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Crypto coins

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U.S. Appeals Court ruling in Tornado Cash case opens door for AML regulatory unwind

2024-12-02T22:55:00+00:00By

In striking down penalties against cryptocurrency mixer Tornado Cash for violating U.S. sanctions, a federal appeals court may have started to chip away at anti-money laundering regulations established by Democrats even before President-elect Donald Trump takes office.

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Could your firm potentially be the subject of a DOJ whistleblower action? Time to get ready

2024-11-27T18:22:00+00:00By

Now that the U.S. Department of Justice launched a new pilot whistleblower program, many questions remain. What types of companies might find themselves to be the subject of a criminal investigation stemming from a whistleblower tip? And what should they do to prepare for a whistleblower tip?

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Top E&C failures: Boeing, TD Bank, RTX/Raytheon biggest compliance turkeys of 2024

2024-11-27T15:09:00+00:00By

The biggest Compliance Fails of 2024 show the real-world consequences of noncompliance for the companies that faltered, but also for their customers and their employees.

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More from Compliance Week

Google HQ

News Brief

DOJ recommends Google sell Chrome browser to break up monopoly

2024-11-21T20:19:00+00:00By

Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.

Gensler_Web

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SEC Chair Gary Gensler to step down Jan. 20 after busy, controversial tenure

2024-11-21T20:09:00+00:00By

Securities and Exchange Commission Chair Gary Gensler will step down from his position as the top U.S. regulator of Wall Street when Donald Trump is sworn in as president on Jan. 20, ending weeks of speculation about his future.

Apple_pay_web

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Final CFPB rule requires Big Tech pay apps to comply with bank rules

2024-11-21T18:30:00+00:00By

Big Tech digital payment apps will be subjected to increased oversight and requirements–similar to that of banks and credit unions–under a finalized rule by the Consumer Financial Protection Bureau.

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Good AI governance starts with proactive, continuous risk assessments

2024-11-21T16:25:00+00:00By

Data governance has become a key concern for companies, especially when the EU AI Act and General Data Protection Regulation have put a premium on handling data responsibly and ensuring that artificial intelligence does not cause harm.

Federal Reserve

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Federal Reserve Bank of Richmond examiner pleads guilty to insider trading

2024-11-20T18:15:00+00:00By

A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.

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President-elect Trump’s Commerce Department pick Howard Lutnick to head tariff, trade agenda

2024-11-20T16:51:00+00:00By

President-elect Donald Trump announced he plans to appoint Cantor Fitzgerald President and CEO Howard Lutnick to lead the U.S. Commerce Department, as the incoming administration is expected to charge import tariffs against friends and foes.

FINRA New York

News Brief

Drexel Hamilton to pay $1.1M, four employees fined for ‘flipping’ municipal bonds

2024-11-19T21:05:00+00:00

New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.

gambling

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BIT Mining changes business model, pays $10M fine to resolve FCPA violations

2024-11-19T19:26:00+00:00By

A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.

red_flags_web

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Experts explain why red flags can often be ignored due to ‘underlying systematic issues’

2024-11-19T17:28:00+00:00By

Companies spend huge sums on audit, risk management, and compliance to alert them about potential legal issues before they escalate into serious corporate governance failings. There’s only one problem, however–they often misread their own early warning signs or ignore them altogether.

iran_sanctions_web

News Brief

MetLife subsidiary fined $178K by OFAC for issuing premiums to Iran-controlled entities

2024-11-18T20:43:00+00:00By

A subsidiary of MetLife will pay more than $178,000 for violating U.S. sanctions on Iran when it provided insurance policies to entities in the United Arab Emirates owned or controlled by Iran.

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