Articles | Compliance Week – Page 153
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ArticleConfusion around GDPR during coronavirus prompts EDPB response
The European Data Protection Board has released a statement attempting to clarify how personal data can be processed by companies during the ongoing coronavirus pandemic.
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ArticleTRACE: Bribery enforcement down in 2019
Risks in the extractives and aerospace industries are still prevalent, but the number of overall global and U.S. enforcement cases involving bribery dropped in 2019, according to the latest report from TRACE International.
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ArticleU.K. AML report: Data analysis of risks lacking
Implementation of risk-based processes and the data analysis that sits behind them are among the biggest weaknesses laid out in a review of AML efforts in the accounting and legal sectors conducted by the U.K.’s financial watchdog.
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Swedish regulator fines Swedbank record $390M for AML deficiencies
Swedbank AB has been issued a record 4 billion Swedish Krona (U.S. $390 million) administrative fine for what Sweden’s financial watchdog called “serious deficiencies in its management of the risk of money laundering in its Baltic operations.”
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ArticleCoronavirus disrupts hearings in England, Wales, Scotland
The Presidents of the Employment Tribunals in England and Wales and Scotland announced starting next week all in-person hearings will be converted to a case management hearing by telephone or other electronic means.
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ArticleSome good news: Ethical standouts during coronavirus crisis
Strong ethical voices are needed now more than ever, and fortunately many companies and individuals have stepped up to answer the call. We’ve rounded up dozens in an effort to shine a light on good being done.
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ArticleTee International revamps internal controls amid investigation
Tee International disclosed enhancements to its compliance, risk management, and internal controls amid an ongoing investigation by authorities in Singapore into its former group chief executive for allegedly stealing company funds.
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ArticleAsk Amii mailbag: How to push for greater say at your company
The latest edition of the Ask Amii mailbag provides guidance on getting compliance more involved in conversations with key decision makers. Amii also gives her thoughts on when the time is right to change careers.
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SEC filer definition changes aim to promote going public
The SEC’s revisions to definitions of accelerated and large accelerated filers should provide relief to smaller issuers and reduce costs for certain public companies.
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ArticleStudy: Fear of data breaches stifling bank innovation
Research by consultancy firm Accenture shows companies in financial services are more concerned with guarding themselves against the impact of a data breach than realizing any financial benefits of using the data.
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ArticleNew FASB guidance eases transition from LIBOR
FASB has issued a temporary standards update intended to reduce the costs and complexities surrounding reference rate reform.
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ArticleBusiness lessons from past pandemics: Be ready for a second wave
Past pandemics—and there have been four in the last 100-plus years—offer critical lessons for businesses striving to make socially responsible decisions today while also remaining operational in the future.
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ArticleElon Musk’s response disappointing amid coronavirus chaos
Tesla CEO Elon Musk believes coronavirus panic is more harmful than the virus itself, but he’s done little to provide help in any form despite having the platform to do so.
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ArticleAnalysis: Cyber-attacks spike in Italy linked to coronavirus
Italy, a region in quarantine, is experiencing a spike in attempted cyber-attacks to capture the login credentials of employees working remotely. But not all the attacks have been successful, and that’s where the lessons lie.
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Everest Re names new chief risk officer
Everest Re, a global provider of reinsurance and insurance, has announced the promotion of Don Mango to chief risk officer and chief actuary, effective on March 30.
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AIG chief accounting officer to leave
American International Group said in a regulatory filing that Jonathan Wismer, its deputy chief financial officer and chief accounting officer, will be leaving the insurance company on March 31 “to pursue other opportunities.”
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ArticleFor some companies in the age of coronavirus, ethics pays
Despite slow governmental response to the coronavirus outbreak that is grinding the world economy to a halt, several businesses have decided it is worth going above and beyond to help customers and employees.
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Article5 tips to immunize yourself against coronavirus-emboldened hackers
In this time of fear and uncertainty, it’s more critical than ever to practice good cyber-security hygiene (just think of it as the technical version of proper handwashing).
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Swedbank announces new risk chief as probe nears end
Swedbank announced the appointment of Rolf Marquardt as chief risk officer just over a week prior to the expected announcement of the findings of a probe into its AML shortcomings conducted by law firm Clifford Chance.
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Exelon appoints compliance and audit EVP
Electric power company Exelon announced it has named David Glockner as its new executive vice president of compliance and audit.