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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

Hempel resolves bribery case with European authorities for $33.3M

Jaclyn Jaeger | March 13, 2019

Global coatings manufacturer Hempel has reached a settlement with Danish and German authorities and agreed to a fine of 220 million Danish krone (U.S. $33.3 million) concerning bribery payments made to ship managers in Germany.

Global Glimpses Blog

Brexit: ‘No-deal’ option rejected; delay vote coming

Neil Hodge | March 13, 2019

A day after voting down Prime Minister Theresa May’s proposed Brexit deal for the second time, the U.K. Parliament voted Wednesday to reject leaving the European Union without a deal by a 321-278 margin.

Global Glimpses Blog

New, tough regulator to oversee U.K. audit

Paul Hodgson | March 11, 2019

The U.K. Financial Reporting Council will soon be replaced by a new regulator acting on recommendations from Sir John Kingman of the London Stock Exchange. The government hopes to ensure the United Kingdom going forward has “a world-class audit and accounting regulator.”

Global Glimpses Blog

Swedbank faces scrutiny over money laundering allegations

Jaclyn Jaeger | March 11, 2019

Legal pressure against Stockholm-based Swedbank, one of several banks at the center of a massive money laundering scandal, continues to escalate.

Global Glimpses Blog

U.K. gender pay gap reports rife with defects

Paul Hodgson | March 6, 2019

A new report from U.K. organization says that compliance with gender pay regulations and guidance is still very weak.

News Article

Ted Baker CEO resigns following ‘hugging’ allegations

Neil Hodge | March 5, 2019

Ray Kelvin, the CEO and founder of fashion retailer Ted Baker, has resigned following allegations of sexual misconduct made against him last December.

Global Glimpses Blog

Autoliv, TRW fined €368M for breaching EU antitrust rules

Jaclyn Jaeger | March 5, 2019

Autoliv and TRW became the latest automotive-safety equipment suppliers to be fined by the European Commission for cartel activity to the tune of €368 million (U.S. $416 million) for breaching EU antitrust rules. For revealing the cartel activity to the Commission, Takata was not fined.

News Article

Facebook facing probes in Ireland

Neil Hodge | March 4, 2019

Facebook is the subject of 10 investigations by Ireland’s privacy regulator into whether the company and its subsidiaries have violated European Union privacy law—part of 15 probes the regulator has opened up against major tech firms headquartered in the country.

Global Glimpses Blog

U.K.-U.S. authorities reach post-Brexit derivatives trading deal

Jaclyn Jaeger | February 26, 2019

The U.S. Commodity Futures Trading Commission and the Bank of England—including the Prudential Regulation Authority and the U.K. Financial Conduct Authority—on Monday issued a joint statement finalizing a post-Brexit derivatives trading deal.

Global Glimpses Blog

May gives MPs vote to delay Brexit

Jaclyn Jaeger | February 26, 2019

U.K. Prime Minister Theresa May has offered Members of Parliament the chance to vote on delaying Brexit if her deal is voted down next month.