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Year in Review: Regulatory Enforcement in Europe

Aarti Maharaj | January 5, 2016

For compliance officers in Europe, 2015 has been a big year. Aside from focusing on reporting wrongdoing and promoting a speak-up culture, watchdogs have been keeping compliance practitioners busy with a barrage of regulations that show no sign of easing. As compliance officers wonder to what degree the past year’s enforcement actions will make their job change in 2016, here is a roundup of the top 10 major changes in 2015 that have helped set the stage for this year and beyond.

10. Stanbic Bank Tanzania
The Serious Fraud Office’s first-ever deferred-prosecution agreement (DPA): In November, the SFO issued its first DPA under the U.K. Bribery Act with Standard Bank (now known as ICBC Standard Bank) for the bank’s conduct in failing to prevent the payment of bribes by an affiliate of the London-based institution, Stanbic Bank Tanzania. A 55-page statement of facts presented by the SFO provided an explanation of the misconduct that occurred by...

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