NON COMPLIANCE INVESTIGATION
Proactive measures against cyber vulnerabilities are vital: Here’s how companies can get started
CEOs and CTOs should prioritize autonomous patching plans to enhance security. Collaboration between security and IT is crucial for effective patching. Analyzing results and ensuring vulnerability compliance are essential. Autonomous patching boosts risk management and operational efficiency, reducing costs and maintaining compliance in a dynamic cybersecurity landscape.
ArcelorMittal rejects report on violating pollution rules in Bosnia
ArcelorMittal on Friday rejected as inaccurate a report by a group of investigative media that accused the global steel giant of operating its Bosnian steelworks despite non-compliance with ecological standards. NGOs accuse ArcelorMittal of using the Olympics to try to restore its ecological image. rus/ljv/imm
Meta hit with privacy complaints in Europe over AI plans
A Vienna-based privacy campaign group filed complaints in 11 European countries against Meta on Thursday, saying the global tech giant's planned privacy policy change would allow "unlawful" use of personal data for artificial intelligence technology. Through the complaints, the group asks data protection authorities in the 11 European countries to stop Meta's new privacy policy before it enters into force in late June and fully investigate it.
Airlines, hotels, retailers fear being left out in Google's search changes
Airlines, hotels, and retailers urge EU tech regulators for fair treatment in Google's compliance with DMA regulations. Concerns raised about revenue impact as Google's response focuses on changes favoring large intermediaries and aggregators, with ongoing investigations by the Commission.
81% of ad violations were on account of misleading claims in FY24: ASCI
ASCI examined 10,093 complaints and investigated 8299 advertisements. The majority of violations were on account of misleading claims at 81%, followed by ads that promoted harmful situations or products at 34% (the same ad can be processed for multiple objections).
Brazil judge gives X five days to explain alleged non-compliance with court ruling
Brazil's Supreme Court probes X's compliance with blocking orders, involving Musk, amid accusations of spreading fake news and a coup attempt. X faces scrutiny for allowing active accounts despite court directives.
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EU assesses Apple's compliance plan for music streaming order
EU reviews Apple's proposal for Spotify to offer off-App Store payment options. Spotify can link to external sites for transactions. Users may get email links for music purchases. Apple risks fines for non-compliance.
As Big Tech scrambles to meet EU rules, investigations seen as likely
If any of the six tech giants are not compliant with the Digital Markets Act (DMA) by the EU's Thursday deadline, they could face fines up to 10% of their global turnover.
Excise Policy Case: Court summons Delhi CM Kejriwal for non-compliance with ED summons
Delhi's Rouse Avenue Court has summoned Chief Minister Arvind Kejriwal once again for allegedly not complying with previous summons from the Enforcement Directorate (ED). The court will hear the matter on March 16.
On KYC compliance front, payment aggregators may be second to some
As fintech startups try to onboard merchants faster than competition, they’re mostly conducting only the basic checks prescribed by the RBI and skipping enhanced due diligence which could help keep fraudsters away. Large payment companies are approaching KYC more as a security checklist — perhaps for cost considerations — than a monitorable mandate by the RBI.
FCRA license of leading think tank CPR revoked by Union Home Ministry over alleged violations
The Union Home Ministry canceled the Foreign Contribution Registration Act (FCRA) license of the Centre for Policy Research (CPR), a prominent public think tank, citing multiple violations of FCRA regulations. The ministry alleged that CPR, registered for "educational activities," utilized foreign funding for litigation activities and funded protests against development projects, including coal mines. Investigations revealed the diversion of foreign donations to non-FCRA entities to support legal battles and protests, violating FCRA guidelines.
Turkish competition board to fine Meta $160,000 per day for non-compliance
In a statement, the Turkish Competition Board said the result of a 2022 online video advertising market investigation required Meta to submit a document detailing compliance measures to stop its violation of the law and to reestablish competition in the market.
'Community very shaken': Hindu community in Canada organizes forum to address rising violence and extortion threats
The Hindu community in Surrey, Canada, responds to extortion threats and violence, organizing a forum following RCMP warnings. Recent shootings and intimidating letters have caused fear among residents. Extortion schemes, linked to Indian organized crime groups, exploit personal information and have sparked a multi-province investigation. Despite arrests, no charges have been filed, prompting concerns for the safety of the South Asian community. Multiple police agencies are involved, addressing escalating violence tied to non-compliance. India's External Affairs Ministry also expresses concern.
