Europe’s landmark privacy legislation, GDPR, was officially adopted ten years ago and has been in force since May 2018. It has forced organizations to change the way they think about personal information and has put privacy risk firmly on the board’s agenda, especially since the sanctions available under the regime are potentially ruinous
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Posted inRegulatory Policy
New rules to protect EU workers from toxic chemicals in battery, steel, rubber, and textile industries
New rules protecting workers from dangerous chemicals are set to pass into law in October following EU Council and Parliament agreement, establishing new exposure limits across the battery, steel, chemical, and textile industries and updating protective equipment standards.
Posted inWhistleblowers
CFTC proposes to amend Whistleblower Rule, signals more enforcement activity
The CFTC is seeking comment on a proposed amendment to its whistleblower rules and warned that its enforcement program will “relentlessly focus on serious violations.”
Posted inRegulatory Enforcement
Sabre Corp subsidiary fined $1.3 million for U.K. sanctions circumvention
The U.K.’s sanctions office has imposed its largest penalty for circumventing Russian sanctions since the war in Ukraine began in 2022.
Posted inRegulatory Enforcement
Merrill Lynch to pay $7.5M for failure to file Suspicious Activity Reports
Bank of America’s Merrill Lynch brokerage unit has agreed to pay $7.5 million to settle SEC charges that it failed to file numerous Suspicious Activity Reports between April 2020 and September 2024 due to gaps in its transaction monitoring threshold.
Posted inRegulatory Enforcement
U.K. regulator forces third FS firm to pay $42M for financial crime failures related to wealth management company collapse
The U.K. banking regulator has censured asset servicing bank CACEIS UK for failing to operate adequate financial crime controls. The bank agreed to pay $41.9 million in compensation to clients.
Posted inESG/Social Responsibility
EU extends proposals to apply carbon border pricing to downstream products
EU member states have agreed to extend measures to price the carbon emissions of goods imported into the Eurozone to include a wide range of end-products made from steel, aluminum and iron. The current CBAM came into force on Jan. 1 this year and currently applies mainly to high-emission raw materials.
Posted inCryptocurrency and Digital Assets
Experts weigh up challenges for firms, FCA under U.K. plan to regulate crypto
The U.K. has set itself a path to regulate crypto from the end of next year that is different to the rest of Europe. While the EU has created sector-specific rules for the industry under the Markets in Crypto Assets Regulation, the U.K. will instead make crypto firms subject to the same rules as every other financial services provider.
Posted inSurveys & Benchmarking
Does the compliance function influence business strategy in your organization? Two in every three compliance officers say yes.
Two of every three respondents to the Inside the Mind of the CCO survey reported that the compliance function influences business strategy within their organization.
Posted inRegulatory Enforcement
Hedge fund founder faces five years in prison for extensive market spoofing scheme
A California day trader and founder of a hedge fund faces up to five years in prison after pleading guilty to manipulating stock prices through buy and sell “spoofing” schemes.
