Outokumpu appoints general counsel


Sustainable stainless steel provider Outokumpu appointed Juhani Ristaniemi as executive vice president, general counsel and member of the Outokumpu leadership team.

Sanctions compliance TPRM


Panelists break down robust sanctions landscape at TPRM Summit


Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.


BSM announces chief sustainability officer


Bernhard Schulte Shipmanagement announced the appointment of Bjoern Sprotte as chief people and sustainability officer.


News Brief

EU agencies examine efforts to identify and monitor examples of greenwashing


The European Securities and Markets Authority, European Banking Authority, and European Insurance and Occupational Pensions Authority issued reports on greenwashing in the financial sector, describing how they plan to call out examples of false or misleading sustainability claims.


UBS announces group chief risk officer


Swiss bank UBS announced Damian Vogel will be appointed group chief risk officer.


News Brief

Ericsson completes DOJ-imposed compliance monitorship


Swedish telecommunications giant Ericsson announced the conclusion of the independent compliance monitorship imposed on the company following its 2019 settlement for violations of the Foreign Corrupt Practices Act.


Stellantis adds ex-Saint-Gobain CECO as corporate office head


Automaker Stellantis announced that Clara Ingen-Housz, who was previously Saint-Gobain’s group legal counsel and chief ethics and compliance officer, will be appointed head of the global corporate office and public affairs.


News Brief

BaFin relaxes growth restrictions on N26 following AML improvements


German financial regulatory authority BaFin lifted growth restrictions on N26, after the digital bank made improvements to its anti-money laundering program.

N26 office

News Brief

N26 fined $9.6M for not timely filing AML reports to BaFin


Germany’s financial supervisory authority issued a fine of €9.2 million euros against mobile bank N26 for “systematically” submitting late anti-money laundering reports.


News Brief

Senate report cites VW, BMW, JLR for potential forced labor violations


A U.S. Senate report found three European automakers—Volkswagen, BMW, and Jaguar Land Rover—sold cars in the United States with parts sourced from a supplier suspected of using forced labor from China’s Xinjiang region.

ESG money

News Brief

ESMA guidelines tackle greenwashing via fund names


The European Securities and Markets Authority published its final report containing guidance for the use of environmental, social, and governance- and sustainability-related terminology in fund names.


KfW names chief sustainability officer


Development bank KfW announced Jürgen Kern will be its chief sustainability officer.


FACC AG appoints chief sustainability officer


The supervisory board of German aerospace company FACC AG appointed Tongyu Xu as a new member of the FACC board of directors in the role of chief sustainability officer.


News Brief

DOJ orders Hahn Air to pay $27M over travel fee false claims


Hahn Air Lines and its U.S. subsidiary agreed to pay $26.8 million to settle alleged violations of the False Claims Act over knowingly failing to provide remittance for travel fees it collected from commercial airline passengers flying into or within the United States.



EU charts green path forward with ECT withdrawal, new regs


The impending decision by the European Parliament to withdraw from the international Energy Charter Treaty and adopt further climate rules sets a clear direction for green regulations in the region.



What’s the problem for GDPR repeat offenders?


The General Data Protection Regulation has been in force for nearly six years. Some industries—and some companies—have been more prone to fall foul of the rules than others.

Pav Gill 3x2


Wirecard whistleblower laments EU speak-up protection inconsistencies


The European Union’s strong stance on whistleblower protection has been undermined by member states’ wildly different approaches to punishing organizations that fail to safeguard people who raise concerns, says Wirecard whistleblower Pav Gill.


News Brief

TikTok scrutiny mounts across globe amid EU, U.S. crackdowns


TikTok is suspending new features amid an inquiry by the European Commission into its compliance with the Digital Services Act, all while responding to a U.S. ban just signed into law.


News Brief

Czech DPA fines Avast $15M over GDPR violations


The Czech Republic’s data protection authority issued a fine of 351 million Czech koruna (U.S. $15 million) against antivirus software vendor Avast for alleged violations of the General Data Protection Regulation.



