The European Commission (EC) has released the following documents that aim to reform corporate governance:
The European Commission (EC) has announced that it has handed down more than €30.7 million in fines after finding that four entities "participated in a cartel to coordinate prices for steel abrasives in Europe for over six years". According to the EC, Ervin, Winoa, Metalltechnik Schmidt and Eisenwerk Würth "had contacts on a bilateral and multilateral basis to discuss key price components of their sales in the whole European Economic Area (EEA)".
The United Kingdom Information Commissioner's Office (ICO) has made available the following documents (both dated 1 April 2014) from its enforcement action against home improvement company Amber UPVC Fabrications (Amber Windows), which made at least 524 unsolicited marketing calls between May 2011 and April 2013 to people who had registered with the Telephone Preference Service (TPS), in breach of The Privacy and Electronic Communications (EC Directive) Regulations 2003 No. 2426:
The United Kingdom Financial Conduct Authority (FCA) has fined (24 March 2014) Santander UK £12,377,800 after finding that the bank breached Principles 7 (Communications with clients) and 9 (Customers: relationships of trust) of the FCA's Principles for Business (February 2014) in the way it offered customers financial advice.
Germany's competition regulator the Bundeskartellamt (BKA) has announced fines further to those imposed in January 2014 (further information) in relation to "illegal price fixing agreements for beer".
The United Kingdom (UK) Office of Fair Trading (OFT) has announced that it has fined three estate agency businesses a total of £246,665 for breaching The Money Laundering Regulations 2007 No. 2157.
The European Commission (EC) has announced that it carried out "unannounced inspections" of the premises of unnamed companies in the automotive exhaust systems industry on 25 March 2014 as part of its investigation into suspected cartel activity and similar practices.
The United Kingdom Serious Fraud Office (SFO) has made available Ethical Business Conduct: An Enforcement Perspective (6 March 2014), a speech in which SFO director David Green discusses the SFO's role in engaging with companies that "want to do the right thing" and in seeking to build trust in the commercial arena.
The United Kingdom Ministry of Justice (MoJ) has accepted a payment of approximately £109 million from security firm G4S to settle charges that it overcharged the MoJ for electronic monitoring services.
The Council of the European Union (EU) has announced that the Committee of Permanent Representatives has endorsed an agreement between the Hellenic Presidency of the Council and European Parliament representatives on a draft directive for the disclosure of non-financial and diversity information by certain large public interest entities in the EU with over 500 employees. The draft directive would require such companies to disclose, annually, a statement of policies, outcomes and risks relating to environmental, social and employee-related matters including a description of its diversity policy, respect for human rights, anti-corruption and bribery matters. Where the company has not pursued such policies, it must explain why.
- Anti-Bribery & Anti-Corruption (32)
- Anti-Money Laundering (1)
- Authors (34)
- Business Ethics & Corporate Culture (28)
- Careful Communication & Proper Use of Computers (3)
- Code of Conduct (3)
- Competition (8)
- Compliance & Ethics Learning (1)
- Compliance & Ethics Risk Management (11)
- Compliance Programs -- In Practice (36)
- Confidentiality & Intellectual Property (5)
- Conflicts of Interest (2)
- Consumer Protection (0)
- Corporate Responsibility & Sustainability (1)
- Employment & Workplace Issues (12)
- Environment, Health & Safety (9)
- European Perspective (4)
- Financial Integrity (1)
- Government Contracting (6)
- GRC Technology (0)
- Information Security (2)
- Insider Trading (5)
- Other (3)
- Privacy & Data Protection (15)
- Records Management (0)
- Respect in the Workplace (0)
- Risk Management (8)
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