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Nicole Argentieri, acting head of the Department of Justice’s Criminal Division, explained how the actions of Jardine Lloyd Thompson Group Holdings coming forward helped bring about the agency’s recent FCPA enforcements against Tysers Insurance Brokers and H.W. Wood.
TD Private Client Wealth agreed to pay a $600,000 penalty levied by the Financial Industry Regulatory Authority for allegedly failing to review millions of employee emails as required by the self-regulatory organization’s rules.
In this episode of the Digital Transformation of Compliance podcast series, Kyle Welch, a George Washington University associate professor of accountancy, discusses findings from his research on internal whistleblowing and compliance dashboards built by publicly traded U.S. companies to leverage hotline data.
Australia released an updated cybersecurity strategy that will rely more heavily on public-private partnerships to support the country’s cyber defense efforts.
Risks posed by money laundering and the financing of terrorism have dramatically increased in Singapore, according to a recent survey of the city-state’s financial institutions conducted by the Monetary Authority of Singapore.
The success of the U.K.’s latest legislative efforts to tackle financial crime depends on the capability of transforming what is often regarded as one of the country’s most passive regulators into a proactive—even aggressive—prosecuting authority.
U.K. companies might be wary of informing regulators they have potentially violated sanctions against Russia over fears they could be publicly criticized for even minor breaches.
Federal agencies hit Binance with more than $4.3 billion in penalties and imposed multiple compliance monitorships on the virtual currency exchange as punishment for its repeated and intentional violations of U.S. anti-money laundering laws, sanctions, and other regulations.
Saint Joseph’s Medical Center agreed to pay $80,000 as part of a settlement with the Department of Health and Human Services’ Office for Civil Rights for potential violations of the Health Insurance Portability and Accountability Act.
Two U.K.-based reinsurance brokers, Tysers Insurance Brokers and H.W. Wood, reached separate settlements with the U.S. Department of Justice addressing their participation in a wide-ranging scheme to pay bribes to Ecuadorian government officials.
New guidance released by the Cybersecurity and Infrastructure Security Agency offers best practices for organizations in the healthcare and public health sector to adopt to combat rising cyber threats.
The new messaging on use off-channel communications for business should be clear: What was done before is no more. It cannot continue. The stakes are too high.
Morgan Stanley agreed to pay $6.5 million as part of a settlement with six states requiring the firm to strengthen its data security after actions it took compromised the personal data of millions of customers.
France’s top court struck down a fine of €1.8 billion (U.S. $2 billion) imposed on UBS in 2021 by a lower court, despite upholding a guilty verdict related to money laundering and tax fraud in the Swiss bank’s cross-border activities.
Pharmaceuticals company Lifecore Biomedical won’t face prosecution for apparent violations of the Foreign Corrupt Practices Act after satisfying multiple factors of the Department of Justice’s recently updated voluntary self-disclosure policy.
The chief compliance officer of a defunct pharmacy holding company was sentenced to 4 1/2 years in prison after being found guilty of conspiracy to commit healthcare fraud and wire fraud earlier this year.
The Consumer Financial Protection Bureau levied a $15 million fine against nonbank online lender Enova International for “widespread illegal conduct” that violated a previous agency order.
The Securities and Exchange Commission continued its recent run of pushing through remaining regulations under the Dodd-Frank Act of 2010 by adopting new rules to mitigate conflicts of interest for security-based swap clearing agencies.
Prema Thekkek and the six skilled nursing homes she owned through her company, Paksn, agreed to pay $45.6 million in entering a consent judgment with the Department of Justice to resolve allegations employees paid kickbacks to doctors who brought patients to them.
Establishing a set of policies and procedures to prevent employee use of nonauthorized electronic communications to conduct business is relatively straightforward. The hard part is monitoring compliance.
Just because Alison Rose received a public apology from the U.K. Information Commissioner’s Office regarding the suggestion she might have violated the General Data Protection Regulation doesn’t mean NatWest could avoid sanction.
The Japanese affiliate of Big Four audit firm KPMG was assessed a $500,000 penalty by the Public Company Accounting Oversight Board for quality control deficiencies regarding journal entry testing.
New York hospitals would be required to have a cybersecurity program that includes regular cyber risk assessments under newly proposed regulations.
The Securities and Exchange Commission fined Charter Communications $25 million for violating internal accounting control requirements related to stock buybacks.
The Securities and Exchange Commission and Commodity Futures Trading Commission have combined to levy nearly $2.8 billion in penalties (so far) against firms and their affiliates in response to recordkeeping failures regarding employee use of off-channel communications for business purposes.
Firms monitoring employee use of off-channel communications for business purposes face numerous obstacles. How much is enough, in the opinion of regulators? How much is too much, in the eyes of employees? Determinations must be made as regulators crack down.
A big year for disgorgement helped the Securities and Exchange Commission to its second highest total of financial remedies ordered in a single year in fiscal year 2023.
The Greece-based branch of Big Four audit firm PwC agreed to pay $3 million as part of a settlement with the Public Company Accounting Oversight Board addressing alleged failures in due professional care and appropriate skepticism regarding an audit of a marine fuel logistics company.
The U.K. Serious Fraud Office launched an investigation into collapsed law firm Axiom Ince and an estimated £66 million (U.S. $82.5 million) worth of client funds that went missing.
With a moving target for compliance under the EU’s Whistleblower Directive, the opportunity exists for companies to set their own standards on whistleblowing and engender greater trust among employees, according to a panel at Compliance Week’s Europe conference in London.
New guidance from the Department of Health and Human Services is designed to apply generally to the healthcare industry, from doctors to pharmaceutical manufacturers, and help all such entities self-monitor their compliance and prevent waste, fraud, and abuse.
Between changes in technology and regulation and worsening geopolitical tensions, the compliance officer is being tested like never before. Those who will succeed in this environment are the ones that will be open to change, a panel discussed at Compliance Week’s Europe conference in London.
A panel of legal experts breaks down how to handle an all-out crisis, from whom to involve, what to disclose to regulators, and how to conduct a proper investigation.
Axpo Italia, a producer and trader of renewable energy products, was penalized under the General Data Protection Regulation by the Italian data protection authority for processing inaccurate and outdated personal data of customers.
The former head of legal and compliance at OneCoin pleaded guilty to fraud charges regarding her role in a cryptocurrency marketing scheme that generated more than $4 billion in sales and revenue.
A new report from KPMG predicted the banking and financial services industries will be hit with unprecedented regulatory intensity in 2024, with regulators expecting compliance deficiencies to be addressed more thoroughly and quicker than ever before.
The wealth management arm of Morgan Stanley is being probed by the Federal Reserve regarding the controls it has in place to prevent wealthy foreign customers from laundering money, according to a report from the Wall Street Journal.
A panel of experts broke down the nuts and bolts of integrating a risk-ranking strategy and tailored approach to third-party due diligence at CW’s virtual TPRM and Oversight Summit.
Citi agreed to pay $25.9 million in fines and redress as part of a settlement with the Consumer Financial Protection Bureau addressing allegations the bank discriminated against credit card applicants identified as Armenian American.
A New York state law that takes effect next year will make it more difficult for registered investment advisers in the state to conduct proactive testing for violations of their firms’ off-channel communication policies.