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Blockchain concept


Fed governor: Regs should engage with industry on safe DLT use in banking


Federal Reserve Board Governor Michelle Bowman argued banking regulators should move from their current reactive posture on banking innovation to a position that actively encourages new technologies, business models, and ideas to solve age-old problems.



FDIC culture scandal begs question: Why don’t regs have CCOs?


Regulators and government agencies often speak to the value of empowered corporate compliance programs to advancing their mission. Why not practice what they preach by empowering compliance among their own ranks?



Binance CEO got 4 months in prison. FTX’s got 25 years. Was compliance the difference?


Why the wild disparity in the sentences of Binance’s Changpeng Zhao and FTX’s Sam Bankman-Fried? Aaron Nicodemus argues the performance of the compliance teams at the two cryptocurrency exchanges was as big a contrast as the penalties earned by their respective founders.

Lease accounting


SEC chief accountant calls out audit leadership culture


Staff at the Securities and Exchange Commission have observed instances of audit firms setting poor examples for junior-level employees by failing to properly discipline senior leaders found to have breached ethical standards, according to Chief Accountant Paul Munter.

Jeffrey Epstein KYC/AML case study

Epstein case study cover 3x2


Case study: ‘The Banks Behind the Epstein Enterprise’


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.

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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.

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More from Compliance Week

Russian money

News Brief

Treasury details oligarch-tied Russia sanctions evasion scheme


Three Russia-based companies and an individual were designated by the U.S. Treasury Department for trying to recapture more than $1.5 billion in frozen shares owned by a previously sanctioned Russian oligarch using a complex evasion scheme.

Boeing 737

News Brief

DOJ notifies Boeing of DPA breach related to 737 MAX safety


The Department of Justice notified aerospace giant Boeing it breached its 2021 deferred prosecution agreement that required compliance commitments following high-profile crashes of its 737 MAX airplane.

TD Bank

News Brief

Canadian parliament adds to TD Bank AML scrutiny


Canadian lawmakers will come together to discuss TD Bank’s reported failure to prevent drug traffickers from laundering proceeds of fentanyl sales on its platform.

FTC seal


FTC staff lay out compliance steps for noncompete ban


Staff at the Federal Trade Commission offered several steps businesses can take to comply with the agency’s upcoming ban on employee noncompete clauses.

New York cyber-security

News Brief

NYDFS offers cyber rule compliance template for small businesses


The New York State Department of Financial Services issued guidance for small businesses attempting to comply with its cybersecurity regulations.


News Brief

Crowe U.K. dinged $181K by FRC for Aseana Properties audit failures


Crowe U.K. was assessed a penalty of £144,000 (U.S. $181,000) by the U.K. Financial Reporting Council for failures in its audit of Aseana Properties Limited’s financial statements for the year ended Dec. 31, 2019.


News Brief

PCAOB reestablishes its fundamentals with new standards


The Public Company Accounting Oversight Board adopted two new standards that address key audit areas upon which it was relying on benchmarks established more than 20 years ago.

Cybersecurity icons


Survey: Public companies fear added cyber risks from SEC disclosures


Large public companies say they are prepared to comply with the disclosure requirements of the SEC’s new cybersecurity incident rule, according to a survey conducted by Compliance Week and DLA Piper, but concerns exist that those reports could enhance the threat of future cyberattacks.

SEC office

News Brief

SEC, FinCEN propose customer ID program for investment advisers


The Securities and Exchange Commission and Financial Crimes Enforcement Network proposed a rule requiring registered investment advisers to implement customer identification programs, another facet of a coordinated attempt to close an apparent loophole in federal AML regulations.

Real estate accounting

News Brief

FSOC warns on liquidity risk by nonbank mortgage servicers


A new report by the Financial Stability Oversight Council recommended state regulators and Congress take steps to minimize “significant liquidity risk” posed by the nonbank mortgage servicing industry.


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Lawsuit: Ex-Panoramic Health assistant GC alleges retaliation linked to CCO supervisor


The former assistant general counsel at Panoramic Health is suing her former employer alleging wrongful termination after flagging safe harbor violations of the Anti-Kickback Statue.

Johnny Rockets

News Brief

FAT Brands on defense over DOJ, SEC accounting misconduct allegations


Restaurant operator FAT Brands said it would contest charges announced by the Department of Justice regarding violations of the Sarbanes-Oxley Act related to personal loans made to executive officers.


News Brief

FINTRAC fines Binance $4.4M over AML/CFT violations


The Financial Transactions and Reports Analysis Centre of Canada imposed a penalty of approximately CAD$6 million (U.S. $4.4 million) against crypto platform Binance over alleged noncompliance with the country’s anti-money laundering/countering the financing of terrorism law.

