This proposal aims to harmonise the rules on transfer of criminal proceedings within the EU. Member States currently transfer criminal proceedings between themselves using a patchwork of different legal instruments. For example, the European Convention on the Transfer of Proceedings in Criminal Matters of 15 May 1972 was ratified and applied only by 13 Member States. The majority of the Member States therefore rely on Article 21 of the European Convention on Mutual Assistance in Criminal Matters of 20 April 1959, under which transfer is largely unregulated and relies on national laws. In 1990, Member States signed an Agreement on the transfer of proceedings in criminal matters, but it has not entered into force. A measure on transfer of proceedings has been under discussion since the entry into force of the Lisbon Treaty, which changed the way EU rules in the criminal law field were presented and adopted. This proposal is delivering on the goals set in the EU strategy to tackle organised crime, which emphasises that transfer of criminal proceedings is an important tool, which would reinforce the fight against organised criminal groups that are active in the Member States across the EU. Continue reading…

The seven members of the Eurojust-supported joint investigation team (JIT) on alleged core international crimes committed in Ukraine have agreed to not only investigate alleged war crimes, but also crimes of genocide committed in Ukraine. In a working meeting of the JIT that took place in Vilnius, Lithuania, during 13-14 April, the JIT also welcomed the U.S. Department of Justice’s pledge to second a prosecutor to the International Centre for the Prosecution of the Crime of Aggression against Ukraine (ICPA).

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The European Commission has informed Broadcom of its preliminary view that its proposed acquisition of VMware may restrict competition in the market for certain hardware components which interoperate with VMware’s virtualisation software. Broadcom is a hardware company that offers, among other products, Network Interface Cards (‘NICs’), Fibre Channel Host-Bus Adapters (‘FC HBAs’) and storage adapters. Broadcom is the leading supplier of such products worldwide. It has recently started expanding into software markets, mainly for security and mainframe applications. VMware is the global leading supplier of server virtualisation software in the on-premises and private cloud environments which interoperates with a wide range of hardware, including FC HBAs and storage adapters. The companies’ portfolios are largely complementary. Continue reading…

The International Association of Insurance Supervisors (IAIS) has on 4 April published its report on the targeted jurisdictional assessment (TJA) of the implementation of the Holistic Framework supervisory material. The Holistic Framework for the assessment and mitigation of systemic risk in the insurance sector (Holistic Framework) was adopted by the IAIS in November 2019 and endorsed in December 2022 by the Financial Stability Board. The Holistic Framework recognises that systemic risk may arise not only from the distress or disorderly failure of an individual insurer, but also from insurers’ collective exposures and activities at a sector-wide level. It consists of an integrated set of macroprudential supervisory policy measures, a Global Monitoring Exercise and – as a key element – implementation assessment activities.   Continue reading…

by Donald van Deventer

Are we on the brink of a new banking crisis? In March 2023, California’s Silicon Valley Bank collapsed. Rising interest rates had made refinancing existing loans expensive and difficult. Although the US government intervened to avert a widespread banking crisis,  the financial services industry cannot ignore the alarming signs.  Asset liability management must be central in months ahead.

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The winner of the National Compliance Award as organised annually by the Netherlands Compliance Institute was announced in Rotterdam on 13 April. The winner from the group of four nominees is the VCO, the Association of Compliance Professionals. The president of the VCO, Michelle Fisser was justifiably very proud and she received the trophy from a former winner, Geert Vermeulen, who presided over the ceremony. Continue reading…

“The thriving payments industry in our country is reflected in the enthusiastic use of your services by tonnes of Dutch businesses and organisations. I only touched on integrity risks, cyber risks and credit risks, but many risks loom around the corner. In order for people and businesses to continue to rely on you, those risks need to be dealt with. They need to be mapped and measured, monitored and mitigated. And they definitely need to be a topic of conversation.” On 14 April with these words, Steven Maijoor invited all participants of the DNB Seminar ‘Supervision of Payment Institutions’ to a frank and fruitful discussion.  Continue reading…

iGaming, which covers ​​any form of online wagering, has snowballed over almost 20 years of its existence. The global online gambling and betting industry was valued at US$ 61.5 billion in 2021 and is expected to rise to US$ 114.4 billion by 2028, according to Statista. This growth is primarily due to the rising popularity of mobile devices and the availability of internet access across the world. Additionally, the introduction of new payment methods has made it easier for players to access and engage with online gaming and gambling platforms. As technologies develop, preferences shift and new tools emerge, the iGaming industry is constantly evolving. Open banking has proved to be a transformational force for a broad range of sectors – and iGaming is no exception. By using open banking, operators are given a better understanding of players’ affordability and their financial situation on the basis of bank records, income and credit reports, and other data. Thus, increasing trust between operators and players while also providing an easy and secure payment method. Continue reading…

Michel Klompmaker

On 1 December this year, we had an interview via RiskComplianceTV with Reggie de Jong at the Behavioral Risk Congress 2022, on the theme of integrity. For those who have not yet seen the interview, here is the link. In any case, it is useful to watch this interview on the possible criminal case against Airbus, Deutsche Bank, Clearstream and Deutsche Börse carefully for a while, as the following interview with Reggie de Jong is the logical sequel to it. Indeed, we are not only curious to know what the reactions were to this interview, but especially what the follow-up steps have been to date.
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