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2024 Regulatory Compliance Outlook Survey
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.
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More from Compliance Week
SEC penalizes seven firms $3M total for impeding whistleblower protections
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’s GDPR fines rise to $110M total after latest penalty by Dutch DPA
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.
Circor avoids fine after self-reporting accounting control violations to SEC
Massachusetts-based technology company Circor International settled charges with the Securities and Exchange Commission regarding deficient internal accounting controls without paying a fine.
Experts warn U.K. money laundering cases to ‘significantly increase’
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 creates new portal for businesses to file cyber incident reports
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 fines Nationwide Planning, affiliates combined $240K over impeding whistleblowers
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.
Six credit rating firms to pay $49M for off-channel comms violations
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 parent to pay $200M in fines, remediation over export control violations
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.
Strengthening BSA/AML defenses: Critical role of ERTs in modern day compliance
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.
Fed's new capital requirement latest fallout from 2023 banking failures
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 finalizes AML rules for investment advisers, cash real estate transactions
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 to pay $1.9M over failing to supervise mutual fund transactions
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.
Bank of America unit reaches $3M settlement with FINRA over surveillance lapses
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 avoids criminal prosecution for FCPA violations related to bribes in Angola
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 unit reaches $22M settlement with CFTC over supervision failures
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.
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