Mark Dunn

Mark Dunn

Segment Leader for Entity Due Diligence and Monitoring at LexisNexis

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. Continue reading…

Global banking standards and regulatory and supervisory priorities

15 December 2017

The Financial Stability Institute (FSI), the Basel Committee on Banking Supervision and the Arab Monetary Fund (AMF) held their 13th High-level Meeting for the Arab Region in Abu Dhabi. The meeting was hosted by the AMF and attended by about 170 participants representing various central banks, supervisory authorities and financial institutions in the region as well as senior officials from public and private organisations from around the world.
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EDPS calls for consistency in EU approach to criminal records

14 December 2017

There is a clear need for the EU to develop a more efficient system for exchanging information on the criminal records of non-EU citizens. At the same time, any proposal to update the current system must ensure consistency with the EU Charter of Fundamental Rights and the Lisbon Treaty and fully respect data protection principles, the European Data Protection Supervisor (EDPS) said today, as he published his Opinion on the Commission’s Proposal for a Regulation on ECRIS-TCN.
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Nordea joins first blockchain-based trade finance platform as founding partner

13 December 2017

Nordea has joined the we.trade consortium as founding partner. The consortium is, in conjunction with IBM, developing a platform based on distributed ledger technology (DLT) that aims at making domestic and cross-border commerce easier, safer and more efficient for companies. It is the first such blockchain-based trade finance platform, marking a milestone in the practical adoption of DLT in the financial industry. In entering the we.trade initiative, Nordea joins Banco Santander, Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Société Générale and UniCredit as a founder member of the consortium and extending its geographical coverage into the Nordic markets.
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Photo: https://pixabay.com

Governors and Heads of Supervision finalise Basel III reforms

13 December 2017

The Basel Committee’s oversight body, the Group of Central Bank Governors and Heads of Supervision (GHOS), has endorsed the outstanding Basel III post-crisis regulatory reforms. “The endorsement of the Basel III reforms represents a major milestone that will make the capital framework more robust and improve confidence in banking systems,” said Mario Draghi, Chairman of the GHOS and President of the ECB.
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ECB approves major projects in field of large-value payments and collateral management

12 December 2017

The Governing Council of the European Central Bank (ECB) approved the consolidation of the Eurosystem’s real-time gross settlement system TARGET2 and the securities settlement platform TARGET2-Securities (T2S), and the development of a Eurosystem Collateral Management System. Both projects will modernise existing systems and increase overall efficiency.
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Statement on RBS GRG report publication

11 December 2017

Recent disclosure of the Governance Committees meeting papers of the Financial Cunduct Autority (FCA) under the Freedom of Information Act has led to speculation about the reason that the FCA did not publish the full Skilled Person’s Report following the independent review of Royal Bank of Scotland’s (RBS) treatment of small and medium-sized enterprise (SME) customers transferred to its Global Restructuring Group (GRG). It has been suggested that FCA chose not to publish the report because they were afraid of legal action being taken against them.
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