Articles | Compliance Week – Page 47
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ArticleStericycle to pay $84M to resolve FCPA violations
Medical waste disposal company Stericycle has agreed to pay $84 million in civil and criminal penalties to resolve allegations it paid bribes to win government contracts in Brazil, Mexico, and Argentina.
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ArticleAnatomy of an international, $194M ‘pump-and-dump’
The Securities and Exchange Commission and Department of Justice separately announced charges against individuals who reaped more than $194 million in illicit proceeds through an international stock manipulation scheme.
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ArticleSEC issues ‘highest penalty to date’ in data analytics case
The Securities and Exchange Commission credited its risk-based data analytics initiative for resulting in its “highest penalty to date” against a publicly traded company that engaged in improper accounting to boost its quarterly earnings per share.
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ArticleIESBA broadens definition of public interest entity
New guidance released by the International Ethics Standards Board for Accountants broadens the definition of a public interest entity and complements other recently revised provisions to the International Code of Ethics for Professional Accountants.
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Bancorp Bank names chief compliance officer
Bancorp Bank announced the appointment of Randall Baugh as managing director, chief compliance officer.
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ArticleSurvey: Lease accounting implementation at critical point
The “2022 Global Lease Accounting Survey” from EY and LeaseAccelerator covers how public and private companies address U.S. and international accounting requirements and challenges they have had and expect to face post-implementation.
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ArticleNAVEX: Whistleblowers ‘more emboldened than ever’
NAVEX’s 2022 “Hotline & Incident Management Benchmark Report” provides chief compliance officers with valuable insight into how their hotline and incident management program stacks up against their peers.
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ArticleBreaking the glass ceiling in ethics and compliance
Jane Levine, chief compliance officer at DailyPay, shares three suggestions for ensuring women are empowered within the ethics and compliance profession.
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ArticleFinCEN advisory highlights Russian kleptocracy concerns
The Financial Crimes Enforcement Network issued an advisory offering red flag indicators of kleptocracy and foreign corruption, noting Russia as a country of “particular concern.”
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ArticleYellen calls China to the carpet on Russia-Ukraine war
U.S. Treasury Secretary Janet Yellen warned countries that are unified in their sanctions against Russia “will not be indifferent to actions that undermine the sanctions we’ve put in place.”
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Joseph Gunnar & Co. names chief compliance officer
Joseph Gunnar & Co., a broker-dealer, investment adviser, and investment bank, announced the appointment of James Mazzei as chief compliance officer.
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LifePoint Health promotes deputy CCO to chief compliance officer
LifePoint Health announced Deputy Chief Compliance Officer Tizgel High has been promoted to chief compliance officer.
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ArticleBiden to nominate Michael Barr as Fed supervision head
President Joe Biden announced his intent to nominate Michael Barr, a key architect of the Dodd-Frank Act and former Treasury Department assistant secretary, to serve as the Federal Reserve’s vice chair for supervision.
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ArticleDOJ eyeing PetroNor board chairman in corruption probe
The Department of Justice has become involved in a corruption investigation focused on individuals at Oslo-listed oil and gas exploration and production company PetroNor that has grown to include Board Chairman Eyas Alhomouz, a U.S. citizen.
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ArticleEU industries put to test as Russian invasion of Ukraine persists
Less than two months since Russia invaded Ukraine, a range of industries across Europe have issued stark warnings about supply chain shortages, production shutdowns, and price hikes. The worst may still be yet to come, particularly in Germany.
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ArticleFTC chair: Agency reassessing rules amid current U.S. privacy landscape
The Federal Trade Commission is considering new rulemaking around commercial surveillance and lax data security practices while assessing whether other laws in place need to be updated, agency Chair Lina Khan said in a recent speech.
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ArticleCFPB sues ‘repeat offender’ TransUnion over consent order violations
The Consumer Financial Protection Bureau filed a lawsuit in federal court charging TransUnion, two of its subsidiaries, and one of its longtime executives with violating a 2017 consent order and other consumer financial protection laws.
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ArticleICA Insight: Russia sanctions frequently asked questions
Jake Plenderleith of the International Compliance Association answers selected questions from attendees of a recent ICA webinar on Russian sanctions intended to help provide clarity on what firms can do to protect themselves from exposure.
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ArticleFormer tech exec to pay $97K for impeding SEC whistleblower
David Hansen, co-founder of Las Vegas-based software company NS8, agreed to pay $97,523 to settle charges from the Securities and Exchange Commission that he impeded a whistleblower’s attempt to communicate with the agency about a securities law violation.
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ArticlePG&E avoids criminal charges in $55M settlement over 2 wildfires
Pacific Gas & Electric avoided criminal charges in agreeing to pay more than $55 million in civil contributions and penalties as part of a settlement in California regarding the utility company’s alleged role in the 2019 Kincade Fire and 2021 Dixie Fire.