Articles | Compliance Week – Page 66
-
ArticleSEC investor advocate: ‘Gamification’ exposes holes in Reg BI
SEC Investor Advocate Rick Fleming said online platforms designed to make stock trading more easily accessible and exciting “expose what may be a significant flaw in Reg BI” regarding unsolicited transactions.
-
ArticleFINRA encourages proactive compliance with FinCEN AML/CFT priorities
The Financial Industry Regulatory Authority is encouraging member firms to start proactively incorporating new AML/CFT priorities mandated by Congress into their risk-based compliance programs.
-
ArticleSEC commissioners clash on cryptocurrency securities debate
SEC Commissioners Caroline Crenshaw and Hester Peirce used recent speeches to stake opposite sides on the central debate of whether all cryptocurrencies are securities.
-
ArticleKPMG rapped for ‘untruthful defense’ in Silentnight investigation
KPMG and one of its former partners were found to be “untruthful” during an independent tribunal’s investigation into the audit firm’s advisory role regarding the sale of mattress company Silentnight to private equity firm HIG Capital.
-
ArticleEx-Braskem CEO gets 20 months in prison over bribery scheme
Jose Carlos Grubisich was sentenced to 20 months in prison for his role in a scheme to divert hundreds of millions of dollars in bribe payments from Braskem to government officials and political parties in Brazil.
-
Article
First Bancorp appoints new accounting leadership
First Bancorp, parent company of First Bank, announced a series of transitions in accounting leadership, with General Counsel Elizabeth Bostian taking on the role of chief financial officer among the changes.
-
Article
USAA names accounting, risk chiefs amid executive shuffle
Insurance provider USAA named Brad Weber as chief accounting officer and Mani Sulur as bank chief risk officer among three appointments to its leadership team.
-
Article
ServiceNow appoints chief accounting officer
Digital workflow software company ServiceNow has hired Kevin McBride as senior vice president, corporate controller and chief accounting officer.
-
Article
CoinFlip names chief compliance officer
Cryptocurrency services platform CoinFlip appointed Colleen Kavanagh as its new chief compliance officer.
-
Article
Qualcomm announces general counsel succession
Wireless technology giant Qualcomm has appointed Ann Chaplin as its general counsel and corporate secretary, effective Nov. 1. She will replace the retiring Don Rosenberg, who served in the position since 2007.
-
ArticlePandora Papers exposed gaps in AML compliance. Is beneficial ownership registry the answer?
FinCEN’s upcoming ultimate beneficial ownership registry could help to combat some of the anti-money laundering deficiencies put on display by the Pandora Papers, but not until Congress gets serious about funding the initiative.
-
ArticleLate surge expected to comply with EU Whistleblowing Directive
European companies are expected to rush to comply with new whistleblower protection rules only when they take effect in December, meaning workers are not adequately protected for any disclosures they make in the meantime.
-
ArticleFed recommends member banks perform climate change stress tests
The Federal Reserve will encourage financial institutions to assess the potential financial ramifications of climate change by conducting stress tests, similar to those performed following the 2007-09 financial crisis.
-
Article
SEC’s Gurbir Grewal stumps for proactive compliance in first speech
In his first publicized speech as director of the Securities and Exchange Commission’s Division of Enforcement, Gurbir Grewal spoke to the importance of “modeling excellence” in compliance efforts.
-
ArticlePetrofac fine fallout: Penalty too light for SFO to claim success?
Petrofac’s relatively low penalty for multiple bribery offenses might encourage companies to take their chances when faced with the choice of a possible criminal conviction or cutting a deal with the Serious Fraud Office, legal experts warn.
-
ArticleMetals Technology Initiative issues new anti-corruption resources
The Metals Technology Initiative has launched a new website making its guidance on gifts and hospitality and third-party due diligence freely accessible.
-
Article
DOJ to enforce False Claims Act in regulating contractor data breaches
The Department of Justice will use the False Claims Act to pursue cases of cybersecurity-related fraud by government contractors and grant recipients—including claims against entities that fail to report breaches and hacks in a timely manner.
-
ArticleNatWest pleads guilty in landmark U.K. money laundering case
National Westminster Bank pleaded guilty to landmark criminal charges brought by the U.K. Financial Conduct Authority for violations of the Money Laundering Regulations 2007.
-
ArticleSenators waiving white flag on privacy law with request to FTC?
The request by a group of prominent Democratic senators that the Federal Trade Commission launch rulemaking on data privacy signals Congress is not close to passing a federal law anytime soon, experts say.
-
Article
Scotiabank announces chief risk officer succession
Scotiabank announced the appointment of Phil Thomas as chief risk officer. He will succeed Daniel Moore, who is leaving the bank after 25 years to pursue other interests.