Articles | Compliance Week – Page 161
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ArticlePCAOB, CFPB big losers in Trump’s proposed budget
President Trump’s proposed budget for fiscal year 2021 effectively calls for an end to the PCAOB beginning in 2022, while the CFPB would be subject to major funding cuts as soon as next year.
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ArticleHui Chen returns to government role as adviser to Hawaii AG
Compliance pioneer Hui Chen is back in government, albeit at the state level. She announced on Twitter she has been named chief integrity officer for the Hawaii Attorney General’s office.
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ArticleSurvey: Lack of adequate funding for compliance training pervasive
If you’re among the practitioners who need more resources to turn your compliance training program into one that is truly effective (and that’s many of you, according to our survey), we have some advice.
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ArticleBig banks start to report CECL impacts
Fourth-quarter earnings calls of large U.S. public financial institutions provide insights into FASB’s current expected credit loss (CECL) standard.
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ArticleEquifax indictment and the making of a Chinese cyber-attack
The DOJ announced four members of the Chinese military have been indicted on charges of hacking into the computer systems of Equifax, ultimately resulting in the largest-ever breach of consumer data. From an ERM standpoint, the indictment offers an inside look at the making of a Chinese cyber-attack.
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ArticleExperts weigh in on Brexit consequences for GDPR, AML, more
The wheels to the United Kingdom’s exit from the European Union are finally in motion, but the hard work still remains as to what kind of future trading relationship the country has with the single market.
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ArticleSpecial report: Compliance training
If you’re worried about whether your curriculum is truly effective, start with 10 tips from CW columnist Amii Barnard-Bahn on how to take compliance training to the next level.
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ArticleTreasury lists ‘compliance weaknesses’ as U.S. finance vulnerability
A new report published by the Department of the Treasury cites compliance weaknesses among the most significant illicit finance threats and vulnerabilities facing the U.S. financial system.
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ArticleNIST seeks comment on ransomware, cyber-attack guidance
The National Institute of Standards and Technology is seeking input on a trio of draft guidance published in the past week. Two of the drafts address ransomware attacks, and the third addresses protecting against cyber-attacks in the supply chain.
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ArticleCFPB hands out $1 penalties in proposed settlement
The Consumer Financial Protection Bureau seeks to impose seven civil money penalties at $1 each as part of a proposed settlement with former payday lender Think Finance.
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ArticleReport: DOJ zeroes in on Google’s ad brokerage business
The DOJ’s scrutiny of Google’s online ad business reflects growing concerns over the tech giant’s potentially anticompetitive behavior, prompts the reclusion of an antitrust enforcement official from the probe, and points to closer coordination between federal and state authorities.
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Ireland probing Google, Tinder for GDPR violations
Ireland’s data regulator has announced new investigations into Google and MTCH Technology Services—the company behind dating app Tinder—over complaints users’ personal data is being misused in violation of the GDPR.
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ArticleFTC, FDA to enhance antitrust oversight in biologics market
The Federal Trade Commission and Food and Drug Administration have signaled they will be increasing their oversight of any potential antitrust behavior in the biologics market.
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ArticleCCPA cited in Hanna Andersson/Salesforce breach lawsuit
A lawsuit filed against online retailer Hanna Andersson and its e-commerce platform Salesforce is among the first to cite the fledgling California Consumer Privacy Act in its judgment sought.
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ArticleMastercard CEO lists Libra red flags as reason for exit
Mastercard CEO Ajay Banga cites concerns with compliance, data management, and making money within regulatory constraints among the reasons his company left the Facebook-led Libra Association late last year.
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ArticleProposed Volcker rule rollback gets pushback from agency leadership
Five federal agencies agreed that now would be a good time to ease restrictions on bank investments in hedge funds or private equity funds, triggering concern by some that the deregulation could be harmful. But is apprehension over the proposed Volcker rule relaxation overblown?
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ArticlePractice Fusion to overhaul compliance after $145M kickback resolution
Practice Fusion will pay a total of $145 million to resolve criminal and civil investigations for its leading role in an opioid kickback scheme. Particularly notable are the new compliance obligations imposed upon it, which are as weighty and significant as the fine itself.
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Article10 things you need to know about CCPA compliance
As the CCPA enforcement deadline arrives, here are some boxes you’ll need to make sure your company has checked.
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ArticleStudy: Compliance officers in finance face ‘unnecessary risks’
Compliance officers in the financial services industry face “unnecessary risks” that undermine effectiveness and regulatory goals, according to a new report by the Compliance Committee of the New York City Bar Association.
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ArticleConfronting ‘willful intent’ in third-party corruption cases
Even as companies continue to agree to multi-billion-dollar settlements related to the corrupt acts of third parties, managing the risks associated with them nevertheless eludes many compliance departments.