The Norwegian data protection authority Datatilsynet has made available Supreme Court Judgment: HR-2013-002340A (31 January 2013 - Norwegian language version available only), concerning the use of GPS data by the company Waste Services to track the whereabouts of its vehicles and to use this data to process timesheets for the payment of wages.
The United Kingdom (UK) Financial Services Authority (FSA) has announced that it has fined three Lloyds Banking Group entities (LBG) a total of £4,315,000 for systems and controls failures which delayed redress payments to customers who had been mis-sold payment protection insurance (PPI). LBG breached FSA rules by failing to make, within 28 days of sending them payment decision letters, redress payments to 140,209 PPI complainants, including 8,800 complainants who waited for over six months. In addition to delaying redress payments, LBG also neglected to keep complainants appropriately informed, due to deficiencies in operational processes.
The United Kingdom Financial Services Authority (FSA) has announced that it has fined Nestor Healthcare Group Ltd (Nestor) £175,000 for weak procedures resulting in failures to properly apply its own policy regarding staff who intend to deal in Nestor shares. According to the FSA, Nestor board members and senior executives failed to comply with both the company policy and the FSA's Model Code regarding managers who deal in their own companies' shares.
The United Kingdom Information Commissioner's Office (ICO) has announced that the Nursing and Midwifery Council (the Council) will pay a £150,000 penalty after breached the Data Protection Act by "los[ing] three [unencrypted] DVDs related to a nurse's misconduct hearing, which contained confidential personal information and evidence from two vulnerable children". The DVD packages were delivered by courier to a hearing venue but were found to contain no actual discs, "though the packages showed no signs of tampering", stated the ICO.
The United Kingdom Serious Organised Crime Agency (SOCA) has announced that a London man has been jailed for nine years after pleading guilty to money laundering offences. According to the SOCA, Ussama El-Kurd operated the Kensington Money Exchange and provided a "bespoke money laundering service" that laundered approximately £200 million.
The United Kingdom Office of Fair Trading (OFT) has made available The future of the consumer protection regime (8 February 2013), a speech delivered by OFT chief executive Clive Maxwell at the Trading Standards Institute Year Ahead Conference.
The United Kingdom Office of Fair Trading (OFT) has made available OFT: Our competition role - and how things are changing (6 February 2013), a speech delivered by OFT chairperson Philip Collins to the Law Society of Scotland In-house Lawyers Group in Edinburgh.
The United Kingdom Financial Services Authority (FSA) has announced that Swiss-based financial services company UBS AG (UBS) is to pay a fine and damages for its failures in the sale of the AIG Enhanced Variable Rate Fund (the Fund), which was suspended after AIG's share price collapsed during the global financial crisis (GFC). The FSA stated that UBS has been fined £9.45 million and is expected to pay approximately £10 million in compensation to customers who were mis-sold the Fund.
Barclays Bank (Barclays) chief executive Antony Jenkins has waived his bonus for 2012 in view of public interest and the "multiple issues ... making besetting the bank", concluding that "it would be wrong ... to receive a bonus". Reportedly, in addition to the £290 million fine to settle Libor rigging, Barclays has been accused of mis-selling interest rate swaps and payment protection insurance (PPI) and manipulating energy prices.
The Office of Gas and Electricity Markets (Ofgem) has called on the United Kingdom Government to grant powers to enforce the Business Protection from Misleading Marketing Regulations, which would allow Ofgem to take action against brokers mis-selling energy deals to businesses.
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