In his speech Christopher Woolard, FCA Executive Director of Strategy and Competition: “There’s a danger, when you’re up to your neck in policy proposals, economic analysis and focus group findings, that you could forget that regulation of the credit sector is not a cold academic exercise. Those of us engaged with this issue know the truth: that for millions of people credit is woven through the fabric of everyday life. In Glasgow 41% of adults have outstanding, non-mortgage debt, with 11% of adults in particularly high-cost credit debt.”
As the supervisory authority for Europol, the EDPS is responsible for providing Europol with advice on all matters concerning the processing of personal data. This includes proposals for internal rules or administrative measures relating to the protection of the fundamental rights of individuals or the transfer and exchange of personal data. In 2017 Europol published its first Europol Opinion, which concerned Europol’s Integrated Data Management Concept (IDMC) Guidelines.
In October 2016 the International Standards Organisation issued the ISO 37001, a new standard that organisations and companies can use to certify their anti-bribery and corruption compliance procedures. The ISO 37001 was agreed by standards bodies in 37 countries and it is already being promoted by many countries across the world. Peru became the first Latin American country to implement the standard. One reason given for this is that in 2015 the country lost nearly $4 billion because of misappropriation of public funds, bribery and other types of corruption. The government of Montreal in Canada has appointed someone to analyse and propose how to apply the principles of the ISO 37001 to the city. Earlier, Singapore’s Corrupt Practices Investigation Bureau (CPIB) launched the Singapore Standard, which is based on the ISO 37001. The standard has also been widely adopted in the Middle East and North Africa. Colin Keeney of Deloitte notes that six of the 37 countries involved in crafting the standard came from this region.
Sarah Rapson, Director, Financial Conduct Authority (FCA) gave a speech about the approach of the FCA to authorisation, on which they have just consulted. In her speech she will focus on three things: How FCA use authorisation to deliver their Mission. How FCA help firms to meet FCAs minimum standards and how FCA improves their approach and being more transparent about their performance.
Brand reputation has never been more important in influencing consumer and stakeholder decisions. At the same time, brand image can alter extremely quickly thanks to the increasingly instant nature of the media and the profile of public opinion. Witness the impact of the negative media attention on Marks and Spencer’s and their Turkish supply chain using Syrian refugees in their factories or the consumer backlash on grocery brands when suppliers’ use of forced labour on fishing boats came to light. A brand’s reputation now depends not only on the practices of their own organization, but of their entire supply chain. Effective supplier engagement is essential in order to position your organization as an ethical and responsible business and maintain stakeholder trust – but the key enabler to this is to first build transparency and visibility through due diligence and ongoing risk monitoring.