All United Kingdom articles – Page 2

  • Stocks
    Article

    Anatomy of an international, $194M ‘pump-and-dump’

    2022-04-20T17:46:00Z

    The Securities and Exchange Commission and Department of Justice separately announced charges against individuals who reaped more than $194 million in illicit proceeds through an international stock manipulation scheme.

  • Sanctions
    Article

    ICA Insight: Russia sanctions frequently asked questions

    2022-04-13T17:58:00Z

    Jake Plenderleith of the International Compliance Association answers selected questions from attendees of a recent ICA webinar on Russian sanctions intended to help provide clarity on what firms can do to protect themselves from exposure.

  • Deloitte
    Article

    FRC probing Deloitte over Go-Ahead audits

    2022-04-12T15:12:00Z

    The U.K. Financial Reporting Council has launched an investigation into Deloitte regarding its audits performed at passenger transport company Go-Ahead Group.

  • P&O Ferries
    Article

    Experts: P&O Ferries’ exposure of U.K. law weaknesses sets dangerous precedent

    2022-04-08T13:25:00Z

    P&O Ferries’ dismissal of 800 workers with immediate effect via prerecorded video before consulting unions or employees has united U.K. politicians of all parties to condemn the company. One problem: Its actions appear to be largely legal.

  • GreenLaw
    Article

    Greenwashing under the spotlight

    2022-04-05T11:59:00Z

    Financial institutions have outlined commitments to reduce their CO2 emissions, though many observers have noted a disconnect between what institutions are saying about climate change and what they are doing about it.

  • DOJ building
    Article

    ​DOJ declines FCPA prosecution of insurance broker JLT

    2022-04-04T11:45:00Z

    The Department of Justice informed Jardine Lloyd Thompson Group Holdings it would not face prosecution under the Foreign Corrupt Practices Act despite alleged evidence of nearly $3.2 million the company paid in bribes to Ecuadorian government officials.

  • SEC office
    Article

    Reported SEC probe of Big Four taking page from U.K. breakup plans?

    2022-03-30T18:00:00Z

    The Securities and Exchange Commission is reportedly investigating whether large audit firm consulting services affect auditor independence. Any action taken might mirror the United Kingdom’s ongoing actions to break up the Big Four’s dominance.

  • Oil
    Article

    SFO dealt blow after second Unaoil conviction overturned

    2022-03-25T16:39:00Z

    The U.K. Serious Fraud Office was dealt another blow after Paul Bond, a former sales manager at Dutch energy services company SBM Offshore, had his 42-month jail sentence overturned because the agency failed to disclose vital evidence in its Unaoil case.

  • UK data
    Article

    New ICO head strives for reassurance in first speech

    2022-03-24T19:49:00Z

    John Edwards, head of the U.K. Information Commissioner’s Office, said he wants to bring greater certainty for companies regarding their data compliance needs, especially if the government’s drive to reduce regulatory burdens results in the EU withdrawing its data adequacy decision.

  • ESG_corrected
    Article

    Where are we heading with ESG?

    2022-03-21T17:49:00Z

    Climate change is no longer a niche interest. If the trend continues, long-term views and ambitions will overtake short-term, “at any cost” profitability because appetites will change. Where must companies focus?

  • HSBC
    Article

    Learning points from HSBC’s fine for AML failings

    2022-03-14T18:55:00Z

    Significant investment in systems has not been fully effective in mitigating financial crime risk. A fine of nearly £64 million (then-U.S. $84 million) imposed on HSBC by the U.K. Financial Conduct Authority in December is a particularly potent example.

  • KPMG
    Article

    KPMG fined $1.15M for Revolution Bars Group audit failings

    2022-03-08T18:59:00Z

    The U.K. Financial Reporting Council announced a reduced fine of 875,000 pounds (U.S. $1.15 million) against KPMG for audit failings in its work at bar chain Revolution Bars Group for the fiscal years ended 2015 and 2016.

  • Source of wealth
    Article

    Source of funds/source of wealth: Knowing the difference and best practices

    2022-03-04T12:50:00Z

    With the similarity of their nature and how they overlap, not to mention how often they are mentioned in the same breath, it can easily lead to confusion when trying to remember which is which between source of funds and source of wealth.

  • Wildlife
    Article

    How compliance can help prevent illegal wildlife trade

    2022-03-01T18:50:00Z

    Developing a reasonable understanding of the supply chain is the first step in ascertaining whether corporate entities might inadvertently participate or facilitate illegal trading in wildlife.

  • Barclays
    Article

    Barclays fined $1.05M for Premier FX oversight failures

    2022-02-28T18:11:00Z

    The U.K. Financial Conduct Authority fined Barclays Bank £783,800 (U.S. $1.05 million) for “oversight failings” in its relationship with collapsed money remittance firm Premier FX.

  • Locked files
    Article

    Lawsuit by BitMEX co-founder could test GDPR’s reach over SARs

    2022-02-28T15:59:00Z

    Ben Delo, co-founder of cryptocurrency exchange BitMEX, filed a complaint against Wise Payments after the company allegedly refused his requests under the General Data Protection Regulation to provide him with personal information it submitted via suspicious activity reports.

  • SFO
    Article

    SFO probing Arena Television collapse

    2022-02-24T17:30:00Z

    The U.K. Serious Fraud Office announced an ongoing criminal investigation into the business practices of individuals associated with collapsed outside broadcast company Arena Television and its linked entities.

  • U.K. attorney general office
    Article

    Attorney general turns up heat on SFO with probe into Unaoil lapses

    2022-02-11T14:39:00Z

    The U.K. attorney general is carrying out a review into why—and how—the Serious Fraud Office managed to botch a bribery investigation into Unaoil that saw one of the oil and gas consultancy’s former executives have his conviction overturned.

  • Net zero
    Article

    Making the transition to net zero in the United Kingdom

    2022-02-10T16:01:00Z

    As the United Kingdom aims to become “the world’s first net zero-aligned financial center,” financial institutions are being required to have “a robust firm-level transition plan setting out how they will decarbonize.” Where should they start?

  • KPMG
    Article

    KPMG facing $1.8B lawsuit over Carillion audits

    2022-02-04T18:29:00Z

    KPMG is facing a £1.3 billion (U.S. $1.8 billion) lawsuit for missing “red flags” during its audits at failed construction company Carillion, which creditors say was insolvent more than two years before it collapsed.