All U.K. articles – Page 4
-
Blog
U.K. First in EU to Implement Tougher Transparency Rules for Extractives
Image: Jan. 8—The new year brought tougher transparency rules for listed European Union firms in the extractives and logging sectors, as the United Kingdom became the first to implement a new transparency directive ahead of the July deadline. Now oil, gas, and mining firms are required to prepare annually a ...
-
Blog
U.K. Stress Tests Show Few Capital Hiccups, Improved Resiliency
Image: Dec. 17—Three of eight major U.K. banks reviewed by regulators need to bolster their capital positions, but overall the banking system’s resiliency has improved, according to results of Bank of England stress tests meant to test banks’ ability to withstand a housing shock. “The results show that the core ...
-
Blog
Swiss ‘FIFA Law’ Turns Sports Execs Into Politically Exposed Persons
Image: Dec. 17—After years of grappling with corruption allegations against international sports federations based within their borders, Swiss lawmakers have passed a measure to criminalize corruption in sports and add sports federation heads to the definition of politically exposed persons facing enhanced scrutiny from banks. Swiss legislator Roland Büchel, who ...
-
Blog
U.K. Financial Regulator Sharpening Focus With New Structure
Image: Dec. 10—The Financial Conduct Authority, which took over financial regulation for the United Kingdom in 2013, is undertaking a complete restructuring to better deliver on its objectives, protect consumers and market integrity, and promote competition. The agency announced that certain divisions will be consolidated with new ones created for ...
-
Blog
Denmark Comes Out on Top in TI’s Anti-Corruption Rankings
Image: Title: UgazDec. 3—Denmark took the top honor in the watchdog group Transparency International’s annual corruption perceptions index, ranking the cleanest of the 176 global economies reviewed. Denmark also tied for first place in last year’s index. Overall, more than two-thirds of the countries fell below a score of 50, ...
-
Blog
U.K. Fraud Office Gets Mixed Review Following Inspection
Image: Title: FullerDec. 4—The U.K.’s Serious Fraud Office has made some progress in fixing issues with staffing training, resource levels, and how it investigates complex cases, but more work needs to be done, according to a report from Her Majesty’s Crown Prosecution Service Inspectorate. “There has been genuine commitment from ...
-
Blog
U.K. Regulators Fine RBS, Two Others £56M for IT Lapses
Image: Title: McDermottNov. 25—Financial regulators in Britain fined Royal Bank of Scotland, National Westminster Bank, and Ulster Bank a combined £56 million last week for IT failings in the summer of 2012 that left customers without full access to ATMs, online payments, and other banking services. The joint enforcement action ...
-
Blog
Bank of England Chief Suggests Rules Needed for Bankers’ Fixed Pay
Image: Title: CarneyNov. 19—Even though caps on banker bonuses in the European Union are still generating controversy, some are calling for new rules for bankers’ fixed pay. Bank of England Governor and Financial Stability Board Chairman Mark Carney said during a speech this week that new rules on bankers’ fixed ...
-
Blog
U.K. Fraud Office’s GC Offers Advice to Corporates for DPAs
Image: Title: GreenOct. 29—The general counsel for the U.K.’s Serious Fraud Office has provided some advice for companies interested in taking advantage of newly approved deferred-prosecution agreements if faced with an investigation from the SFO. Alun Milford, the SFO’s general counsel, said in a speech that the key factors for ...
-
Blog
U.K. Businesses in Spotlight in Massive Money Laundering Scheme
Image: Title: ClarkeOct. 22—An investigative report published last week by The Independent revealed that 19 businesses registered in the United Kingdom are under suspicion for involvement in a complex money laundering scheme that cleaned £12.5 billion in illicit money over four years. The report cited corporate secrecy laws that make ...