Top Stories

Koenig_DOJ_SEC_Day2

Premium

JBS CECO on overcoming ‘fear, anxiety, and chaos’ of taking job post-FCPA settlements

2024-04-12T14:57:00+01:00By

Mike Koenig explained at Compliance Week’s 2024 National Conference how he helped rebuild JBS Foods’ compliance department following Foreign Corrupt Practices Act settlements with the Department of Justice and Securities and Exchange Commission.

CW2024 building compliance

Premium

‘You have to sell compliance’: Tips for building compliance programs from scratch

2024-04-12T18:11:00+01:00By

A panel of experienced compliance professionals shared the various approaches they took to build compliance programs from the ground up at Compliance Week’s 2024 National Conference.

European Court of Human Rights

Premium

ECHR ruling opens door to climate change litigation on basis of human rights

2024-04-15T13:47:00+01:00By

By holding the Swiss government accountable for failing to do more to limit climate change, a ruling by the European Court of Human Rights might have significant implications for legislators and organizations in other countries across the European Union.

Uphill

Premium

CFTC enforcement head talks steep path to self-reporting credit

2024-04-11T20:32:00+01:00By

Earning self-reporting credit from the Commodity Futures Trading Commission is no simple task, Director of Enforcement Ian McGinley conceded.

Jeffrey Epstein KYC/AML case study

Epstein case study cover 3x2

Premium

Case study: ‘The Banks Behind the Epstein Enterprise’

2024-03-18T15:50:00+00:00By

This Compliance Week case study offers a deep dive into the anti-money laundering compliance failures—and alleged complicity—of JPMorgan Chase and Deutsche Bank, the two banks that enabled the Jeffrey Epstein enterprise to flourish for decades.

EIC cover img

Excellence in Compliance Awards finalists announced

See the finalists for the 2024 Excellence in Compliance Awards. Winners will be announced in May and profiled by Compliance Week.

Personalize this space

Tell us the subject areas most of interest to you in your job, and we can help you find what you’re looking for quicker. By selecting from our list of topics, industries, and regions, you can customize content on this page to suit your needs.

Sign in to set your preferences

More from Compliance Week

DOJ building

Premium

What the DOJ’s whistleblower reward program needs to succeed

2024-04-10T16:48:00+01:00By

The Department of Justice is set to join a growing list of U.S. federal agencies to have a whistleblower reward program in place, but how impactful it will be at generating more white-collar investigations and prosecutions rides on its initial design, according to experts.

SEC

Premium

SEC commissioner bemoans lack of public dialogue, calls for CCO input

2024-04-09T20:33:00+01:00By

Hester Peirce of the Securities and Exchange Commission said the agency should form an advisory committee comprised of chief compliance officers as part of a wide-ranging critique of the agency’s efforts to engage with the public.

ESG

Premium

Experts: ESG gone mainstream, but new regs still create headaches

2024-04-09T18:24:00+01:00By

Environmental, social, and governance goals have gained acceptance from senior leadership because of upward pressure from employees, investors, and customers, according to compliance leaders speaking at Compliance Week’s 2024 National Conference.

Agriculture

Premium

U.K. border controls on EU goods evoke supply chain disruption concerns

2024-04-09T14:10:00+01:00By

The imposition of full border controls on goods entering the United Kingdom from the European Union will affect importers and their EU suppliers, and both are advised to prepare for increased checks, possible delays, and new charges.

CW2024 Compliance Value

Premium

Data, consumer support key to conveying value of compliance

2024-04-09T11:39:00+01:00By

Presenting data to the board and providing examples of positive consumer response to ethical decision-making help compliance departments demonstrate value beyond keeping an organization in line with rules and regulations, experts discussed at Compliance Week’s 2024 National Conference.

SEC office

Premium

SEC official breaks down agency calculus for off-channel comms penalties

2024-04-08T17:35:00+01:00By

Sanjay Wadwha, deputy director of the SEC’s Enforcement Division, discussed the agency’s rationale for issuing widely disparate penalties for off-channel communications recordkeeping violations, as well as violations of its amended marketing rule.

CW2024 leadership panel

Premium

CW2024 leadership panel on navigating scrutiny, prep for more change

2024-04-08T12:34:00+01:00By

The global political landscape should be high on the risk radar of compliance officers in 2024, according to compliance leaders speaking at Compliance Week’s 2024 National Conference, along with increased regulatory scrutiny toward forced labor, ESG, and M&A.

