Articles | Compliance Week – Page 145
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ArticleCoronavirus fallout: Four ways to manage fraud risk
The spread of the coronavirus has elevated the visibility of fraud for the general public and exposed to senior management in firms the seriousness of the consequences of underestimating the threat.
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ArticleHow audit committees should prep for coronavirus challenges
Hille Sheppard of Sidley Austin offers some insights into what tactics audit committees should employ to confront uncertainties caused by the coronavirus pandemic.
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ArticleCan a CCO be a DPO? Belgian data authority not so sure
A recent ruling out of Belgium throws water onto the idea that the head of audit, risk, or compliance at a company can also serve as data protection officer as required by the GDPR.
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ArticleJustice Department to recover more than $49M involving 1MDB
The Department of Justice reached a settlement to recover more than $49 million in assets associated with the international money laundering and bribery scheme involving Malaysia’s state development fund 1MDB.
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ArticleAlexion nears $25M settlement with SEC in FCPA probe
Alexion Pharmaceuticals said in a regulatory filing that it is nearing a $25 million settlement with the Securities and Exchange Commission concerning an investigation into the company’s compliance with the Foreign Corrupt Practices Act spanning various countries.
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ArticleHow some companies are hedging supply chain risk during pandemic
As financial hardships caused by the coronavirus pandemic take their toll, some forward-thinking companies have made changes to the benefit of suppliers, serving as leaders for others in their industry.
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ArticleCyber-criminals have supply chains, too
All cyber-attacks leave a trail. These trails can be complex, of course, but the criminals cannot avoid them. Thus, they leave a supply chain of intelligence and data.
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ArticleEY audit of NMC Health under investigation
The U.K. Financial Reporting Council has opened an investigation into EY’s audit of the 2018 financial statements of NMC Health, which is currently under investigation for accounting fraud.
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ArticleVP’s abrupt exit paints Amazon as coronavirus villain
Saying there is “evidence of a vein of toxicity” running through Amazon’s company culture, a now-former VP is the most prominent voice to speak out against the tech behemoth’s actions during the coronavirus pandemic.
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ArticleAt urging of compliance committee, Samsung head apologizes for bad behavior
Jay Lee admitted Samsung “has not strictly complied with laws and ethics” at a press conference organized by the company’s new compliance oversight committee.
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ArticleLesson from Westpac: If you can’t do the simple things correctly, watch out
If a bank or a firm cannot execute on the simple things, such as cash transaction reporting, there is little reason to be confident of compliance in other more complex and challenging areas.
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ArticleThe seven worst compliance fails of the coronavirus pandemic
Compliance and ethics fails during the coronavirus pandemic have done more than hurt companies’ images. They’ve cost lives.
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ArticleEuropean regulators warn coronavirus villains will be punished … eventually
While EU regulators have not engaged in investigations yet or launched many (or any) coronavirus-related enforcement actions, lawyers warn they will do so later down the line and believe they will tackle “worst offenders” first.
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ArticlePwC guidance: Navigating audit committee responsibilities amid the coronavirus pandemic
Internal auditors will want to check out a recent publication from PwC on how to navigate core audit committee responsibilities amid the coronavirus pandemic.
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Elon Musk again tests SEC with 'stock price is too high' tweet
Tesla CEO Elon Musk is at it again on Twitter, this time with a comment he made about the electric car company’s stock price being too high.
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ArticleSenate Republicans to introduce contact tracing privacy bill
Senate Republicans say they will soon introduce a coronavirus-specific data privacy bill that would create regulations under the FTC for companies collecting personal data to fight the ongoing pandemic.
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ArticleWhistleblowers have never been more important … or more targeted
If there’s anything to be learned from recent examples, it’s that whistleblowers do more than anyone to speak truth to power. That’s why it’s so important they are both listened to and properly protected and rewarded.
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NYSDFS names new general counsel
The New York State Department of Financial Services has appointed Richard Weber as general counsel.
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Deutsche Bank, general counsel mutually part
Deutsche Bank announced General Counsel Florian Drinhausen will leave the company on May 31 by mutual agreement. The bank will decide on a successor at the position in the near future.
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Pacific Life adds chief risk officer
Pacific Life announced the appointment of Alessandro Papa as chief risk officer. Papa will serve in an enterprise-wide capacity overseeing the company’s risk management framework and corporate actuarial function.