Messaging apps


Survey: Social media remains vexing issue for financial firms


A recent survey by surveillance technology firm SteelEye found most financial institutions do not monitor their employees’ use of social media or factor in market risks exacerbated by social media posts.


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.


News Brief

Crowe U.K. dinged $181K by FRC for Aseana Properties audit failures


Crowe U.K. was assessed a penalty of £144,000 (U.S. $181,000) by the U.K. Financial Reporting Council for failures in its audit of Aseana Properties Limited’s financial statements for the year ended Dec. 31, 2019.

London business district

News Brief

FRC fines PwC, EY for London Capital & Finance audit failings


Big Four firms PwC and EY were each penalized by the Financial Reporting Council for alleged shortcomings during their respective audits at collapsed investment firm London Capital & Finance.


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.



Lloyds decision to cut risk staff draws criticism, defenders


Lloyds Banking Group is cutting jobs in its risk management function after an internal review reportedly found it was a “blocker” to the organization’s strategic transformation.



U.K. regs up pressure on debt collection practices


Debt collection has become a hot topic as U.K. regulators pile pressure on utilities and financial services companies to improve how they treat customers in arrears.

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.

Big Tech


FCA exploring how Big Tech data can aid financial services


The U.K. Financial Conduct Authority reemphasized its desire to work with Big Tech firms to examine how their data might be useful to the financial industry.

ESG concept

News Brief

FCA publishes guidance on anti-greenwashing rule


The U.K. Financial Conduct Authority issued new guidance on how to comply with its upcoming anti-greenwashing rule, which is set to take effect May 31.


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.

ESG vector


Report: Poor awareness of supply chain disclosure regs leaving firms exposed


Compliance failures in the supply chain are hampering organizations’ efforts to implement environmental, social, and governance initiatives and meet disclosure requirements, according to a new report by U.K. law firm Burges Salmon.


News Brief

SFO outlines five-year strategy amid ‘increasing pace of change’


The U.K.’s Serious Fraud Office said in a five-year strategic plan it’s “struggled to keep pace with demand” as ballooning casework shows no signs of slowing down.

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.


News Brief

U.S., U.K. ban new Russian metal imports


The U.S. Treasury Department, in coordination with the United Kingdom, is clamping down harder on Russia’s ability to wage war against Ukraine by banning the import of Russian-origin aluminum, copper, and nickel.

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.

Grant Thornton

News Brief

Grant Thornton UK dinged $51K for pension fund audit lapses


Grant Thornton UK was assessed a penalty of £40,000 (U.S. $51,000) by the Financial Reporting Council for alleged procedure failures affecting the firm’s audit of a local authority’s pension fund.



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.

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.

London Financial District


U.K. sets recommendations to address misogyny in finance


Sexism, sexual assault, and bullying are rife at financial services organizations, according to a recent report by the U.K. Treasury Committee. “The government and financial regulators have important roles to play in driving change,” the committee said.

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.

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.

UK privacy


ICO primed for enforcement increase behind new fining guidance?


The Information Commissioner’s Office updated its data protection fining guidance to provide companies with greater transparency and clarity about how and why it would issue penalties for a breach of the U.K. General Data Protection Regulation or Data Protection Act 2018.

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.

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.

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.

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.

Climate change ideas


Study: Climate transition impact reporting still lacking


Large polluters are failing to account for climate change impact and adaptation, but policymakers need to harmonize disclosure requirements to drive coherent action.

Magnifying glass

News Brief

SFO launches probe into collapsed Carlauren Group


The U.K. Serious Fraud Office announced two raids and three arrests coinciding with the launch of an investigation into collapsed property developer Carlauren Group.

Financial Conduct Authority

News Brief

FCA fines financial adviser $1.1M over British Steel advice, oversight lapses


The U.K. Financial Conduct Authority fined Inspirational Financial Management nearly £900,000 (U.S. $1.1 million) regarding alleged failures in advice and oversight provided to customers who were primarily members of the British Steel Pension Scheme.


News Brief

​Italian DPA fines UniCredit $3M over data breach GDPR lapses


The Italian data protection authority announced a fine of €2.8 million (U.S. $3 million) against UniCredit for alleged violations of the General Data Protection Regulation regarding insufficient security measures the bank had in place during a cyberattack.

London cityscape


SFO director support for whistleblower incentives enough to drive change?


When Nick Ephgrave of the Serious Fraud Office said in his maiden speech he favored paying whistleblowers in exchange for information, he might not have been fully aware of the implications, according to legal experts.

European Commission

News Brief

EU to ban sale of products made with forced labor


The European Union announced an agreement to ban products made with forced labor, a decision that will oblige organizations to track and declare more information about their supply chains for goods entering EU markets.