Accountancy bodies urge ethical behavior amid exam cheating scandals


Trust in the integrity of corporate finance and auditing is vital, but repeated scandals over exam cheating at the largest multinational firms are denting faith in the system globally.


Amundi announces chief compliance officer


French asset management firm Amundi announced the appointment of Marc Noel as chief compliance officer.


News Brief

BaFin fines Commerzbank $1.6M over supervision, AML lapses


Germany’s financial supervisory authority issued total fines of €1.45 million (U.S. $1.6 million) against Commerzbank AG to settle allegations of inadequate monitoring and anti-money laundering controls.

EU data flag


EDPB decision sparks ‘consent or pay’ debate for Big Tech firms


Big Tech firms might need to rethink their plans to charge users for not selling their personal data for behavioral advertising following a decision by Europe’s primary data regulator.

Facial recognition scan


Focused on consumer privacy? Don’t forget employees’ rights


The implications of a privacy rights case involving a U.K.-based Uber Eats driver underscore a popular belief that companies prioritize protecting the personal information of their customers over the data rights of their employees.

European Court of Human Rights


ECHR ruling opens door to climate change litigation on basis of human rights


By holding the Swiss government accountable for failing to do more to limit climate change, a ruling by the European Court of Human Rights might have significant implications for legislators and organizations in other countries across the European Union.


News Brief

KPMG Netherlands fined record $25M by PCAOB for exam cheating


KPMG Netherlands agreed to pay a record $25 million penalty levied by the U.S. Public Company Accounting Oversight Board for allegedly allowing widespread cheating by employees on internal training exams and misinforming regulators about the misconduct.



Experts: ESG gone mainstream, but new regs still create headaches


Environmental, social, and governance goals have gained acceptance from senior leadership because of upward pressure from employees, investors, and customers, according to compliance leaders speaking at Compliance Week’s 2024 National Conference.



U.K. border controls on EU goods evoke supply chain disruption concerns


The imposition of full border controls on goods entering the United Kingdom from the European Union will affect importers and their EU suppliers, and both are advised to prepare for increased checks, possible delays, and new charges.


News Brief

SEC concludes VW emissions case with $48.8M judgment


Volkswagen Group of America Finance was ordered to pay $48.75 million as part of a final judgment obtained by the Securities and Exchange Commission to resolve historical violations related to the automaker’s emissions scandal.

CW2024 leadership panel


CW2024 leadership panel on navigating scrutiny, prep for more change


The global political landscape should be high on the risk radar of compliance officers in 2024, according to compliance leaders speaking at Compliance Week’s 2024 National Conference, along with increased regulatory scrutiny toward forced labor, ESG, and M&A.

DOJ building

News Brief

​Ex-OneCoin compliance head jailed 4 years for fraud role


The former head of legal and compliance at OneCoin was sentenced to four years in prison after pleading guilty to fraud charges regarding her role in a cryptocurrency marketing scheme.


DITF appoints sustainability chief


The German Institutes of Textile and Fiber Research appointed Thomas Stegmaier as chief sustainability officer.

AI Act


Need to know: How AI Act sets tone for AI regulation


The European Union’s AI Act follows a risk-based approach: the higher the risk the artificial intelligence poses, the stricter the rules. Understanding each category is key to compliance.


News Brief

Ericsson: Monitor certified anti-corruption program post-FCPA settlement


Swedish telecommunications company Ericsson announced its independent monitor appointed by the Department of Justice certified its compliance program satisfies the requirements ordered by the U.S. agency following its 2019 Foreign Corrupt Practices Act settlement.



New leadership no easy fix for Irish DPC’s GDPR woes


The Irish Data Protection Commission has a new leadership structure, but it is uncertain whether the changes can get the key privacy regulator caught up on enforcement of the General Data Protection Regulation.

