Articles | Compliance Week – Page 49
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ArticleAttorney general turns up heat on SFO with probe into Unaoil lapses
The U.K. attorney general is carrying out a review into why—and how—the Serious Fraud Office managed to botch a bribery investigation into Unaoil that saw one of the oil and gas consultancy’s former executives have his conviction overturned.
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ArticleSEC proposal seeks to undo Trump-era whistleblower changes
The Securities and Exchange Commission will seek to undo several changes to the agency’s whistleblower program enacted during the Trump administration to potentially limit large awards.
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ArticleFINRA 2022 exam report highlights Reg BI compliance, AML trends, more
The Financial Industry Regulatory Authority’s annual report on examinations and risk monitoring contains insights on issues the organization uncovered regarding broker-dealers’ compliance with Regulation Best Interest during the rule’s first full year in existence.
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ArticleMaking the transition to net zero in the United Kingdom
As the United Kingdom aims to become “the world’s first net zero-aligned financial center,” financial institutions are being required to have “a robust firm-level transition plan setting out how they will decarbonize.” Where should they start?
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ArticleThree lingering questions to arise from KPMG tribunal over Carillion, Regenersis
Details to emerge from the disciplinary tribunal regarding KPMG’s conduct during its work at Carillion and Regenersis could have ramifications for the Big Four firm, the audit profession more widely, and potential future regulation and monitoring.
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ArticleSEC proposes enhanced disclosures for private equity and hedge funds
The Securities and Exchange Commission voted to propose a rule that would require hedge funds and private equity funds to provide detailed information on fees, expenses, and performance on a quarterly basis.
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BlackRock names new chief risk officer
Asset management firm BlackRock announced Ed Fishwick will succeed co-founder Ben Golub as chief risk officer at the end of the month.
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ArticleBanks, small firms wary of compliance costs of FinCEN beneficial ownership rule
Comment letters submitted to the Financial Crimes Enforcement Network regarding its proposed beneficial ownership registry rule express concerns related to compliance costs, implementation timelines, and more.
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Justly Markets appoints chief compliance officer
Justly Markets, a broker-dealer focused on granting access to ESG-based investments, appointed Donna Bartlett as chief compliance officer.
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ArticleDOJ arrests in Bitfinex case highlight inner workings of crypto laundering scheme
The Department of Justice arrested two individuals over an alleged conspiracy to launder approximately $4.5 billion worth of cryptocurrency stolen in the 2016 hack of digital asset trading platform Bitfinex.
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ArticleHow Accor manages global data privacy compliance
Marie-Christine Vittet, vice president of compliance at hospitality chain Accor, shares with Compliance Week the company’s journey toward a global data privacy compliance program.
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ArticleIndictment: China-based Hytera stole trade secrets from Motorola
Hytera Communications allegedly conducted a scheme to systematically steal trade secrets from Motorola Solutions by hiring away Motorola employees who had developed its “walkie-talkie” product line, according to a federal indictment.
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ArticleTesla discloses new SEC subpoena over Elon Musk settlement
Electric car maker Tesla disclosed in a regulatory filing it received a subpoena from the SEC regarding its settlement with the regulator designed to rein in CEO Elon Musk’s Twitter posts.
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ArticleCosmote, parent company OTE fined $10.6M under GDPR
The Hellenic Data Protection Authority fined mobile phone operator Cosmote and its parent company OTE a total of €9.25 million (U.S. $10.6 million) for a data breach caused by a September 2020 cyberattack and for illegally processing customer data.
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ArticleMicrosoft, Activision Blizzard, and importance of cultural due diligence in M&A
Rarely do cultural considerations play a role in M&A transactions, though they are often critical to the ultimate success of a deal. Microsoft’s planned acquisition of embattled video game developer Activision Blizzard offers a timely case study.
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ArticleMeta threatens to pull Facebook, Instagram in Europe over GDPR data transfer dispute
Meta Platforms is threatening to pull down Facebook and Instagram in the European Union over concerns it cannot meet data-sharing rules set in the region’s General Data Protection Regulation.
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ArticleIAB Europe fined $286K under GDPR for data processing violations
The European arm of the Interactive Advertising Bureau was fined €250,000 (U.S. $286,000) by the Belgian Data Protection Authority for data privacy violations regarding its Transparency and Consent Framework.
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ArticleHiltrud Werner leaves legacy of integrity at Volkswagen
Hiltrud Werner, Volkswagen’s board member and head of integrity and legal affairs who steered the company through its U.S. compliance monitorship post-Dieselgate, discusses her indelible mark on the auto giant and her future aspirations.
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ArticleMixed results for Marcum, RSM in 2020 PCAOB inspections
The Public Company Accounting Oversight Board published 2020 inspection reports for a handful of large U.S. audit firms outside the Big Four. Marcum and RSM had the most audit deficiencies identified of the group.
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ArticleKPMG facing $1.8B lawsuit over Carillion audits
KPMG is facing a £1.3 billion (U.S. $1.8 billion) lawsuit for missing “red flags” during its audits at failed construction company Carillion, which creditors say was insolvent more than two years before it collapsed.