Articles | Compliance Week – Page 8
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ArticleUnderstanding ‘green hushing’ and its risks
“Green hushing” is when a company adopts a radio-silence approach to environmental goals. Many companies do it. Some don’t realize they’re doing it.
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ArticleBig penalties, admissions fuel record SEC enforcement year
The Securities and Exchange Commission collected more than $6.4 billion in enforcement penalties, fees, and interest in fiscal year 2022—the largest amount in the agency’s history and a massive increase over a transition year in 2021.
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ArticleTreasury recommends more oversight for bank-fintech relationships
A new Treasury report found as the trend of nonbank fintech companies providing financial services in partnership with regulated entities continues to grow, regulators need to increase oversight of these relationships to curb the risks they pose.
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Buzzfeed promotes CCO to chief legal officer
Media outlet Buzzfeed disclosed the promotion of Senior Vice President, Chief Compliance Officer and Head of Litigation David Arroyo to chief legal officer and corporate secretary.
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ArticleNavigating using NFTs in business applications
Non-fungible tokens can take many forms. There are potential business applications already in use, and many more are being developed as technology evolves.
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ArticleGoogle to pay record $391.5M in settlement with states over location tracking
Google agreed to pay $391.5 million to settle charges it misled millions of users regarding a setting that tracked location data without their knowledge, according to an agreement the company reached with a coalition of 40 state attorneys general.
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ArticleFTX collapse should provide momentum to regulate crypto
The collapse and bankruptcy of digital asset exchange FTX offers stark lessons into why rules that apply to traditional investments—overseen by government regulation—ought to apply to digital investments as well.
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ArticleS&P Global fined $2.5M over conflict of interest lapses
Credit rating agency S&P Global Ratings agreed to pay $2.5 million and improve its compliance practices to settle allegations by the SEC that its marketing team pressured the ratings team concerning the rating of a particular mortgage-backed security transaction.
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ArticleWalmart to pay $3.1B in nationwide opioid settlement
Walmart announced it agreed to a $3.1 billion nationwide settlement designed to resolve all the potential state lawsuits it faces for its alleged role in fueling the opioid epidemic.
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CHS names chief sustainability officer
Agriculture business cooperative CHS announced the appointment of Megan Rock as vice president, sustainability and innovation and chief sustainability officer.
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Sun Life appoints chief risk officer
Financial services and insurance company Sun Life announced the appointment of Tom Murphy as vice president and chief risk officer.
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Former investment adviser CCO pleads guilty to wire fraud
Jennifer Campbell, the former chief compliance officer of a New York-based investment adviser, faces up to 20 years in prison and a $250,000 fine after pleading guilty to wire fraud in federal court.
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ArticleCFTC commissioner warns against being ‘too cute’ when self-reporting
Businesses take varying approaches when self-reporting to regulatory agencies, which can lead to differing results. Caroline Pham, a commissioner at the Commodity Futures Trading Commission, suggests using common sense.
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UBS names global chief risk officer
Multinational investment bank UBS announced the promotion of Global Wealth Management Chief Risk Officer Damian Vogel to group chief risk officer.
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American Financial Group promotes CCO to general counsel
American Financial Group announced the promotion of Chief Compliance Officer Mark Weiss to senior vice president and general counsel.
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Societe Generale appoints group chief risk officer
Société Générale announced the promotion of Stéphane Landon to group chief risk officer.
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Silvergate Capital names chief risk officer
Silvergate Capital Corp., a provider of financial infrastructure to the digital asset industry, announced the promotion of Kate Fraher to chief risk officer for the company and its subsidiary bank.
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ArticleEx-Mylan chief information officer charged over insider trading scheme
The chief information officer at former pharmaceutical company Mylan was charged with insider trading for tipping off a former colleague about the firm’s impending merger with a division of Pfizer, among other matters.
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ArticleHow to build an effective code of conduct
Literature and survey results regarding codes of conduct and ethics reveal the elements of strong (and weak) examples.
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ArticleAustralia privacy law proposal sets steep penalty mark for breaches
The Australian government is weighing stringent new privacy reforms that would establish among the steepest penalty regimes in the world—up to AUD$50 million (U.S. $33.5 million)—for serious or repeated breaches.