CW2024 women brunch

Premium

CW2024 women’s brunch panel: Five steps from compliance to the board

2024-04-05T20:45:00+01:00By

So, you think it might be fun to sit on a board someday. Panelists shared misconceptions to unlearn, factors to consider, and preparatory steps to take before rehearsing one’s board pitch during the women’s brunch held at Compliance Week’s 2024 National Conference.

California flag

News Brief

CPPA warns of collecting too much data in first enforcement advisory

2024-04-05T19:40:00+01:00By

The California Privacy Protection Agency warned businesses to stop asking for excessive information from consumers who have requested to opt out of having their data collected or who are otherwise exercising their privacy rights under the California Consumer Privacy Act.

SEC

News Brief

Legal pushback prompts SEC to stay climate-related disclosure rule

2024-04-05T16:40:00+01:00By

The Securities and Exchange Commission delayed implementation of its climate-related disclosure rule until the courts can rule on appeals filed in response to the controversial policy.

New York Supreme Court

News Brief

N.Y. compliance officer charged for embezzling $200K from employer

2024-04-05T15:49:00+01:00By

A New York-based chief counsel and compliance officer was charged for embezzling more than $200,000 from the consulting firm he worked for, the Manhattan District Attorney’s Office announced.

DOJ building

News Brief

​Ex-OneCoin compliance head jailed 4 years for fraud role

2024-04-05T15:04:00+01:00By

The former head of legal and compliance at OneCoin was sentenced to four years in prison after pleading guilty to fraud charges regarding her role in a cryptocurrency marketing scheme.

SEC headquarters

News Brief

Senvest latest rapped by SEC over off-channel comms

2024-04-04T02:48:00+01:00By

Registered investment adviser Senvest Management agreed to pay $6.5 million as part of a settlement with the Securities and Exchange Commission addressing admitted off-channel communications violations and separate code of ethics failures.

CFTC

News Brief

CFTC lauds Australian swap dealer’s cooperation in $500K enforcement

2024-04-04T01:27:00+01:00By

The Commodity Futures Trading Commission ordered an Australian swap dealer to pay $500,000 over admitted supervision failures related to a deficient spoofing surveillance tool.

CW2024 McBride

Premium

Ex-Albemarle CCO shares drivers behind data analytics success at CW2024

2024-04-04T00:41:00+01:00By

Former Albemarle CCO Andrew McBride explained at Compliance Week’s 2024 National Conference how he led the company’s compliance department to remediate the issues that led to apparent FCPA violations and how the team used data analytics to assess risks and implement compliance solutions.

CW24 AI keynote

Premium

AI expert at CW2024: Why AI needs compliance

2024-04-03T18:23:00+01:00By

If there was one takeaway Diana Kelley offered during her keynote address at Compliance Week’s 2024 National Conference, it was that artificial intelligence tools—especially generative AI—need compliance.

Accounting fraud

News Brief

Ebix: SEC probe into short seller claims closed

2024-04-03T05:04:00+01:00By

Ebix announced the Securities and Exchange Commission closed an investigation into allegations against the software company’s accounting practices raised in a short seller report.

IMG_2367_KB

Premium

CW2024 keynote tackles fundamentals of fraud detection

2024-04-03T04:34:00+01:00By

“If you want to start to know who’s lying to you, all you got to do is pay attention differently,” advised body language expert Traci Brown during her opening keynote at Compliance Week’s 2024 National Conference.

Oilfield

Premium

DOJ commodities trader FCPA sweep offers lessons in cooperation

2024-04-02T13:33:00+01:00By

The value the Department of Justice places on cooperation can be measured by studying penalties and agreements resulting from the agency’s long-running investigation into bribery and corruption by oil traders operating in Latin America and Africa.

Warner Bros

News Brief

​DOJ antitrust scrutiny pushes out 2 WBD board directors

2024-04-02T00:04:00+01:00By

Two directors on the board at media giant Warner Bros. Discovery resigned after the Department of Justice raised antitrust concerns regarding their similar positions on the board of Charter Communications.

ATT

News Brief

AT&T: Data leak exposed info of 73M customers onto dark web

2024-04-01T14:00:00+01:00By

AT&T said personal account data on approximately 73 million current and former customers was released on the dark web two weeks ago but has not yet identified when and where the breach occurred.

