Articles | Compliance Week – Page 196
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Article3M discloses FCPA probe
3M said it is conducting an internal investigation into potential violations of the Foreign Corrupt Practices Act concerning suspicious travel activities and related recordkeeping issues with regard to marketing efforts in China.
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Capital One announces massive data breach
Capital One Financial announced a hacker obtained the personal information of approximately 100 million individuals in the United States and approximately six million individuals in Canada.
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CFPB pitches mortgage rule change
The Consumer Financial Protection Bureau has issued a notice seeking information on the expiration of temporary qualified mortgage provisions.
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ArticleBlockchain: The new frontier for supply chain risk management
A new pilot project currently being explored by the U.S. Food and Drug Administration has enlisted IBM, KPMG, Merck, and Walmart to help determine how to incorporate blockchain into pharmaceutical supply chains.
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ArticleSEC comments drove changes in revenue reporting, analysis says
SEC comments on early reports under the new revenue recognition standard tended to sway companies to revise their reporting, analysis shows.
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ArticleEU assessment: GDPR showing results, but ‘work needs to continue’
The EU’s tough new data rules are “bearing fruit,” but some member states have still not put GDPR into law, and only 20 percent of EU citizens seem aware of which public authority is responsible for protecting their personal information.
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SEC: Transition from LIBOR has taken on ‘urgency’
Regulators are starting to freak out a little over what will happen in U.S. financial markets in 2021 when a major benchmark interest rate is expected to vanish.
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ArticleAG Barr rides Facebook woes to tout antitrust review of Big Tech
As tech companies grow to dominance, do they pose a competitive hardship to rivals left in their wake? The Justice Department wants to know.
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ArticleOverseas whistleblowers continue to fuel SEC program
Foreign national whistleblowers play a strong role in the SEC’s whistleblower program, highlighted by the most recent award of $500,000 to an overseas informant. This latest payout appears to mark at least the 13th time the SEC has awarded an overseas whistleblower.
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Celsius Network names new chief compliance officer
Celsius Network, a London-based cryptocurrency platform, has appointed Jeremie Beaudry as chief compliance officer.
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Grant Thornton, Ephesoft announce alliance
Grant Thornton has formed an alliance with enterprise content capture and data discovery solutions provider Ephesoft.
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Kroll expands to Australia with Enex Carbon addition
Kroll, a division of global advisor Duff & Phelps, announced the expansion of its cyber risk solution offerings with the addition of Australia-based cyber-security firm Enex Carbon.
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ArticleFacebook settlement was barely worth waiting for
The compliance aspects of what will be expected of Facebook going forward were fair enough, but a lack of personal liability has us questioning the settlement.
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The Facebook Effect: ‘Price of privacy violations just went up’
The FTC hit Facebook with a ground-breaking $5 billion penalty for privacy violations, but the bigger takeaway for CCOs is the unprecedented new privacy and corporate governance obligations the company must implement.
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Facebook to pay $100M for misleading disclosures
In addition to its record-breaking FTC fine, Facebook on Wednesday reached a $100 million settlement with the SEC for making misleading disclosures regarding the risk of misuse of its user data.
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ArticleICFR findings rose in 2018, pending report to say
Adverse auditor attestations on the state of internal controls at public companies made a bit of a comeback in 2018 after a brief retreat, according to a coming report from Audit Analytics.
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InvestEdge updates compliance monitoring system
InvestEdge, a provider of financial advisory solutions, announced the release of Compliance Middle Office Management as a new addition to its compliance monitoring system.
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ArticleDOJ launches antitrust probe into Big Tech
The U.S. Department of Justice has opened an antitrust probe into Big Tech firms that are ”engaging in practices that have reduced competition, stifled innovation, or otherwise harmed consumers.”
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ArticleSEC, DOJ charge 3 former Power Solutions executives with fraud
Three former executives of a smaller reporting company are facing multiple fraud charges connected to a $25 million overstatement of revenue.
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Appeals Court upholds bribery conviction of Alstom Network
The Criminal Division of the U.K. Court of Appeal has upheld the April 2018 conviction of Alstom Network UK over a bribery case concerning an infrastructure contract in Tunisia.