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European Compliance

Compliance issues in the Eurozone are more pressing than ever, amid major changes such as data privacy, Brexit, global commerce, and the need to harmonize various international regulatory regimes. Compliance Week sees compliance not as an issue of any one nation or region, which is why we spotlight the regulatory, governance, compliance and ethics issues in Europe as part of our effort to bring you the most important information and insight from around the world.

Global Glimpses Blog

FINMA finds deficiencies in AML processes at Credit Suisse

Jaclyn Jaeger | September 17, 2018

The Swiss Financial Market Supervisory Authority FINMA has concluded two enforcement procedures against Credit Suisse. In the first procedure, FINMA identified deficiencies in the bank’s adherence to anti-money laundering due diligence obligations. The second procedure relates to a significant business relationship for the bank with a politically exposed person.

News Article

EU proposes new money laundering rules

Neil Hodge | September 14, 2018

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.” 

News Article

English Court of Appeal preserves litigation privilege

Jaclyn Jaeger | September 13, 2018

An English Court of Appeal decision giving companies the right to protect documentation gathered during an internal investigation is a blow to both U.S. and U.K. regulators, who have grown increasingly concerned that firms may be hiding critical evidence under the guise of it being “privileged.”

News Article

New SFO director will leverage compliance officers’ expertise

Jaclyn Jaeger | September 12, 2018

Head of the Serious Fraud Office Lisa Osofsky laid out her priorities for the agency in the coming months and provided CCOs a glimpse into what the SFO will expect.

News Article

U.K. regulator setting global example in facilitating technology growth

Neil Hodge | September 10, 2018

FCA-backed sandboxes set up for testing in a live environment have put British RegTech and FinTech ahead of the curve.  

News Article

Modern Slavery Act: an emerging picture of non-compliance

Paul Hodgson | August 29, 2018

A scathing report calls out large number of U.K. agricultural companies for non-compliance with the Modern Slavery Act.

News Article

Business calls for diplomacy to head off ‘no deal’ Brexit

Neil Hodge | August 24, 2018

While the U.K. government is advising companies to prepare for the worst, business groups are urging greater diplomatic efforts to ensure a no-deal Brexit doesn’t come to pass.

News Article

U.K. government preps for ‘no deal’ Brexit

Neil Hodge | August 23, 2018

The U.K. government has outlined a contingency plan to help companies prepare for a worst-case scenario—the “no-deal” Brexit.

Global Glimpses Blog

Royal Mail hit with massive fine for competition breach

Paul Hodgson | August 21, 2018

Parcel delivery firm Royal Mail is appealing a decision from U.K. communications regulator Ofcom, which determined the company sought to thwart wholesale customer Whistl from competing with its bulk mail delivery service.

News Article

EU works to protect firms that invest in Iran from sanction consequences

Neil Hodge | August 17, 2018

The European Union has taken steps to protect EU companies from any legal and financial repercussions from investing in Iran as a result of U.S. President Trump’s latest sanctions.