China flags

Premium

CBP stats show persistent problem areas under UFLPA

2024-04-01T13:33:00+01:00By and

It’s been nearly two years since the Uyghur Forced Labor Prevention Act took effect, and as enforcement statistics and recent reports demonstrate, many businesses are still not adequately vetting their supply chains.

AI Act

Premium

Need to know: How AI Act sets tone for AI regulation

2024-04-01T13:22:00+01:00By

The European Union’s AI Act follows a risk-based approach: the higher the risk the artificial intelligence poses, the stricter the rules. Understanding each category is key to compliance.

Ericsson

News Brief

Ericsson: Monitor certified anti-corruption program post-FCPA settlement

2024-03-29T18:46:00+00:00By

Swedish telecommunications company Ericsson announced its independent monitor appointed by the Department of Justice certified its compliance program satisfies the requirements ordered by the U.S. agency following its 2019 Foreign Corrupt Practices Act settlement.

AI use

News Brief

Treasury report identifies AI use ‘capability gap’ between large, small FIs

2024-03-29T17:51:00+00:00By

A Treasury Department report assessing the use of artificial intelligence tools by the financial sector identified a “growing capability gap” in in-house AI use between large and small financial institutions.

PwC building

News Brief

PwC fined $2.75M by PCAOB for independence process breakdowns

2024-03-29T15:39:00+00:00By

Big Four audit firm PwC was assessed a $2.75 million penalty by the Public Company Accounting Oversight Board for failures in its auditor independence processes related to a 2018 engagement.

Hodge_opinion

Opinion

New leadership no easy fix for Irish DPC’s GDPR woes

2024-03-29T13:41:00+00:00By

The Irish Data Protection Commission has a new leadership structure, but it is uncertain whether the changes can get the key privacy regulator caught up on enforcement of the General Data Protection Regulation.

SEC office

News Brief

SEC to review registrants’ preparation for next-day trade settlements

2024-03-28T21:28:00+00:00By

The Securities and Exchange Commission wants broker-dealers and certain clearing agencies to know the expectations for the reduction of the settlement cycle for national and international trades from two business days after the trade date to one day.

DOJ

News Brief

Gamma Healthcare, owners to pay $13.6M in DOJ false claims case

2024-03-28T21:11:00+00:00By

Missouri-based Gamma Healthcare and three of its owners agreed to pay approximately $13.6 million to settle charges levied by the Department of Justice of violating the False Claims Act by improperly billing Medicare for tests that were not ordered or medically necessary.

cisa_web

News Brief

CISA teases cyber incident reporting rule for critical infrastructure

2024-03-28T20:52:00+00:00By

Financial businesses and other critical infrastructure entities would have to report significant cybersecurity and ransomware incidents to the federal government under a new rule that will be proposed by the Cybersecurity and Infrastructure Security Agency.

Trafigura

News Brief

Trafigura pleads guilty, to pay $127M over FCPA violations in Brazil

2024-03-28T19:53:00+00:00By

Singapore-based commodity trading company Trafigura agreed to pay nearly $127 million as part of a resolution with the Department of Justice addressing violations of the Foreign Corrupt Practices Act in Brazil.

Chemours

News Brief

​Chemours: DOJ, SEC probing exec accounting misconduct

2024-03-28T14:22:00+00:00By

Chemours disclosed it received requests for information from the Department of Justice and Securities and Exchange Commission regarding findings from an internal review into alleged accounting misconduct by several of its top executives.

London Financial District

Premium

U.K. sets recommendations to address misogyny in finance

2024-03-28T13:59:00+00:00By

Sexism, sexual assault, and bullying are rife at financial services organizations, according to a recent report by the U.K. Treasury Committee. “The government and financial regulators have important roles to play in driving change,” the committee said.

Department of Labor

News Brief

DOL orders Tuff Torq to pay $1.8M over child labor violations

2024-03-28T12:22:00+00:00By

The Department of Labor ordered Tennessee-based Tuff Torq Corp. to pay nearly $1.8 million over alleged child labor violations.

Stifel

News Brief

FINRA orders Stifel units to pay $2.3M for repeat compliance failures

2024-03-27T21:55:00+00:00By

Two subsidiaries of Stifel Financial Corp. agreed to pay a collective total of about $2.3 million over alleged violations of Financial Industry Regulatory Authority rules regarding nontraditional exchange-traded products.

