The European Commission unveiled its long-awaited plans about how it wants to regulate artificial intelligence as well as promote greater data sharing throughout the EU to stimulate further growth and competition in digital services.
The U.K. Financial Reporting Council announced it will begin reviewing the extent to which U.K. companies and auditors are responding to the impact of climate change to ensure reporting requirements are being met.
Compliance officers can learn a lot from the anti-money laundering compliance shortcomings at Julius Baer Group, as well as from what the bank is now doing to enhance its risk management and AML compliance controls.
The Irish Data Protection Commission received 7,215 complaints during the first full year the General Data Protection Regulation was in force, representing a 75 percent increase on 2018’s figures of just over 4,000.
Facebook wants to play Cupid in Europe, but the Irish Data Protection Commission got its arrow in the tech giant first.
Attorneys for Google, seeking to overturn $9 billion in EU antitrust fines, argued in a European court Wednesday that the tech giant should not be forced to prop up its competitors in the course of promoting facets of its own business.
Airbus is free to go about its business after paying a record fine to three anti-corruption agencies for widespread bribery, but the trouble is only beginning for some of its implicated contractors.
The wheels to the United Kingdom’s exit from the European Union are finally in motion, but the hard work still remains as to what kind of future trading relationship the country has with the single market.
Ireland’s data regulator has announced new investigations into Google and MTCH Technology Services—the company behind dating app Tinder—over complaints users’ personal data is being misused in violation of the GDPR.
Germany is staying ahead of the game with an advanced crackdown on data privacy and competition law violations.
Airbus has agreed to pay a total of $4 billion in penalties split between the United States, United Kingdom, and France—the world’s largest global resolution for bribery.
NBCUniversal has been fined €14.3 million (U.S. $15.9 million) by the European Commission for restricting traders from selling licensed merchandise within the European Economic Area to territories and customers beyond those allocated to them, marking the latest case in a wider enforcement trend.
The U.K. Competition and Markets Authority won a victory in a decision by Europe’s high court, ruling GlaxosmithKline’s entering of a financial deal with industry rivals to delay the generic version of its drugs violates EU competition law.
There are a multitude of factors that need to be established when determining training requirements. What is clear is that a one-size-fits-all approach doesn’t work.
New internal guidance from the U.K. Serious Fraud Office outlines what the regulator considers in determining if a company’s compliance procedures are adequate enough to defend against U.K. Bribery Act charges or qualify for a deferred prosecution agreement.
DLA Piper’s latest data breach survey suggests the penalties handed out under the General Data Protection Regulation thus far are not as harsh as they could have been—though that could change in 2020.
The Norwegian Consumer Council, a consumer rights champion, has uncovered a serious no-no in the world of GDPR: popular apps sharing user data, such as religious beliefs and sexual preferences, to advertising and marketing firms in order to drive their own revenue.
Seven pesticide wholesalers have been fined a total of €155 million (U.S. $173 million) for operating a 17-year price-fixing cartel.
The ICO has fined Dixons Carphone for failing to take “basic, commonplace” security measures that would have alerted it to one of the country’s worst cyber-attacks.
U.K. regulator the Financial Reporting Council’s annual review shows many of Britain’s largest companies use a “tick-box” approach to compliance with the U.K. Corporate Governance Code—often providing scant explanations and little detail.
UK Finance, the U.K. regulator responsible for the financial services sector, is offering recommendations to curb the abundance of intersecting rules in FS.
The U.K. Information Commissioner’s Office has levied its first fine under the GDPR against a London-based pharmacy. Record-setting penalties announced by the ICO in July against British Airways and Marriott are still not finalized.
Environmental, social, and governance disclosures are becoming common practice, but equally pressing is the regulatory compliance risk associated with non-disclosure or disclosures that are not accurate, truthful, or complete.
The founder and two former employees of Güralp Systems were acquitted of charges they conspired to bribe a South Korean public official, making it the latest corruption case in which the U.K. Serious Fraud Office failed to secure individual convictions.
Big Tech can breathe a sigh of a relief that the mechanisms it uses to transfer data outside of the European Union to “third countries” provide sufficient privacy protection, according to a key advisor to the EU’s top court.