DOJ building

News Brief

DOJ launches task force on anticompetitive practices in healthcare


The Department of Justice’s Antitrust Division created a new task force to examine collusion and monopolies in the healthcare industry.

Federal Reserve

News Brief

Fed-led climate scenario analysis highlights data gaps, insurance costs


The Federal Reserve Board and six large American banks released the results of a pilot climate scenario analysis that explored how resilient the banks’ business models were to climate-related financial risks.


News Brief

​FINRA fines Merrill Lynch $825K over order execution supervision lapses


Merrill Lynch was assessed an $825,000 penalty by the Financial Industry Regulatory Authority for alleged supervision failures regarding the execution of marketable equity orders entered into its electronic order systems.


News Brief

Lululemon facing probe in Canada over greenwashing complaints


Athletic apparel company Lululemon is under investigation by the Canadian Competition Bureau regarding whether it made misleading claims about environmental aspects of its business.

FINRA New York

News Brief

FINRA enforcement roundup: Three firms fined for trade compliance lapses


The Financial Industry Regulatory Authority fined three firms—M1 Finance, Mizuho Securities, and Oppenheimer—between $250,000 and $500,000 across separate actions for failing to properly implement, monitor, and supervise internal systems that led to compliance failures.



Five reasons I’m excited for CW’s Financial Crimes Summit


Compliance Week’s Financial Crimes and Regulatory Compliance Summit will feature more than 50 prominent speakers representing government agencies, regulators, banks, investment advisers, and more tackling the top-of-mind risk areas facing the financial services industry.


News Brief

FinCEN warns financial institutions on Iran-backed terrorist organizations


The Financial Crimes Enforcement Network advised financial institutions in detecting illicit transactions related to Iran-backed terrorist organizations.

SEC building

News Brief

SEC faults former IA Gainvest for nontailored compliance manual


A Securities and Exchange Commission action against former registered investment adviser Gainvest Legal Corp. yielded a notable takeaway for others in the industry engaging consultants for compliance program support.



CW2024 panel: TPRM board buy-in earned through impact, activity


Identifying critical measures for third-party risk management has become vitally important as risk professionals face an uphill battle in fighting for resources, experts discussed at Compliance Week’s 2024 National Conference.

Working with AI


Podcast: Responsible development and implementation of AI


Three experts join the Compliance Week podcast to discuss opportunities and risks posed by artificial intelligence, as well as governance frameworks your organization can implement to ensure AI tools are utilized safely and ethically.



Report: Human error driving growing number of data breaches


Verizon’s annual data breach report shows trends in cybersecurity incidents, including more ransomware and extortion attacks last year.

Bank BW

News Brief

Regs move forward Dodd-Frank rule on risk considerations in bank exec pay


Federal regulators adopted a notice of proposed rulemaking on incentive-based compensation requiring large banks to make their executive compensation arrangements “more sensitive to risk.”

London business district

News Brief

FRC fines PwC, EY for London Capital & Finance audit failings


Big Four firms PwC and EY were each penalized by the Financial Reporting Council for alleged shortcomings during their respective audits at collapsed investment firm London Capital & Finance.


News Brief

CFPB fines Chime $3.25M over account refund delays


The Consumer Financial Protection Bureau ordered Chime Financial to pay $3.25 million in penalties for allegedly delaying consumer refunds past its promised 14-day timeframe.

DOJ building


Forecasting the DOJ’s AI enforcement priorities


Prudent chief compliance officers should ensure artificial intelligence-related risks are being properly addressed at their businesses considering growing scrutiny being paid to the technology by the Department of Justice.


News Brief

Microsoft report describes its artificial intelligence safety efforts


Microsoft published a public report covering its artificial intelligence endeavors and steps it is taking to make the controversial technology safe.


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DOJ orders Baptist Health to pay $1.5M over discount policy false claims


Florida-based Baptist Health System agreed to pay $1.5 million to settle self-disclosed violations of the False Claims Act for allegedly offering discounts to patients to induce purchases or refer services reimbursed by Medicare.


News Brief

SoFi unit fined $1.1M by FINRA for fraud prevention failures


SoFi’s brokerage unit will pay a $1.1 million fine to the Financial Industry Regulatory Authority for fraud detection weaknesses that allowed thieves to create SoFi Money accounts using fake or stolen identities.


News Brief

Federal banking regulators issue TPRM guidance for community banks


The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency combined to provide guidance on third-party risk management focused on the unique risks faced by community banks in their third-party relationships.