Whistleblower vector

Premium

NAVEX whistleblower report finds third parties lead on business integrity

2024-03-27T21:27:00+00:00By

A new report on corporate whistleblowing and hotline trends in 2023 found reporting volume at an all-time high, with key disparities uncovered between reports filed by third parties and those filed by employees.

Europe technology

Premium

Big Tech practices draw early scrutiny under DSA, DMA

2024-03-27T13:27:00+00:00By

TikTok and X are under investigation related to their respective compliance with the European Union’s Digital Services Act, while the first three companies probed under the Digital Markets Act include Apple, Alphabet, and Meta.

Bank

Premium

OCC’s Hsu: ‘Sense of fairness’ key to bank compliance initiatives

2024-03-26T19:20:00+00:00By

Acting Comptroller of the Currency Michael Hsu argued banks should adopt a “strong sense of fairness” to bolster the effectiveness of their compliance programs, particularly regarding lending decisions guided by AI and machine learning tools.

Money

News Brief

U.S. BOI efforts earn it upgraded rating from FATF

2024-03-26T15:48:00+00:00By

The United States’s progress on implementing the beneficial ownership information reporting requirements contained within the Corporate Transparency Act earned it praise from the intergovernmental Financial Action Task Force.

Energy efficiency

Premium

EU regs for energy-efficient buildings raise questions for commercial property

2024-03-26T14:00:00+00:00By

Organizations with property in the European Union should be asking more questions about their sustainability and emissions in light of revised plans to decarbonize buildings across the region.

SECcrop

News Brief

Advisor Resource Council to pay $300K over compliance lapses

2024-03-25T20:14:00+00:00By

Advisor Resource Council agreed to pay a $300,000 penalty to resolve charges levied by the Securities and Exchange Commission of compliance failures exacerbated by staffing woes.

equinix_web

News Brief

Equinix probing short seller accusations amid DOJ scrutiny

2024-03-25T19:48:00+00:00By

Data center owner Equinix disclosed it launched an independent investigation to review matters referenced in a recent short seller report that also caught the attention of the Department of Justice.

UK privacy

Premium

ICO primed for enforcement increase behind new fining guidance?

2024-03-25T13:36:00+00:00By

The Information Commissioner’s Office updated its data protection fining guidance to provide companies with greater transparency and clarity about how and why it would issue penalties for a breach of the U.K. General Data Protection Regulation or Data Protection Act 2018.

SEC building

News Brief

SEC charges attorney over independence violations post-compliance engagement

2024-03-22T20:10:00+00:00By

The Securities and Exchange Commission charged a New York-based attorney for allegedly engaging in improper conduct by violating her obligations to remain independent after preparing an independent compliance report for a company.

FDIC

Premium

FDIC proposes strengthening, modernizing bank merger reviews

2024-03-22T17:14:00+00:00By

The Federal Deposit Insurance Corporation proposed to strengthen its approach to evaluating bank mergers under the Bank Merger Act, particularly how it would address factors like competition, financial resources, the convenience and needs of communities, financial stability, and money laundering.

DOT_web

News Brief

DOT launches first data privacy review of 10 biggest airlines

2024-03-22T16:27:00+00:00By

The U.S. Department of Transportation is looking to thwart the nation’s 10 largest airlines from monetizing passenger data or selling it to third parties.

Commercelogo

News Brief

BIS rule expands export control restrictions on OFAC sanctioned

2024-03-22T15:57:00+00:00By

The Bureau of Industry and Security adopted a final rule to extend its export restrictions across more entities and individuals designated under certain sanctions programs maintained by the Office of Foreign Assets Control.

adani_web

News Brief

Adani Group on defense over reports of FCPA probe

2024-03-21T18:21:00+00:00By

Indian conglomerate Adani Group said it is aware of an investigation by the U.S. Department of Justice into bribery allegations against a “third party” but denied a relationship with it.

KPMG

News Brief

PCAOB fines KPMG China partners combined $150K over audit violations

2024-03-21T17:50:00+00:00By

The Public Company Accounting Oversight Board imposed collective fines totaling $150,000 against three partners at KPMG China for violations of standards related to their audit work at education service provider Tarena International.

equinix_web

News Brief

Short seller accuses Equinix of ‘selling AI pipe dream,’ accounting manipulation

2024-03-20T19:41:00+00:00By

Data center owner Equinix boasts artificial intelligence as a boon to business when power consumption costs related to implementing AI could be detrimental to its profitability, according to short seller Hindenburg Research.

LinkedIn Group