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“We have more muscle to enforce our goals”

21 May 2018

In her speech, Anneli Tuominen, Director General of Finland’s Financial Supervisory Authority and member of the Supervisory Board of the European Central Bank, talks about the role national supervisors play in the European system, Nordea’s move to join the banks supervised by the ECB and tighter rules for mortgage loans in Finland. The largest Nordic bank, Nordea, recently decided to relocate its headquarters from Stockholm to Helsinki to be supervised under the umbrella of the Single Supervisory Mechanism (SSM). What does this mean for the SSM? Continue reading…

Price convergence in the EU: What can we learn from the car market?

18 May 2018

The dispersion of prices between Member States of the European Union (EU) is a popular indicator of the economic integration of the internal market. Car prices in the EU converged from the 1990s until the year 2003, after which this development ceased. The remaining price dispersion between countries is systematically linked to product features, reflecting manufacturer pricing-to-market.

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Mark Dunn
Mark Dunn

Global spread

01 February 2018

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.

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Mark Dunn
Mark Dunn

Supplier Engagement – The key to reducing your Reputational Risk

17 December 2017

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.

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