Articles | Compliance Week – Page 200
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FDIC report: Five common consumer compliance issues
The FDIC recently issued the first edition of its “Consumer Compliance Supervisory Highlights” report, intended to enhance transparency around consumer compliance supervisory activities.
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British Airways faces record-setting GDPR fine of $230 million
British Airways was hit Monday with the largest penalty to date under the EU’s GDPR, a £183.39m (U.S. $230 million) fine stemming from the compromised data of nearly 500,000 customers.
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ArticleSEC approves new audit rules on estimates, specialists
The SEC has approved final standards issued by the PCAOB giving auditors new requirements for auditing estimates and relying on the work of specialists.
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Hong Kong’s SFC bans former Goldman Sachs officer for life
Hong Kong’s Securities and Futures Commission has banned Tim Leissner, a former participating managing director at Goldman Sachs (Asia), from re-entering the industry in connection with his crimes relating to 1MDB.
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ArticleSerco fined £19.2M over electronic tagging scandal
The U.K. Serious Fraud Office has approved in principle a deferred prosecution agreement with Serco Geografix for fraud and false accounting that would result in a fine of £19.2 million (U.S. $24.2 million).
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ArticleStudy: Financial firms don’t know what they don’t know on climate risks
Financial institutions still struggle with how to manage risks posed by climate change, according to a new report.
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Intra-Cellular Therapies appoints chief compliance officer
Intra-Cellular Therapies, a biopharmaceutical company, has appointed Karen Sheehy as chief compliance officer.
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Health Insurance Innovations appoints chief compliance officer
Health Insurance Innovations, a cloud-based technology platform and distributor of health insurance and life insurance products, has appointed Domenick DiCicco as its chief compliance officer and counsel.
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ArticleFive ‘essential components’ of a sanctions compliance program
Chief compliance officers got some much-needed guidance on how to build a well-crafted sanctions compliance program thanks to the recent OFAC framework.
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Genstar Capital names chief compliance officer
Genstar Capital, a private equity firm, has appointed Carolyn Greenwalt as chief compliance officer.
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Bristow Group appoints general counsel and corporate secretary
Bristow Group, an industrial aviation service provider, has appointed Victoria Lazar as general counsel and corporate secretary. In this role, she will be responsible for all legal aspects of the business, corporate compliance, and insurance.
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ArticleCECL in summer: Get ready for models, data, auditors
It may be summertime, but the living is not so easy for corporate finance staff preparing for CECL—a major change to the reporting of credit losses.
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Rio Tinto appoints new group general counsel
Rio Tinto has appointed Barbara Levi to succeed Philip Richards as group executive, group general counsel. In this role, she will lead Rio Tinto’s legal and compliance team.
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E2open completes Amber Road acquisition
E2open, a supply chain software solutions provider, announced the completion of its previously disclosed acquisition of Amber Road.
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ArticleCFTC issues joint $2M whistleblower award
The Commodity Futures Trading Commission announced on July 1 an award of $2 million to two “model whistleblowers” who provided the agency with “significant information” that prompted the CFTC to open an investigation.
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ArticleBDO shows improvement in latest PCAOB inspection
The PCAOB says it found fault with 39 percent of the audits inspected at BDO USA in 2017 – the firm’s first time with a deficiency rate below 50 percent since 2011.
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ArticleFASB proposes small changes to CECL standard
FASB has issued a proposed revision to the CECL standard to address a handful of implementation questions as companies prepare for the new accounting.
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ArticleWhy CEOs today must be change leaders for social issues
The Wayfair walkout represents just the latest high-profile example of how social and policy issues continue to spill into the corporate ethics and compliance realm.
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Amid investigation, Nordea names chief compliance officer
Scandinavia’s biggest banking group, Nordea, has appointed Helene Jepson as chief compliance officer and head of group compliance.
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ProcessUnity updates Risk and Compliance platform
ProcessUnity, a provider of cloud-based applications for risk management, launched the latest version of its Risk and Compliance platform.