All articles by Aaron Nicodemus – Page 38
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ArticleBanco Popular to pay $255K for violating Venezuela sanctions
Banco Popular de Puerto Rico has agreed to pay more than $255,000 as part of a settlement with the Office of Foreign Assets Control to resolve its civil liability for 337 transactions processed in violation of U.S. sanctions.
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ArticleSEC rule proposal would order investment firms to back up ESG claims
The Securities and Exchange Commission proposed a new rule that would require registered investment advisers, investment companies, and business development companies to submit enhanced disclosures about funds that claim ESG strategies drive their investment choices.
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ArticleGlencore fined $1B, placed under 3-year monitorship for FCPA violations
Glencore International AG, one of the world’s largest commodity traders, will be placed under a three-year compliance monitorship and pay more than $1 billion to resolve multiple investigations into alleged bribes paid in several countries over more than a decade.
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SEC names Best permanent exams division director
The Securities and Exchange Commission named Richard Best permanent director of the agency’s Division of Examinations, removing “acting” from the job title he has held since March.
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ArticleBNY Mellon fined $1.5M by SEC for misstatements on ESG mutual funds
BNY Mellon Investment Adviser has agreed to pay a $1.5 million fine to the Securities and Exchange Commission for making “misstatements and omissions” on environmental, social, and governance mutual funds it managed over three years.
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ArticleWells Fargo unit fined $7M for AML transaction monitoring failures
For the second time in five years, a subsidiary of Wells Fargo has been charged by the Securities and Exchange Commission with failing to file suspicious activity reports in a timely manner due to deficiencies in the system it used to flag transactions.
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ArticleSEC commissioners address CCO liability, crypto regulation, more at CW2022
Two SEC commissioners from opposite sides of the political aisle took slightly different positions on how to assess the liability of poor performing chief compliance officers as part of the Day 2 opening keynote at Compliance Week’s National Conference.
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ArticleCompliance execs get candid on industry challenges at CW think tank
Fifteen high-level compliance executives discussed the challenges and opportunities presented by an ever-changing compliance landscape during a first-ever executive think tank session at Compliance Week’s 2022 National Conference in Washington, D.C.
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Article‘Trusted partner’ Kelly Maxwell of Dana-Farber named CCO of the Year
Kelly Maxwell can’t cure cancer, but she and her team do their part to help the rest of the Dana-Farber Cancer Institute achieve that mission. For her work, Maxwell was named CCO of the Year at the 2022 Excellence in Compliance Awards.
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ArticleConnecticut fifth state to pass comprehensive data privacy law
Connecticut has joined four other states in passing a comprehensive data privacy law that requires companies to provide consumers with information about the personal data they collect.
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ArticleFedEx’s social mission: Diversity drives better business
FedEx’s DEI strides—including becoming a minority-majority employee company in the U.S. for the first time in its history in fiscal year 2018—are not by accident. The company’s long history of hiring a diverse workforce and promoting from within is among the keys to its success.
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FTC Democratic majority restored following Bedoya confirmation
Georgetown visiting law professor Alvaro Bedoya has been confirmed as a member of the Federal Trade Commission, following a Senate vote along party lines.
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ArticleGrowth vs. green: FedEx’s environmental balancing act
When FedEx published its first Global Citizenship Report in 2008, its greenhouse gas emissions were already top of mind. Yet, the company has struggled to strike a balance between achieving year-over-year decreases in total emissions while it has expanded in the last decade-plus.
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ArticleReport: Investigation costs rising, driven by data assessment inefficiencies
More than three-quarters of respondents to a Kroll global benchmark report said they have conducted an internal investigation into fraud or corruption within the past three years and that the cost of such probes is on the rise.
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Article‘A marathon, not a sprint’: FedEx carbon-neutral pledge tests longtime ESG efforts
In March 2021, FedEx announced an audacious goal: to achieve carbon-neutral operations globally by 2040. How did the company develop this pledge, and how will it track its progress and hold itself accountable to intermediate goals?
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ArticleCFTC proposal furthers transition from LIBOR in swaps
The Commodity Futures Trading Commission proposed a rule that would replace certain swap rate clearing requirements pegged to the London Interbank Offered Rate with other alternative reference rates that are less susceptible to manipulation.
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ArticleDesire for transparency launches FedEx on ESG journey
Since 2008, FedEx has produced detailed reports on its ESG initiatives. The company’s chief sustainability officer discusses the decision-making process behind the first report, determining materiality, and more in Part 1 of this four-part special report, published in partnership with the ICA.
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ArticleSEC extends comment period on climate-related disclosure rule
The Securities and Exchange Commission has extended the comment period for its controversial climate-related disclosure rule to allow interested parties more time to consider the issues and share feedback.
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ArticleNew sanctions add ban on U.S. accounting, management consulting work in Russia
The Treasury Department unveiled a host of new sanctions against Russian and Belarusian individuals and banks, in addition to a ban on U.S.-based accounting, management consulting, and trust and corporate formation services to any person located in the Russian Federation.
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New DOJ office to lead environmental justice efforts
The Department of Justice announced the creation of the Office of Environmental Justice to serve as a “central hub” for a federal environmental enforcement strategy that will pursue cases regarding environmental crime, pollution, and climate change.