European Commission improves corporate investigations technology
- — 20 November, 2012 19:10
The European Commission is bumping up its corporate investigatory powers with new technology that can quickly analyse unstructured data at companies as part of competition enquiries.
The EU Directorate General (DG) for Competition has selected Nuix technology for its inspections at corporate premises. DG Competition said it chose Nuix for its ability to provide in-depth investigations across "huge unstructured data sets in very short timeframes using a small hardware footprint".
DG Competition investigates companies that may have breached competition rules through cartels or other anti-competitive practices. It also examines proposed corporate mergers that may significantly reduce competition.
These investigations can involve analysing corporate data onsite during surprise or announced inspections and at DG Competition's headquarters in Brussels.
A number of organisations also use the Nuix technology to proactively investigate their operations to ensure they comply with regulations - preferably before the regulators arrive at the door.
The Australian Securities and Investments Commission, Japan's Securities and Exchange Surveillance Commission, the UK Financial Services Authority and the US Securities and Exchange Commission also use Nuix.
In other European legislative news, the justice commissioner recently told ministers from European Union member states she was prepared to offer some concessions to small businesses and the public sector in revising forthcoming data protection regulation.