Top Stories

Norfolk_Southern_web

Premium

Norfolk Southern fires CEO, CLO for affair that violated company policies

2024-09-12T16:10:00+01:00By

Norfolk Southern Corp., the railroad still cleaning up the environmental and financial damages caused when one of its trains derailed in a small Ohio town, has fired its top executive and chief legal officer after concluding they had an affair that violated company policies.

Federal Reserve

News Brief

Barr speech signals Fed to rework capital rules after pressure from industry

2024-09-12T12:46:00+01:00By

Facing intense pressure from the banking industry, the Federal Reserve Board may scale back two controversial rule proposals aimed at reducing risks of bank failures in the event of a market downturn.

John_Deere_Web

News Brief

John Deere to pay $10M to settle FCPA violations by subsidiary in Thailand

2024-09-11T14:16:00+01:00By

Illinois-based manufacturer John Deere will pay approximately $10 million in penalties and disgorgement to the Securities and Exchange Commission for violating the Foreign Corrupt Practices Act with bribes paid by a Thai subsidiary.

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

Partner Content

resolver 300x200

2024 Regulatory Compliance Outlook Survey

Provided by

This Compliance Week survey, sponsored by Resolver, a Kroll business, seeks to learn more about regulatory compliance trends, the challenges posed to your organization by the pace of regulatory change, and how your firm’s compliance function is handling those challenges.

More from Compliance Week

SEC

News Brief

SEC penalizes seven firms $3M total for impeding whistleblower protections

2024-09-09T15:34:00+01:00By

Seven public companies will pay a total of $3 million in fines for requiring employees to sign agreements containing provisions that impeded their ability to report misconduct to the Securities and Exchange Commission.

Clearview AI

Premium

Clearview AI’s GDPR fines rise to $110M total after latest penalty by Dutch DPA

2024-09-09T13:08:00+01:00By

Clearview AI was fined 30.5 million euro (U.S. $33.8 million) by the Dutch Data Protection Authority and ordered to stop collecting images of Dutch citizens in the latest enforcement action against the U.S. company.

SEC

News Brief

Circor avoids fine after self-reporting accounting control violations to SEC

2024-09-06T16:57:00+01:00By

Massachusetts-based technology company Circor International settled charges with the Securities and Exchange Commission regarding deficient internal accounting controls without paying a fine.

U.K. money laundering

Premium

Experts warn U.K. money laundering cases to ‘significantly increase’

2024-09-06T12:00:00+01:00By

The U.K. has an ongoing problem with money laundering, but recent changes to economic crime law and corporate registration requirements could bring more cases to court, according to consultancy KPMG.

cisa_web

News Brief

CISA creates new portal for businesses to file cyber incident reports

2024-09-05T19:08:00+01:00By

The U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency has created a new online portal for organizations to voluntarily report cybersecurity incidents, including ransomware attacks.

SEC

News Brief

SEC fines Nationwide Planning, affiliates combined $240K over impeding whistleblowers

2024-09-05T18:19:00+01:00By

Broker-dealer Nationwide Planning Associates and two affiliated investment advisers impeded potential whistleblowers from reporting misconduct to the Securities and Exchange Commission and have agreed to settle the charges for a combined $240,000.

SEC building

News Brief

Six credit rating firms to pay $49M for off-channel comms violations

2024-09-05T14:32:00+01:00By

Six credit rating agencies will pay $49 million in fines to the Securities and Exchange Commission for allowing their employees to communicate on company business using nonapproved communication channels like Whats App and WeChat.

Raytheon

Premium

Raytheon parent to pay $200M in fines, remediation over export control violations

2024-09-05T12:00:00+01:00By

RTX Corp., the parent company of Raytheon, agreed to pay $200 million in fines and remediation to address hundreds of export control violations that led to the disclosure of sensitive military secrets.

Ruchi Kumar Web

Premium

Strengthening BSA/AML defenses: Critical role of ERTs in modern day compliance

2024-09-04T14:15:00+01:00By Ruchi Kumar, CW guest columnist

Enforcement actions in the first half of of 2024 by the Treasury Department’s Financial Crimes Enforcement Network highlight the importance of proactive measures in Bank Secrecy Act compliance rather than just being compliant.

Federal Reserve

News Brief

Fed's new capital requirement latest fallout from 2023 banking failures

2024-09-03T15:47:00+01:00By

The Federal Reserve Board will require more than 30 of country’s largest banks to maintain a minimum percentage of capital in reserve, a percentage which the Fed calculated based on their complexity and whether they are considered a global systemically important bank.

FinCEN

News Brief

FinCEN finalizes AML rules for investment advisers, cash real estate transactions

2024-08-30T20:32:00+01:00By

The Treasury Department’s Financial Crimes Enforcement Network released new anti-money laundering requirements for U.S. investment advisers and real estate professionals that attempt to close loopholes that criminals and kleptocrats have long exploited.

Raymond James

News Brief

Raymond James to pay $1.9M over failing to supervise mutual fund transactions

2024-08-30T20:02:00+01:00By

Raymond James & Associates and its subsidiary agreed to pay more than $1.9 million to settle allegations levied by the Financial Industry Regulatory Authority that it didn’t have an effective system to handle customer complaints, along with millions of direct mutual fund transactions not reasonably being supervised.

Merrill Lynch sign

News Brief

Bank of America unit reaches $3M settlement with FINRA over surveillance lapses

2024-08-30T15:44:00+01:00By

A subsidiary of Bank of America agreed to pay $3 million and take remedial measures to resolve allegations that its surveillance system didn’t detect manipulative trading, the Financial Industry Regulatory Authority said.

BCG_web

News Brief

BCG avoids criminal prosecution for FCPA violations related to bribes in Angola

2024-08-30T13:53:00+01:00By

The Department of Justice declined to prosecute Boston Consulting Group for allegedly bribing Angolan officials in violation of the Foreign Corrupt Practices Act, citing the firm’s prompt self-disclosure and timely remediation.

Nasdaq

News Brief

Nasdaq unit reaches $22M settlement with CFTC over supervision failures

2024-08-29T21:01:00+01:00By

The Commodity Futures Trading Commission fined a Nasdaq subsidiary $22 million over allegedly misleading the public, regulators, and its own compliance staff about the details of a trader incentive program.

LinkedIn Group