Articles | Compliance Week – Page 86
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ArticleCECL roundtable explores implementation issues during COVID
How the Financial Accounting Standards Board’s CECL standard fared during the height of the pandemic and more were discussed as part of a virtual roundtable.
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ArticleCW21 Career Day takeaways: Buzz phrases to embrace for your personal brand
Over the course of Career Day at Compliance Week’s National Conference, the lineup of speakers used buzz phrases showcasing variations on a common theme: the importance of personal brand management in career success.
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ArticleJulius Baer pays $80M in FIFA corruption settlement
Swiss bank Julius Baer entered a deferred prosecution agreement and will pay $80 million for its role in a money laundering conspiracy linked to world soccer federation FIFA, the Department of Justice announced.
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ArticleReport: DOJ launches investigation into Archegos collapse
The Department of Justice has reportedly launched an investigation into the collapse of Archegos Capital Management, which cost multiple big banks billions of dollars.
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ArticleReport: GDPR fines more than doubled in Year 3
Data protection authorities issued 287 known GDPR fines between March 2020 and March 2021—a 120 percent increase in frequency, according to a new report from CMS.
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ArticleAustrian banker arrested for role in Odebrecht-related scheme
The former CEO of an Austrian bank was arrested in the United Kingdom on criminal charges for his alleged role in a massive money laundering scheme involving Brazil-based global construction conglomerate Odebrecht.
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ArticleGDPR’s future: Fine amounts, transparency among top points of contention
Experts believe the GDPR is largely “future-proof,” though fine decisions that vary considerably from one EU country to the next and lack of transparency remain areas of concern for the privacy law three years in.
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ArticleESG materiality, disclosures spur opposing views at SEC
The SEC has taken numerous steps indicating its intention to require public companies to disclose ESG risks, but the question of how such disclosures will work in practice is still very much unanswered.
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SEB replaces departing chief risk officer
Swedish financial institution SEB announced the appointment of Mats Holmström as chief risk officer to replace Magnus Agustsson, who is departing for the same position with Danske Bank.
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ArticleThree years of GDPR: Many milestones, but calls for change increase
Despite its achievements, the General Data Protection Regulation’s flaws have become evident. Some are already questioning whether the regulation—and the way it is regulated—are fit for purpose and whether the law needs to be changed.
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ArticleDanske Bank adds new chief risk officer from SEB
Danske Bank announced the appointment of Magnus Agustsson as its new chief risk officer. Agustsson will join the bank from SEB, where he held the same position.
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ArticleAML culture is in need of a revamp
Bank culture continues to be a problem following the 2008 financial crisis, and strategies formed to prevent money laundering haven’t fared much better. It’s time for a new approach, writes Martin Woods.
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ArticleThink big, act small: How the ‘PI Guidebook’ actualizes career goals
No one can hold your hand up the corporate ladder, but Executive Coach and Consultant Amii Barnard-Bahn is willing to give you a nudge up every rung in her new book.
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ArticleFormer SEC whistleblower head Jane Norberg joins Arnold & Porter
Jane Norberg, former head of the whistleblower office at the Securities and Exchange Commission, has joined D.C. law firm Arnold & Porter as a partner.
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Blockchain.com names head of legal and compliance
Blockchain.com has named Lindsey Haswell as chief legal officer and chief administrative officer. In this role, she will be responsible for leading the legal, compliance, and HR teams for the cryptocurrency blockchain company.
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ArticleSurvey: Data access further complicated by emerging privacy laws
A recent survey of 100 executives from Fortune 500 companies found more than half are struggling to balance easy access to company data with privacy and security compliance under laws like the GDPR and CCPA.
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Nomura, UBS, UniCredit fined $453M total over EU cartel scheme
The European Commission fined Nomura, UBS, and UniCredit a total of €371 million (U.S. $453 million) for their participation in a cartel scheme through a group of traders. Bank of America, Natixis, NatWest, and Portigon were also each allegedly involved but not penalized.
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ArticleSurvey: Audit still facing hurdles with next-gen tech
Many senior audit leaders and their teams are still in the early stages of, or have not yet begun, implementing next-generation tools and strategies into their internal audits, according to a new survey.
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Former Santander CCO joins K2 Integrity
Compliance monitoring firm K2 Integrity announced former Santander CCO Fred Springer has joined the firm as a senior managing director in its Financial Crimes Risk Management (FCRM) practice.
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Melio hires former Amex exec as chief compliance officer
B2B payments company Melio announced the appointment of former American Express executive Jonathan Polk as general counsel and chief compliance officer.