Articles | Compliance Week – Page 11
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ArticleDOJ official addresses liability concerns stemming from Uber CSO case
Principal Associate Deputy Attorney General Marshall Miller called the conviction of a former Uber Technologies chief security officer on obstruction charges an “outlier” that should not discourage compliance officers from self-reporting violations.
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BMG appoints senior director of global DEI
BMG, a division of global media, services, and education company Bertelsmann, announced the appointment of Pierrot Raschdorff as senior director of global diversity, equity, and inclusion.
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ArticleFifth JPMorgan Chase metals trader convicted of fraud in DOJ spoofing case
A former JPMorgan Chase and Credit Suisse precious metals trader was convicted of fraud, wrapping up a long-running Department of Justice investigation into the manipulation of the precious metals markets from 2008-16.
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ArticleSantander UK fined $132M for poor AML controls
The U.K. arm of Santander was fined approximately £107.8 million (U.S. $132 million) by the Financial Conduct Authority for “serious and persistent” gaps in its anti-money laundering controls.
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ArticleSEC, OCC flag heightened risks from crypto bankruptcies
The Securities and Exchange Commission and Office of the Comptroller of the Currency reminded public companies and financial institutions, respectively, of their responsibilities to properly manage risks related to the crypto asset market.
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Terex adds sustainability to chief compliance officer’s title
Global manufacturer Terex Corp. announced Stacey Babson Kaplan has been promoted to senior vice president, chief sustainability and compliance officer.
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ArticleSurvey: Measuring the impact of code of conduct training
Respondents to a survey from Compliance Week and online compliance training provider Traliant largely described their organization’s code of conduct training as effective, but the opportunity for customized, dynamic courses can take learning to the next level.
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ArticleRabobank probed by Dutch prosecutors over potential AML violations
Rabobank, the second largest bank in the Netherlands, is being investigated by the Dutch Public Prosecution Service for potential violations of the country’s anti-money laundering/countering the financing of terrorism law.
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Two Point Capital, CEO dinged $100K for compliance procedure lapses
Two Point Capital Management and its CEO John McGowan were fined a total of $100,000 by the Securities and Exchange Commission for failing to adopt and implement policies and procedures tailored to guide the firm’s compliance with federal securities law.
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ArticleChallenges for SPACs: Public company, now what?
Special purpose acquisition company transactions have unique risks and require awareness of what it takes to operate as a public business. Internal controls, governance, technology, and more are essential.
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ArticleLoaded SEC agenda to carry into 2023
The Securities and Exchange Commission is expected to see through its controversial policy proposals from 2022, though the newly Republican-led House could slow the agency’s momentum.
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Ex-Weber Shandwick CFO imprisoned 4-plus years for embezzlement
The former chief financial officer and chief operating officer of public relations firm Weber Shandwick was sentenced to more than four years in prison and ordered to pay more than $26 million for a nearly decade-long embezzling scheme.
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VEON adds group diversity and inclusion officer
Dutch telecommunication services company VEON announced Ana de Kok-Reyes will serve in the newly established role of group diversity and inclusion officer.
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Neptune Flood appoints chief risk officer
Neptune Flood Insurance announced the appointment of Matthew Duffy as chief risk officer.
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NextPlat names chief compliance officer
Global e-commerce provider NextPlat Corp. announced the hiring of Robert Bedwell as chief compliance officer.
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First Foundation promotes chief risk officer to banking head
Financial services company First Foundation announced Hugo Nuño will serve in the newly created role of executive vice president, chief banking officer.
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ArticleThree KPMG firms disciplined in $7.7M enforcement sweep
The Public Company Accounting Oversight Board announced $7.7 million in total penalties against three separate KPMG firms and four individuals for varying violations of audit standards and ethical rules, including alleged exam cheating.
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ArticleFive compliance triumphs from 2022
Positive contributions in the areas of ESG, AI responsibility, and setting standards regarding CCO liability highlight the latest installment of CW’s annual list of laudable ethics and compliance moments.
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ArticleU.S. law to stop Uyghur forced labor remains compliance challenge
It’s been six months since the Uyghur Forced Labor Prevention Act took effect, and businesses are no clearer today on how to comply with it, those familiar with the law said.
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ArticleGlencore to pay $180M in DRC corruption case
Commodity trading and mining company Glencore agreed to pay $180 million to the government of the Democratic Republic of the Congo to settle claims arising from alleged corrupt practices that took place for more than a decade.