AI transformation


Survey: Compliance digital transformation hampered by data access, AI concerns


Few compliance teams describe their access to company data as “robust,” according to a new survey conducted by Compliance Week and NAVEX, while apprehension toward the adoption of artificial intelligence remains a hurdle for the profession to clear.



Experts: APRA chances unlikely, more state privacy laws certain


The “American Privacy Rights Act” has steep hills to climb if it’s ever going to become law, but that’s no reason for businesses to delay their privacy tune-ups.


News Brief

DOJ orders Hahn Air to pay $27M over travel fee false claims


Hahn Air Lines and its U.S. subsidiary agreed to pay $26.8 million to settle alleged violations of the False Claims Act over knowingly failing to provide remittance for travel fees it collected from commercial airline passengers flying into or within the United States.

TD Bank sign

News Brief

FINTRAC fines TD Bank record $6.7M over AML program failings


The Financial Transactions and Reports Analysis Centre of Canada fined TD Bank nearly CAD$9.2 million (U.S. $6.7 million) for failing to comply with its anti-money laundering regulations.

Accounting fraud

News Brief

‘Sham audit mill’: SEC fines, permanently suspends BF Borgers


BF Borgers was all but shuttered by the Securities and Exchange Commission after the agency accused the firm of massive fraud impacting more than 1,500 SEC filings audited over a 2 1/2-year span.



EU charts green path forward with ECT withdrawal, new regs


The impending decision by the European Parliament to withdraw from the international Energy Charter Treaty and adopt further climate rules sets a clear direction for green regulations in the region.


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Insight Global to pay $2.7M over lax security on contact tracing data


Atlanta-based staffing agency In­­­­­­sight Global agreed to pay $2.7 million to settle alleged False Claims Act violations for failing to provide adequate cybersecurity on Covid-19 contract tracing data.

CFTC logo

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CFTC appoints first chief AI officer to lead data and AI strategy


The Commodity Futures Trading Commission appointed its first artificial intelligence chief to lead the agency’s efforts to further integrate AI into its operations.

JPMorgan headquarters

News Brief

JPMorgan expects added $100M penalty for trade surveillance shortcomings


JPMorgan Chase said it expects to pay an additional $100 million to an unnamed regulator to settle alleged trade surveillance failures that have already warranted more than $348 million in penalties by two other agencies.


News Brief

PayPal off hook in CFPB probe into Venmo fund transfers


Digital wallet company PayPal disclosed it won’t face enforcement regarding a Consumer Financial Protection Bureau probe into its subsidiary Venmo.

U.S. sanctions


Questions abound on foreign aid bill change to sanctions violations lookbacks


Tucked deep inside the $95 billion foreign aid bill recently passed by Congress was a provision that will allow the Office of Foreign Assets Control to look back 10 years to investigate potential violations of U.S. sanctions, rather than five years.



What’s the problem for GDPR repeat offenders?


The General Data Protection Regulation has been in force for nearly six years. Some industries—and some companies—have been more prone to fall foul of the rules than others.



Preparation key for ‘tectonic change’ from FTC noncompete ban


Companies would be wise to prepare to comply with the Federal Trade Commission’s rule to ban noncompete clauses, despite legal challenges that might delay or prevent it taking effect altogether.

TD Bank

News Brief

TD Bank reserves $450M for BSA/AML enforcements


TD Bank said it set aside $450 million to settle regulatory and law enforcement investigations, including by the Department of Justice, into its anti-money laundering and Bank Secrecy Act programs.


News Brief

​PCAOB removes redactions on 2022 KPMG inspection


The Public Company Accounting Oversight Board published the full results of its 2022 inspection for Big Four firm KPMG after its initial report contained more than two dozen redactions.

Business liability


CCO liability: How to protect your compliance career


Despite significant issues outside the control of most chief compliance officers, some regulators have signaled more individual liability cases are to be expected. Will accepting the wrong job, in hindsight, make it your last?

Royal Bank of Canada

News Brief

RBC unit fined by FINRA over trade confirmation violations


RBC Capital Markets agreed to pay nearly $769,000 to settle allegations levied by the Financial Industry Regulatory Authority, in part, over sending inaccurate information in trade confirmations to customers over nearly a decade.

Health data

News Brief

State AGs tell UnitedHealth to do more in cyberattack aftermath


UnitedHealth Group’s response to a major cyberattack in February that wreaked havoc with medical payments nationwide has been “inadequate” and must be improved immediately, a group of 22 state attorneys general told the company.

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