The ex-chief executive of France Telecom and two other former executives have been jailed for pursuing a cost-cutting policy that was so severe it led to a spate of employee suicides.
The latest report to examine the shortcomings of the U.K. audit market recommends separating audit from the accountancy profession, among other suggested changes.
The U.K. Serious Fraud Office has charged two individuals with fraud and false accounting concerning Serco’s electronic monitoring contract with the Ministry of Justice.
U.K. Prime Minister Boris Johnson gained a majority in Parliament on Thursday, meaning there could finally be an end in sight for Brexit.
Big technology firms like Amazon, Facebook, Twitter, and Google are a potential risk if they get more heavily involved in providing financial services, says the Financial Stability Board.
France’s financial market regulator has fined Morgan Stanley €20 million (U.S. $22.2 million) for manipulating the price of French and Belgian government bonds in June 2015.
A German federal privacy watchdog has fined 1 & 1 Telecom €9.55 million (U.S. $10.6 million) for violations of the EU’s General Data Protection Regulation, but the company says it won’t accept the penalty.
Swedbank CEO Jens Henriksson announced the financial institution is making some major organizational changes “to create simpler and clearer decision-making structures to facilitate the realization of the bank’s strategy.”
Glencore announced it is under investigation by the U.K. Serious Fraud Office over suspicions of bribery, making it the third investigation the multinational commodity trading and mining company is now facing.
Some companies might scramble to comply with more—and sometimes quickly shifting—sanctions requirements as the U.S. government chalks up record enforcement levels.
The European Bank for Reconstruction and Development has imposed a record six-year term of debarment on GE Power Sweden concerning a long-running corruption scheme at 2015 acquisition Alstom Power Sweden.
The U.K. Information Commissioner’s Office has released guidance that lays out four principles—based on the GDPR—companies must consider when applying AI to their systems.
Margrethe Vestager, European commissioner for competition, once again rallied against Big Tech in a Nov. 29 speech. The politician has promised more oversight of search engines, online marketplaces, social media networks, and app sites to ensure fair markets.
The Bank of England has hit Citigroup with a record £44 million (U.S. $56.5 million) fine after it found three of its U.K. units failed to submit complete and accurate regulatory information about the lender’s capital and liquidity levels.
Uber has been stripped of its London operating license after the city’s transportation regulator identified a “pattern of failures” by the company, including several safety breaches that placed passengers at risk. It is appealing the ruling.
Alstom Network U.K., the British subsidiary of the French rail and power company, has been ordered to pay a total of £16.4 million (U.S. $20.8 million) for bribes it paid to win a contract to supply trams in Tunisia.
Machine learning isn’t something that’s going to happen—it’s already happened. Ali Shah, head of tech policy at the U.K. Information Commissioner’s Office, discusses how artificial intelligence will impact regulators.
Swiss bank UBS will pay $59 million in total civil penalties in resolutions with both Hong Kong and Swiss regulators for overcharging clients for over a decade.
It’s been 18 months since the General Data Protection Regulation went into effect, and still no violations have come out of Ireland. Is the Emerald Isle dragging its feet? CW Editor in Chief Dave Lefort attempts to answer that question.
Microsoft has updated the privacy provisions of its commercial cloud contracts amid a European Data Protection Supervisor investigation that revealed “serious concerns” in its preliminary findings.
We came, we saw, we complied. Check out some of the sights from Compliance Week’s 2019 European conference in Amsterdam!
Improving workplace equality is on the list of concerns and priorities for European employers, with many moving to address equal pay and workplace harassment, according to the findings of a newly released survey.
Companies applying the new standard on lease accounting need to provide more information on its effects, according to a new review by the U.K. Financial Reporting Council, which highlights where it expects companies to provide more comprehensive disclosure in their upcoming annual reports.
A new report from the U.K.’s Financial Reporting Council says the Big Four increased their combined “total fee income” by 4.7 percent—even amid a year fraught with accounting scandal.
The European Commission announced it has opened a formal antitrust investigation to assess whether two French groups of retailers—Casino Guichard-Perrachon and Les Mousquetaires—have coordinated their conduct in the market in breach of EU competition rules.