Panelists at CW’s virtual TPRM and Oversight Summit stressed patience in developing proper risk management and due diligence practices, advising companies to find their “north star.”
2022
Posted inRegulatory Enforcement
SEC accuses J.H. Darbie of violating AML rules
New York-based brokerage firm J.H. Darbie & Co. was charged with violations of anti-money laundering provisions of federal securities laws by the Securities and Exchange Commission for failing to report suspicious activity regarding penny stock transactions.
Posted inEurope
Portugal statistics office fined record $4.6M for GDPR violations
The government office for national statistics in Portugal was assessed a fine of €4.3 million (U.S. $4.6 million) by the country’s data protection authority for multiple violations of the General Data Protection Regulation that occurred during its 2021 census work.
Posted inUncategorized
Dinara names head of compliance, general counsel
Digital asset services startup Dinara announced the appointments of Victor Guerra as head of compliance and Yanire Martes as general counsel.
Posted inSurveys & Benchmarking
CCO/CECO salary data: Five noteworthy trends
Chief compliance officers are earning more than before compared to previous years of our “Inside the Mind of the CCO” survey, though trends like differences in gender pay persist.
Posted inInternal Controls
Bankman-Fried fraud charges detail FTX’s lack of internal controls, risk management protocols
A flurry of criminal and civil fraud charges laid against FTX founder Sam Bankman-Fried have pulled back the veil on the cryptocurrency exchange’s complete lack of internal controls and toothless risk management procedures.
Posted inAccounting & Auditing
ESG oversight highlighted in annual audit committee transparency report
Public companies continue to increase the overall level of audit committee disclosures in proxy statements, though there is room to improve quality by providing more tailored disclosures and transparency, according to the latest annual report.
Posted inEurope
Compliance implications of Danske Bank’s $2B Estonia money laundering settlement
Danske Bank reached final resolutions with U.S. and Danish authorities to settle allegations regarding widespread anti-money laundering deficiencies at its former Estonia branch.
Posted inUncategorized
Equitybee names chief compliance officer
Financial solutions startup Equitybee announced the appointment of Susan Woodard as chief compliance officer. She will also serve as chief executive officer for Equitybee Securities.
Posted inFinancial Services
CFPB proposes repeat offender registry for nonbank consumer law violations
The Consumer Financial Protection Bureau proposed a rule that would require certain nonbank financial firms to register consumer protection orders filed against them by other federal agencies, courts, or states into a new, publicly accessible registry.