Europe technology


Big Tech practices draw early scrutiny under DSA, DMA


TikTok and X are under investigation related to their respective compliance with the European Union’s Digital Services Act, while the first three companies probed under the Digital Markets Act include Apple, Alphabet, and Meta.


TradeXBank AG appoints chief risk officer


Switzerland-based TradeXBank AG announced the appointment of Viviane Gabard as chief risk officer.

Energy efficiency


EU regs for energy-efficient buildings raise questions for commercial property


Organizations with property in the European Union should be asking more questions about their sustainability and emissions in light of revised plans to decarbonize buildings across the region.

Epstein case study cover 3x2


Chapter 4: Investigations into misconduct: What banks can do


Both JPMorgan Chase and Deutsche Bank retained their respective Jeffrey Epstein relationships for too long. Yet, there is a case to be made for why exiting a high-risk relationship too soon can become an inverse form of recklessness.


Fresenius appoints global legal, compliance head


Healthcare company Fresenius Medical Care announced the appointment of Jörg Häring as global head of legal, compliance, and human resources, effective June 1.

Epstein case study cover 3x2


Chapter 3: Egregious failures: Customer due diligence and transaction monitoring


Why did JPMorgan Chase retain Jeffrey Epstein for more than a dozen years? How did the relationship persist despite glaring red flags? The “why” is straightforward; the “how” is more complicated.

Deutsche Bank

News Brief

Deutsche Bank dinged $54K over IT incident reporting


Deutsche Bank was assessed a penalty of €50,000 (U.S. $54,000) by Germany’s financial supervisory authority for its alleged miscommunication of a 2023 information technology security incident.


Halton Group names sustainability chief


Indoor air solutions technology provider Halton Group announced Riikka Paarma will join as chief sustainability officer.

Epstein case study cover 3x2


Chapter 2: KYC shortfalls: JPMorgan and Deutsche Bank’s onboarding of Epstein


Jeffrey Epstein’s designation as a high-risk client should have subjected him to enhanced due diligence that never appeared to occur, most notably at Deutsche Bank. Instead, Epstein was allowed to continue his misconduct despite numerous red flags.

Epstein case study cover 3x2


Chapter 1: Compliance v. complicity: The ‘underbelly’ of bank culture


Why were decisions made the way they were at the banks that serviced Jeffrey Epstein? Evidence points to a cultural tension: a tug-of-war between the allure of profit and the drag of compliance, with the former having all the pulling power.

Epstein case study cover 3x2


Case study: ‘The Banks Behind the Epstein Enterprise’


This Compliance Week case study offers a deep dive into the anti-money laundering compliance failures—and alleged complicity—of JPMorgan Chase and Deutsche Bank, the two banks that enabled the Jeffrey Epstein enterprise to flourish for decades.

Sustainability metrics


EU due diligence directive back on track, despite concession concerns


The future of the EU’s Corporate Sustainability Due Diligence Directive was thrown into doubt when the European Council failed to endorse proposals. The directive is back on track after being agreed upon, albeit in weaker form.

Supply chain


Policy changes underscore need for enhanced child labor due diligence

2024-03-18T13:20:00+00:00By and

Rooting out potential child or forced labor violations in your company’s supply chain can have benefits beyond protecting reputation and being ethically sound. The process can also help your firm comply with pending child labor laws in other jurisdictions.


News Brief

Departing ABN AMRO risk chief says climate, cyber among priorities


Tanja Cuppen, chief risk officer of ABN AMRO, shared her view on the Dutch bank’s biggest risk focus areas and the accomplishments of her tenure a month ahead of her planned departure.

Privacy Shield


Privacy by design a silver bullet for stemming AI risks?


The proliferation of artificial intelligence technologies—and their reliance on publicly available data—has reinforced the need for tech developers and the companies using their solutions to ensure privacy by design and by default is at the crux of any offering.