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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

SFO General Counsel to join Kingsley Napley

Scuttlebutt | September 24, 2018

Alun Milford, general counsel for the U.K. Serious Fraud Office, will be leaving the agency to join law firm Kingsley Napley as a partner.

Global Glimpses Blog

Deutsche Bank latest to come under fire for lax AML controls

Jaclyn Jaeger | September 24, 2018

Deutsche Bank has become the fourth bank in the past month to get into regulatory trouble for having lax anti-money laundering controls in place, joining Danske Bank, ING, and Credit Suisse.

News Article

No easy answers for breaking up Big Four in U.K.

Paul Hodgson | September 21, 2018

The last time the U.K.’s Competition and Markets Authority attempted to break up what is widely referred to as an oligopoly of the audit market by the Big Four audit firms—EY, PwC, Deloitte and KPMG—its actions had the opposite effect. 

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.