Articles | Compliance Week – Page 135
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ArticleMarket forces, not regs, leading the charge for data privacy
Data privacy is about to become a more tangible concept to Americans not due to regulation like the CCPA, but because the most influential brand in the nation is making it a pillar of how it does business.
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ArticleLabor Dept. revives fiduciary rule with new proposal
The U.S. Department of Labor announced the proposal of a new exemption for investment advice fiduciaries designed to replace retirement-focused fiduciary rules made invalid two years ago.
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ArticleIn time of crisis, Wirecard has turned to its would-be CCO to lead
Reeling from a $2 billion accounting scandal, Wirecard has turned to its would-be chief compliance officer as its interim CEO. It’s the first smart move the company has made in a while, writes Martin Woods.
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Supreme Court: CFPB single-director structure unconstitutional
The U.S. Supreme Court ruled the CFPB’s single-director structure violates the separation of powers between the executive and legislative branches and is unconstitutional.
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ArticleIreland’s GDPR report shows it’s yet to hold Big Tech accountable
The Irish Data Protection Commission review of its GDPR investigations has come under fire for ignoring Big Tech and lacking information pertinent to inquiries into firms like Apple, Facebook, Google, and more.
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ArticleTelegram to pay back investors $1.2B for failed ICO
Telegram Group will return more than $1.2 billion in ill-gotten gains to investors and pay an $18.5 million civil penalty to resolve SEC charges that its unregistered offering of digital tokens violated federal securities laws.
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ArticleWhat are expectations of compliance at a negligent company like PG&E?
Financial crime expert Martin Woods wonders about the compliance priorities of a company found to be as reckless as Pacific Gas and Electric.
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ArticleMexico’s war on corruption an uphill battle for compliance officers
Companies doing business in Mexico face an uphill battle with their anti-corruption compliance efforts as the country’s government struggles to control—and, in many cases, contributes to—its endemic corruption problem.
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ArticleBill proposes national cyber-security czar
A bill with bipartisan Congressional support proposes to create a national cyber-security czar who would report directly to the president.
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SEC risk alert provides compliance roadmap for investment advisors
A risk alert issued recently by the SEC examines disclosure deficiencies by investment advisors managing private funds.
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ArticleFollowing $107M fine for lax controls, SEB shares AML efforts
Sweden’s financial watchdog was fined SEB $107 million for weak governance practices related to the bank’s anti-money laundering controls in its Baltics subsidiaries.
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Regs rollback Volcker rule restrictions on bank investments
Despite pushback from some regulators and Democrats in Congress, the newest Volcker rule update will allow banks—in certain circumstances—to invest or sponsor hedge funds and private equity funds.
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ArticleNovartis to pay $347M to resolve FCPA investigations
Novartis will pay nearly $347 million in combined criminal and civil penalty settlements with U.S. authorities to resolve all FCPA investigations into historical conduct by the company and its subsidiaries.
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ArticleMy Compliance Library: ‘Gloom to Boom’ a guide for turning risk into opportunity
CW contributor Richard Bistrong shares his thoughts on Dr. Andrea Bonime-Blanc’s book within the context of the DOJ’s most recent compliance guidance and the turbulent times in which we are currently living.
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ArticleExperts: CCPA enforcement will prioritize children’s privacy, digital marketing
What will enforcement of the California Consumer Privacy Act look like at first? Experts offer their take, in addition to providing guidance for companies still not in compliance with the landmark legislation.
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ArticlePandemic has taught us online training/education needs work
The challenge of educators and trainers is to demonstrate how online learning has the ability to be “more than” it has been before. To accomplish this goal, “let’s Zoom” cannot be the only call to action.
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ArticleVEREIT to pay $8M to settle SEC fraud charges
VEREIT, a publicly traded real estate investment trust, will pay an $8 million penalty to resolve SEC fraud charges over intentionally overstating a key non-GAAP performance metric.
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ArticleFRC to probe EY, PwC audits of London Capital & Finance
The U.K. Financial Reporting Council has commenced three investigations into the audits of collapsed investment firm London Capital & Finance, including audits carried out by Big Four firms EY and PwC.
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ArticleEC report: More harmonization needed in GDPR efforts
The European Commission believes the General Data Protection Regulation is an “overall success” but points to harmonization among member states as an area for improvement.
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ArticleLessons from Wirecard: Ignore unchallenged allegations at your peril
When a company does not rebut serious allegations of wrongdoing with litigation, the only response is to demand answers from the firm or take your business elsewhere, writes financial crime expert Martin Woods.