All articles by Ruth Prickett
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ArticleGavin Proudley, SVP Risk & Compliance at Dow Jones, on compliance challenges from divergent rules and geopolitics
Diverging global rules, sanctions, and tariffs being “weaponized,” and more have made compliance complex even before the U.S. strikes on Iran. We asked Gavin Proudley, SVP Risk & Compliance at Dow Jones, what this means for compliance managers and how they can stay ahead of shifting geopolitics and tighter ...
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ArticleBank of England tightens liquidity requirements for U.K. banks
U.K. banks must reassess how quickly they could monetize their assets in the event of a crisis under new rules proposed by the Bank of England’s regulatory body, the Prudential Regulation Authority. The proposals are the first changes to the liquidity rules since these were updated in the aftermath of ...
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ArticleLong-running corruption scandal adds €25.8M fine to billions already paid globally
The Netherlands Public Prosecution Office has fined a company linked to a U.S.-sanctioned Israeli businessman €25.8 million ($29.9 million) for bribing officials in the Congo. The case began in 2018 and relates to bribes paid in 2010-2011, demonstrating the slow and complex process often involved in such investigations.
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ArticleCompliance must focus on corruption as EU and U.K. seek to tackle rising risks
Corruption isn’t something that happens somewhere else, in other countries and committed by other people. Nowhere is corruption-proof, and new rules being introduced in the EU and the U.K. aim to focus compliance officers on the full gamut of risks in all jurisdictions and every sector.
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ArticleU.K. and EU commit to extending Russian sanctions and strengthening enforcement
As the U.S. relaxes some Russian sanctions to ease oil flows, the U.K. government has published a new Strategic Approach to Sanctions Enforcement, indicating that it does not intend to relax its focus on prosecuting sanctions breaches.
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ArticleCompliance must future-proof AI projects to meet evolving regulations
AI implementations are surging, but many new systems are being abandoned after companies have invested in expensive projects. Now evolving AI regulation is adding to the list of reasons why new systems may fail. Compliance must watch emerging regulatory developments and ensure that any new AI tools are capable of ...
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ArticleLuxury brands told to tighten AML compliance as Dutch regulator fines Louis Vuitton
Money laundering is no longer a concern just for financial services and real estate. It is everybody’s business. But are most businesses adequately prepared for tighter AML rules? What does compliance need to know?
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ArticleQ&A with Isabella Agius, client compliance head at Apex Group: AML keeps EU fund managers awake
Anti-money-laundering rules are the chief compliance concern for fund managers – and other sectors should take note – according to Isabella Agius, product head, corporate solutions, in the client compliance and regulatory services at Apex Group.
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ArticleSanctions enforcement set to increase, but gaps and inconsistency create compliance risks
Geopolitical volatility is causing rapidly changing sanctions regimes, but diverging rules in different jurisdictions create enforcement gaps that are exploited by sanctioned individuals and entities – and the routes used to evade sanctions are constantly developing.
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ArticleEuropean regulators fine banks for compliance failures and warn more investigations will follow
Crédit Agricole and J.P. Morgan were among financial institutions that found themselves in the cross-hairs of the European Central Bank for faulty risk assessments and risk reporting and failing to protect consumers from fraud risks. All of those companies fined also missed compliance deadlines.
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ArticleU.K. listed companies must adapt to new sustainability reporting regime by 2027
Sustainability reporting rules for U.K. listed companies are set to change. The U.K. financial regulator has launched a consultation laying out its proposals, which aim to align the reporting regime with the international ISSB standards.
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ArticleU.K. ‘buy now pay later’ regulation signals end of ‘Wild West’ fintech loans system
Firms offering “buy now, pay later” financing will become part of the regulated financial services sector in the U.K. from July 15. Compliance teams must act now to ensure they are ready to introduce rules and establish creditworthiness assessment processes, adapt systems, and change data processes before the deadline.
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ArticleEU and U.K. demand evidence to back sustainability claims
Businesses must come clean about green. The U.K. and the EU are enhancing and clarifying rules around corporate sustainability claims, with supply chains in their sights.
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ArticleU.K. financial regulator cuts cases to focus on investigations that achieve results
The U.K. financial regulator has dropped 100 investigations without action over the past three years, but compliance should expect a refocus of resources rather than a retreat from enforcement.
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ArticleDecision time for compliance as U.K. CCI regime ditches formulaic reporting to engage investors
A new U.K. Consumer Composite Investments regime comes into force on April 6 and will apply to all firms that manufacture or distribute CCI products to retail investors in the U.K. This includes some firms that are not regulated by the Financial Conduct Authority.
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News BriefEY compliance partner leaves after independence failings prompt regulatory investigation
Four senior partners at Big Four accountancy firm Ernst & Young, including a leader in the firm’s compliance function, have left the company because of spiralling repercussions from a costly compliance failure.
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ArticleQ&A with Norm Ashkenas, CCO at Robinhood, on compliance challenges, opportunities and being a strategic adviser
Chief among Norm Ashkenas’ priorities is positioning compliance as a strategic adviser, supporting those leading this global expansion in a complex financial services world. He stresses that compliance puts a huge effort into ensuring that it is not seen as a back-office function.
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ArticlePrada cleans up supply chain with zero tolerance for compliance failings
Luxury fashion brand Prada has terminated contracts with over 200 suppliers in the past five years after a focused “zero tolerance” supply chain audit aimed at identifying compliance failings.
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Article‘Significant’ rule changes for EU alternative investment funds set for April 16
Significant changes to rules for EU alternative investment fund managers come into force on April 16, but most still have work to do to be compliant, experts warn.
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ArticleFrench investigators target anticompetitive practices in largest accounting firms
Major accountancy firms in France are under investigation for anti-competitive practices. The French competition watchdog embarked on a series of “unannounced inspections” and removed documents relating to audit and reporting on Jan. 13.