BBC World India to rejig shareholding, seeks time till end of FY24 to ensure compliance with FDI norm
BBC World Service India disclosed that it had received a letter from the ministry of information and broadcasting dated March 31, for alleged non-compliance with FDI norms. The company said it has sought time until March 31, 2024, for compliance, and communicated its restructuring proposals to the ministry.
SEBI required to act in public interest: HC raps regulatory body for non-compliance of court order
"SEBI is a public body, it is required to act in public interest, it needs to comply with the orders passed by this Court," HC said. The court said it was constrained to make such remarks as it was quite "astonished" by the stand taken by the SEBI in the present case.
Muslim boy slapping row: SC slams UP govt over non-compliance of order
The Supreme Court criticised the Uttar Pradesh government for not adhering to its order to provide counseling to a Muslim boy and his classmates allegedly instructed by a teacher to slap him. The teacher is accused of making communal slurs against the victim. The court expressed disappointment with the state's approach, appointed Tata Institute of Social Sciences (TISS) to suggest counseling methods, and directed UP to support TISS.
WhatsApp clampdown highlights video call compliance threat for finance firms
A sector-wide crackdown led by the US Securities and Exchange Commission (SEC) has focused on business-related text messages over unauthorised platforms, such as WhatsApp, which went untracked and unrecorded by regulated firms, largely during Covid-19 lockdowns when thousands of employees were working from home.
Sebi imposes Rs 35 lakh fine on MI Research for flouting regulatory norms
The order came after Sebi conducted an examination into the business of MI Research with respect to compliance of the entity with IA (Investment Advisers) regulations.
EU designates six big tech gatekeepers under DMA, introduces provisions for fines
The European Commission has also opened four market investigations to further assess Microsoft's and Apple's submissions arguing that, despite meeting the thresholds, some of their core platform services do not qualify as gateways
VCs get more involved in CXO search at early-stage startups
This comes at a time when the Indian startup ecosystem has been mired in a spate of financial mismanagement, flurry of layoffs and reports of non-compliance with regulations.
27 cases of non-compliance by govt depts to punish corrupt, maximum by railways: CVC
Government departments in India have differed from the Central Vigilance Commission's advice to punish corrupt officials in 27 cases, according to an official report. The Ministry of Railways had the highest number of instances, with seven cases of non-compliance. The report also highlighted instances where major penalties advised by the Commission were reduced to minor penalties by disciplinary authorities.
ED challenges anticipatory bail to Vadra, claims non-compliance with bail conditions
The Enforcement Directorate (ED) has challenged the anticipatory bail granted to Robert Vadra, who is facing allegations of money laundering in a property purchase in London. The ED has accused Vadra of failing to comply with the bail conditions and requested a hearing to present an additional affidavit to demonstrate this breach.
Binance, world's top crypto exchange, at center of US investigations
The exchange offers spot and derivatives trading and a host of services from non-fungible tokens (NFTs) to crypto loans and asset management.
North-East Delhi violence: Delhi Court raps investigating officer for playing "hide and seek", non-compliance of direction
The Court also sought a report from the concerned Deputy Commissioner of Police (DCP). "It is apparent that the IO had been trying to play hide and seek from this court and misleading the court," it said.
GST audit checklist: Ensuring compliance and mitigating risks
GST law in India is complex and to an extent ambiguous, and we have seen that businesses have suffered due to lapses made in assessment and other compliances.
EY Forensics and Integrity Services launches learning-as-a-service in ethics and compliance
EY Forensic and Integrity practice has trained 15000-plus professionals so far in the areas of code of conduct, anti bribery, anti-corruption, anti money laundering etc. and aims to target 50,000 in 2023 with this launch.
Court issues contempt notice to Delhi Police Commissioner for 'deliberate non-compliance' of orders
Accordingly, notice be issued to the Commissioner of Police, Delhi, to show cause as to why contempt proceedings be not initiated against him for non-compliance of orders, Additional Sessions Judge Sandeep Yadav said in an order dated August 31.
IDBI Trusteeship faces Rs 1-lakh fine for non-compliance of debenture trustee norms
Accordingly, by failing to conduct inspection of the books of accounts, records, registers of FHHPL, the noticee has violated DT (Debenture Trustees) Regulations. She also noted that the noticee had not taken any reasonable and necessary steps to fulfil its obligations, and hence can be made liable for the neglect and failure of FHHPL.
Sebi penalises 8 individuals for breach of insider trading norm in Titan shares
The order came after Sebi received a letter from Titan Company Ltd (TCL) wherein the firm intimated the regulator about alleged violations of Prohibition of Insider Trading (PIT) rules and the company's code of conduct by some of its persons/ employees.
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