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A compliance readiness plan for ‘NAFTA 2.0’
The United States, Mexico, and Canada have reached a long-awaited revamped trade agreement, which goes by the moniker “NAFTA 2.0.” The pact portends significant changes to the global trade compliance space.
Banks appeal to Treasury to intervene on CECL
Banks are asking Treasury to intervene on CECL and delay it, worried implementation will threaten financial stability in a future recession.
OFAC takes action against ‘vast network’ of ‘Specially Designated Global Terrorists’
The U.S. Department of Treasury’s Office of Foreign Assets Control on Oct. 16 took action against a vast network of Iranian entities for providing financial support to the Basij Resistance Force, a paramilitary force that recruits, trains, and deploys child soldiers.
BDO survey: Boards strive to keep pace with digital transformation
Digital transformation initiatives are making their way to the top of boardroom agendas, according to findings from a new cyber-governance survey.
Ex-KPMG leader pleads guilty in inspection leak case
A former KPMG leader has pled guilty to four counts of fraud and conspiracy in connection with an operation to subvert the regulatory inspection process.
Mashreq responds to NYDFS consent order
Mashreqbank has issued a statement in response to its consent order reached with the New York State Department of Financial Services on Oct 18 for violations of U.S. Bank Secrecy Act and Anti-Money Laundering laws in the New York branch’s U.S. dollar clearing operations.
OFAC sanctions Iraq-based money services business
The U.S. Department of the Treasury’s Office of Foreign Assets Control imposed sanctions on Afaq Dubai, an Iraq-based money services business that has been moving money for the Islamic State of Iraq and Syria (ISIS).
SEC warns companies to control phishing losses
The SEC has put companies on notice that their internal controls need to consider the risk of cyber-attack, especially e-mail “phishing” scams.
Anti-Slavery Day: complying with human rights law
In honor of Anti-Slavery Day (October 18), companies may want to familiarize themselves with a recent guide from the IEMA on complying with environmental and human rights laws.
Best practices in third-party risk management
NAVEX Global’s fourth annual third-party risk management benchmark report offers risk and compliance officers a glimpse at how their third-party risk management programs stack up against their peers.
SEC, PCAOB discipline ex-auditors at BDO, Deloitte
Two new enforcement actions give audit committees some textbook reminders to keep tabs on auditors regarding their compliance with professional standards.
Criminal Division does an about-face on hiring a compliance counsel
The Department of Justice has scrapped its decision to hire another compliance counsel and instead announced a new, agency-wide approach to compliance oversight.
Bank of England urges firms to prepare for climate change risks
The Bank of England (BoE) wants boards of financial services firms to take a stronger role in identifying and managing financial risks caused by climate change by making individual executives accountable and improving disclosure.