Royal Bank of Scotland received immunity from a €110 million ($146 million) fine after telling the European Commission’s competition watchdog it had tried to fix Swiss franc interest rates with JP Morgan.
Entries in European Commission (10)
A new EU-regime for statutory audits came into force on June 16, 2014. Although the new framework applies to all statutory audits, the most significant reforms relate to public interest entities (PIEs) which include listed companies, credit institutions, insurance undertakings and potentially other nationally designated entities (with significant public relevance on account of type, size and number of employees). The primary objective of the reform is to increase the quality of the statutory audit by enhancing audit independence and providing investors with better and more detailed information on key areas of risk and fraud.
Over the past two decades, trade and investment agreements between countries have increasingly ventured beyond traditional technical issues to touch upon such matters as labor conditions, environmental safeguards and corruption.
The European Commission issued a draft regulation on conflict minerals Wednesday, outlining a voluntary self-certification system that's not limited to central Africa.
A report by the European Commission describes how corruption affects member states and costs their economies around €120 billion a year.
Former Romanian prime minister Adrian Nastase was sentenced to four years in prison Monday for taking bribes.
Illegal logging is a $10 billion business, according to Interpol, and is falling into the clutches of organized crime.