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Blowing the whistle in 2023
Date: December 27, 2022
By Jan Stappers, EU Whistleblowing Specialist at NAVEX Whistleblowing means holding power to account. However, when people hear about whistleblowing, it’s usually because it has already hit the front pages as a huge scandal — on the scale of Theranos’ recent conviction. When most reports in the public consciousness are of this magnitude, it can...
Austrian regulator orders system-relevant banks to up capital buffers
Date: December 22, 2022
BERLIN (Reuters) – Austrian banking regulator FMA said on Thursday it has ordered system-relevant banks in the country to increase their capital buffers by 0.25 percentage points to 0.5 percentage points, in response to uncertainty triggered by the war in Ukraine. The buffers are to be built up gradually by end-2023, FMA said in a...
EU opens antitrust probe into broadcom’s $61 billion VMware bid
Date: December 21, 2022
PARIS (Reuters) -European antitrust regulators have opened an in-depth investigation into U.S. chipmaker Broadcom’s proposed $61 billion bid for cloud computing company VMware, the European Commission said on Tuesday. “The Commission is particularly concerned that the transaction would allow Broadcom to restrict competition in the market for certain hardware components which interoperate with VMware’s software,”...
British bank TSB fined 48.7 million pounds over botched IT migration
Date: December 20, 2022
By Tom Wilson and Jesús Aguado LONDON/MADRID (Reuters) -British lender TSB has been fined 48.65 million pounds ($59.1 million) over a botched IT platform migration in 2018 that locked millions of its customers out of their accounts, UK regulators said on Tuesday. The IT upgrade “immediately experienced technical failures”, the Financial Conduct Authority (FCA) and...
Medical device makers drop products as EU law sows chaos
Date: December 19, 2022
By Maggie Fick LONDON (Reuters) – Nicola Osypka’s German company has been selling medical devices used in surgery on newborn babies in Europe for decades, but new European Union rules have forced her to make tough decisions. Under the regulations designed to prevent another health scandal, such as the one in 2010 involving ruptured breast...
Metro bank, former top bosses fined over reporting error
Date: December 12, 2022
By Iain Withers LONDON (Reuters) – British challenger bank Metro and two of its former executives have been slapped with fines by regulator the Financial Conduct Authority, over reporting errors that wiped hundreds of millions of pounds off its share value in 2019. The Financial Conduct Authority said on Monday it had fined Metro Bank...