Brian Rabbitt will depart the Justice Department on Friday after a short time serving as acting head of the Criminal Division. David Burns, a senior official in the National Security Division, will succeed him.
Aaron Nicodemus
Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass.
Email: aaron.nicodemus@complianceweek.com
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Posted inInternal Controls
CCO allegedly ignored in Ripple cryptocurrency lawsuit
The chief compliance officer at Ripple Labs allegedly warned company leaders on multiple occasions that its marketing of its cryptocurrency offering, XRP, could lead the SEC to classify it as a security—the focal point of a lawsuit filed Tuesday.
Posted inAML
FinCEN proposes BSA reporting rule for cryptocurrency transactions
FinCEN has proposed a new rule looking to subject cryptocurrency transactions to similar AML reporting requirements placed on other financial institutions by the Bank Secrecy Act.
Posted inAccounting & Auditing
SEC, China react as Trump approves foreign audit oversight bill
President Donald Trump signed into law a measure that will kick publicly traded Chinese companies off U.S.-based exchanges if they refuse to allow U.S. regulators to examine their finances.
Posted inEurope
U.K. court upholds insider trading charges against former UBS compliance officer
A U.K. appeals court upheld five insider trading convictions against a former senior compliance officer at investment bank UBS.
Posted inAccounting & Auditing
EY member firm fined $1.5M for failure to uncover $3B homebuilding fraud
A member firm of EY Global has been fined $1.5 million by the SEC to settle audit violations and improper conduct charges connected to a $3.3 billion accounting fraud committed by one of its customers.
Posted inRegulatory Enforcement
FinTech darling Robinhood fined $65M for misleading customers
Mobile trading app provider Robinhood Financial, which has become a disruptive force in the stock market, has agreed to pay $65 million to the SEC to settle charges of misleading customers about how it makes money and for failing to secure best sale prices.
Posted inRegulatory Policy
Third time’s a charm? SEC adopts controversial extraction rules
After two failed iterations, the SEC has approved revamped rules laying out what commercial oil, natural gas, and mineral extraction companies must disclose about payments they make to U.S. and foreign governments.
Posted inData Privacy
FTC data requests could pave way to federal privacy law, experts say
FTC requests issued to nine social media and video streaming services for information about how they collect and use personal information could be a step toward the U.S. government enacting federal privacy legislation.
Posted inAccounting & