All United Kingdom articles
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ArticleThree KPMG firms disciplined in $7.7M enforcement sweep
The Public Company Accounting Oversight Board announced $7.7 million in total penalties against three separate KPMG firms and four individuals for varying violations of audit standards and ethical rules.
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Barclays fined $10.2M over EU interchange fee violations
Barclays was fined £8.4 million (U.S. $10.2 million) by the U.K.’s Payment Systems Regulator for failing to provide retailers with complete information about the costs of the card services it supplied.
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RBS International names chief risk officer
The Royal Bank of Scotland International announced the appointment of Wendy Phillis as chief risk officer.
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FCA fines Julius Baer subsidiary $21.5M for bribery scheme
Julius Baer International will pay more than £18 million (U.S. $21.5 million) to settle charges laid by the U.K. Financial Conduct Authority for paying bribes to generate business with a Russian oil company.
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Experts: AML efforts dealt blow by CJEU beneficial ownership ruling
Determining the true owner of a company might become more difficult after Europe’s top court ruled automatic access to registers of beneficial ownership conflicted with the right to privacy.
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Scottish FA names compliance officer
The Scottish Football Association announced the appointment of Martin Black as compliance officer.
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Privacy advocate sues Meta over targeted ad GDPR violation claims
A privacy and human rights advocate sued Meta Platforms in the United Kingdom, claiming the social media giant is refusing her request to stop being targeted with advertising based on her use of Facebook.
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Ex-BP trader’s failed whistleblower claim to raise U.K. reporting bar?
A U.K. employment tribunal’s ruling that a former BP employee was not entitled to whistleblower protection has shone a spotlight on the legal issues workers must consider ahead of speaking up.
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Regulatory independence vital in U.K.’s fight against fraud
To do their jobs properly, regulators must be able to act independently and without government intervention. Rather than seeking to tighten its grip on regulators, the U.K. government should be safeguarding their independence as a matter of urgent priority.
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How to build an effective code of conduct
Literature and survey results regarding codes of conduct and ethics reveal the elements of strong (and weak) examples.
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CW Europe panelists: ESG reporting still in ‘immature’ phase
Companies are continuing to fail in their efforts to improve environmental, social, and governance reporting, while compliance functions are finding it tough to keep up with demands for better assurance in the area, according to experts.
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CW Europe: Compliance challenges in 2023 and beyond will look a bit different
Dealing with risks relating to artificial intelligence; diversity, equity, and inclusion; and shortfalls in staff, training, and expertise are set to be among the biggest challenges for compliance officers in 2023 and the years ahead, say practitioners.
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Glencore Energy’s $324M fine for bribery comes with warning to others
Glencore Energy UK was ordered to pay nearly £281 million (U.S. $314 million) in fines and costs after an investigation by the U.K.’s Serious Fraud Office (SFO) found it paid $29 million in bribes to gain preferential access to oil in Africa to boost profits.
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CW Europe: Rebuilding a culture of compliance post-pandemic
Remote and hybrid working caused by the pandemic has meant it can be more difficult for organizations to monitor compliance and detect incidences of rules being broken or procedures not being followed.
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FRC’s corporate governance reporting review finds room for improvement
Companies continue to improve their reporting against the U.K.’s Corporate Governance Code, but the lack of detail about the outcomes and impacts of governance policies hampers proper understanding of how risks are being managed.
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1MDB whistleblower talks of ‘paying the price’ for doing the right thing
The experience of Xavier Andre Justo—the former Swiss banker turned whistleblower in the 1MDB scandal—shows those who speak up about bribery and corruption are often the only victims of the supposed “victimless crimes” they report.
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Self-help author promotes culture of kindness at CW Europe event
Companies should consider the benefits of “being kind” to promote employee well-being and a better culture of compliance, author David Hamilton shared during a keynote speech at Compliance Week Europe.
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Greenlight Capital Re CCO to depart
Greenlight Capital Re and Greenlight Reinsurance disclosed Laura Accurso, general counsel, corporate secretary, and chief compliance officer, will depart, effective Dec. 31.
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ICO warns of ‘complacency’ in fining Interserve $5M under GDPR
The U.K. Information Commissioner warned companies not to ignore “crucial measures” to prevent cyber incidents following his office’s decision to fine construction firm Interserve £4.4 million (U.S. $5 million) for failing to secure employee personal information.
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Diversity and inclusion’s power in compliance
A panel of experts hosted by the ICA and Broadgate discussed the impact of diversity and inclusion initiatives on their own lives and why developing effective D&I policies and procedures within a firm is vital to attracting and maintaining talent.
