Articles | Compliance Week – Page 129
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ArticleU.K. issues maritime guidance for reducing sanctions risk
The United Kingdom has become just the second country to issue guidance for companies in the maritime shipping industry alerting them about common illicit and suspicious practices used to evade sanctions.
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ArticleTwitter could face up to $250M FTC fine for misuse of data
Twitter disclosed in a regulatory filing that it could face fines of up to $250 million by the Federal Trade Commission for misusing people’s personal information for advertising purposes.
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ArticleFirms must apply contact tracing rules to bank relationships
In order to prevent debacles like the one Deutsche Bank is embroiled in, there is a need to combine the processes of “know your employee” and “know your customer,” writes Martin Woods.
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ArticleFive tips for EU-U.S. data transfers post-Privacy Shield
As the fallout from the demise of the Privacy Shield continues to play out, here are a handful of steps companies can take to protect themselves from potential GDPR violations when transferring data between the European Union and the United States.
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ArticleBritish Airways banking on drastic reduction of record GDPR fine
British Airways has hinted that it will qualify for a nearly 90 percent reduction of its original GDPR fine (U.S. $230 million) and end up paying just $26 million.
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ArticlePCAOB: Increased audit communication a silver lining of pandemic
The PCAOB’s latest “Conversations with Audit Committee Chairs” update highlights the benefits committee chairs say they have gleaned from increased communications with auditors during the coronavirus pandemic.
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ICA, Mongolian Compliance Association launch bespoke qualification
The International Compliance Association announced a partnership with the Mongolia Compliance Association to offer a bespoke e-learning program to 12 professional associations and their 10,000-plus members in compliance-related roles.
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ArticleConn. investment firm fined $100K for trading, compliance failures
A small Connecticut investment firm has agreed to pay a $100,000 fine to settle charges levied by the Securities and Exchange Commission regarding unfair trade allocation and accompanying compliance failures.
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ArticleSen. Grassley to propose whistleblower-friendly FCA amendments
Sen. Chuck Grassley (R-Iowa) is working on legislation that would amend the False Claims Act in a way he says would strengthen the law’s core purpose of helping whistleblowers shine the light on wrongdoing and fraud.
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ArticleBausch Health to pay $45M for misleading disclosures
The Securities and Exchange Commission charged Bausch Health (formerly Valeant Pharmaceuticals) and three former executives for improper revenue recognition and misleading disclosures in SEC filings and earnings presentations.
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ArticleAdvice for compliance from new DOJ Criminal Division head
Acting Justice Department Criminal Division head Brian Rabbitt shares his perspective on recent updates to the Evaluation of Corporate Compliance Programs guidance, the FCPA Resource Guide, and more.
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ArticlePG&E names new CECO amid leadership shuffle
PG&E Corp. is shaking up its management team, including the impending appointment of John Simon as executive vice president, general counsel and chief ethics & compliance officer.
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Prudential general counsel to retire
Prudential Financial announced Tim Harris, executive vice president and general counsel, has decided to retire. Ann Kappler, senior vice president, deputy general counsel and head of external affairs, will assume the vacant role.
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Hilton Grand Vacations adds chief accounting officer
Timeshare dealer Hilton Grand Vacations announced the appointment of Carlos Hernandez as senior vice president and chief accounting officer.
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ArticleCredit Suisse combines risk and compliance, adds sustainable investing unit
Credit Suisse has combined separate risk and compliance heads into one board-level position, part of a shakeup of the bank’s corporate structure that includes a renewed emphasis on sustainable investing.
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ArticleWhat do FIFA chief, ‘Florida man,’ and Trump have in common? All Failed It this week
The lesson in this week’s edition of “Nailed It or Failed It?” is the more things change, the more they stay the same.
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ArticleWhile compliance is in vogue, let masks be a symbol of safety in all situations
Now is the time to market compliance practices to customers who wear masks within our premises but drop the masks—and their guards—when answering calls and emails from the privacy of their own homes, writes Martin Woods.
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ArticleIBM report: Average data breach cost nearly $4M in past year
An IBM report that examined more than 500 cyber-security breaches occurring between August 2019 and April 2020 found the average breach costs companies $3.86 million and requires nearly 300 days to identify and contain.
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ArticleSFO charges Airbus subsidiary for corrupt acts in Saudi Arabia
The U.K. Serious Fraud Office announced charges against GPT Special Project Management and three individuals concerning a criminal investigation that began eight years ago into allegations of misconduct in Saudi Arabia.
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Harbour Trust names chief compliance officer
Harbour Trust & Investment Management Company has appointed Martha Wargo Oprea to the role of vice president and chief compliance officer.