Companies are still struggling to report meaningfully on societal risks as part of their efforts to meet demands for better environmental, social, and governance disclosures, experts discussed at Compliance Week’s Europe conference in London.
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PremiumExperts: Copyright, IP concerns top of mind with AI use
Companies need to be aware of the legal risks and liabilities associated with their use of AI-based technologies, as technology firms are not the only ones in regulators’ sights, a panel of experts discussed at Compliance Week’s Europe conference in London.
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PremiumSpanish labor ministry continues working condition crusade with Big Four fines
Spain’s labor ministry fined the Big Four accountancy firms at least €1.4 million (U.S. $1.5 million) total for overworking and underpaying their respective employees, continuing a recent trend in the country of the government cracking down on apparent labor violations.
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PremiumU.K. financial regs pressure firms to step up D&I considerations
The U.K.’s Financial Conduct Authority and Prudential Regulation Authority set out proposals to ensure firms treat nonfinancial misconduct, such as bullying, racist behavior, and sexual harassment, as strictly as other regulatory offenses.
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PremiumNaming and shaming? Fair approach? Expert views mixed on OFSI’s Wise Payments case
The recent decision by the U.K. Office of Financial Sanctions Implementation to disclose details of how Wise Payments failed to stop an individual from obtaining cash while subject to Russian sanctions has ignited debate about whether the agency is taking the right enforcement approach.
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PremiumBank privacy processes questioned after U.K. ‘debanking’ scandal
The furor over NatWest Group’s decision to monitor and close the account of right-wing Brexit campaigner Nigel Farage—and then disclose the details to a journalist—has raised questions regarding whether other banks employ the same means to get rid of undesirable customers.
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OpinionFallout from ‘debanking’ scandal suggests more U.K. bank reforms coming
The former CEO of NatWest’s decision to leak client details to the press regarding Nigel Farage is likely to cost the financial industry millions in new compliance checks as U.K. regulators prepare reviews into how banks treat people with extreme political views.
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PremiumPaying 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.
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PremiumLarge 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.
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News BriefFINMA 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.
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PremiumExpert views mixed on proposed U.K. AML reforms
Experts share differences of opinion over whether future anti-money laundering supervision in the United Kingdom should be industry specific and whether a single regulator would be more effective than multiple bodies.
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PremiumPressure on DPAs to ensure success of GDPR cross-border proposal
Plans to speed up General Data Protection Regulation cases against the likes of Big Tech firms by improving cooperation among the European Union’s data regulators have been largely welcomed by experts.
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PremiumExpert views mixed on viability of new EU-U.S. data transfer framework
The European Commission might have given a green light to the latest mechanism to allow safe data transfers between the European Union and the United States, but experts have mixed views regarding how long it will last and whether it is even legal.
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PremiumWhat should be priorities for incoming SFO director?
High staff turnover, low morale, and unattractive rates of pay are among the areas legal experts pointed to when discussing the potential agenda of Nick Ephgrave upon taking over as head of the U.K. Serious Fraud Office.
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PremiumExperts: Ways to stay ahead of generative AI risks
Not all companies can rely on bans or restrictions to employee use of generative artificial intelligence like ChatGPT. Instead of telling people what they can’t do, focus on what they can do.