All articles by Paul Hodgson – Page 3
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ArticleAmid criticism, can trust in U.K. FRC be restored?
Attacks on the Financial Reporting Council are growing at the same time the U.K. regulator has been granted sweeping new powers to do a job it has been accused of not doing very well.
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Buyer-funded developments equal fraud
Buyer beware: A pattern is emerging with buyer-funded developments—investors tempted by high-yield returns, only to see the projects collapse and their investments disappear.
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Blog
Barclays trying not to be the U.K.’s Wells Fargo
As one of the U.K.'s top banks struggles with numerous scandals, its audit committee shows there is still a way forward.
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A sting, a Picasso and, guess what, offshore tax havens
A look at the scandal at Beaufort Securities, which switched from real estate investments to Picassos to launder money, because of the limited risk in the unregulated art market.
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Blog
Preventing money laundering in law firms
Strict new anti-money laundering regulations will make compliance matters much more complicated for U.K. solicitors whose business makes them a target for money laundering operations.
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Slowly but surely, Luxembourg is complying with AMLD 4
Although it is uncharacteristically behind schedule, Luxembourg’s legislature is working on implementing transparency measures in line with AMLD 4. But will it be fast enough to avoid penalties from the European Commission?
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Complying with transparency: the Oxfam lesson
As U.K. charity organization Oxfam deals with its own sexual misconduct scandal, it illustrates the need for organizational transparency.
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Blog
Could Tesco have avoided its £4 billion (U.S.$5.6B) unequal pay case
Law firm Leigh Day is taking legal action against Tesco in “what is potentially the largest ever equal pay challenge in U.K. history,” according to the firm.
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Carillion: compliance without complying
The Carillion collapse illustrates once again that compliance with the U.K. corporate governance code does nothing to prevent bad actors from making bad decisions.
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Post-Brexit, new U.K. sanctions laws and regulations needed
In the wake of Brexit, the United Kingdom is putting together its own sanctions regulations, but there is a lot of work yet to be done and many questions yet to be answered.
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Safeguarding HSBC against Zupta
HSBC’s new anti-money laundering (AML) and sanctions policies are due to be in place by the end of the year, but what form of compliance or enforcement will they take?
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Kobe Steel: “We are extremely sorry for our improper conduct”
The biggest question surrounding the recent scandal at Kobe Steel is: If you have all the right systems in place—culture of compliance, proper regulations, good quality control, and more—but admit you’ve largely ignored them, how do you convince customers and investors going forward that you’re ready to comply?
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Blog
Practical resources to tackle modern slavery in construction
An initiative drawing from some of the largest firms in the U.K. building industry is providing guidance on how to best identify and eliminate modern slavery practices.
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Paradise for money launderers
A look at what the Paradise Papers uncovered, the European Union’s reaction, and what progress needs to be made on implementing proper disclosure and transparency to thwart future money laundering enterprises.
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Lloyds HBOS case hauls more executives into court
Thousands of shareholders have filed a claim against banking group Lloyds and five of its former directors for being misled about HBOS’ financial health when they voted to let the deal go ahead in November 2008.
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e-Commerce and tax e-Vasion
The European Union and the tech industry are locked in a perpetual struggle over taxation, but the EU is making moves to close certain tax avoidance avenues for good.
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Opening the lid on the hidden world of beneficial ownership
The world of beneficial ownership is seeing a push toward greater transparency that comes on the heels of high-profile corruption scandals at FIFA and Petrobras.
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MJ Hudson on the costs of moving amid Brexit
The second in a series of case studies examining compliance headaches for companies caused by Britain’s decision to exit the European Union looks at MJ Hudson, a small financial services company.
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Blog
easyJet: Flying through hoops to stay in Europe
The first in a series of case studies looking at Brexit compliance headaches examines what an airline must do in order to continue operating within the EU following a British exit from the Union.
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Blog
Leaving the sinking Brexit ship
Several banks and other industries are jumping ship from the United Kingdom. But what will this all mean for compliance officers?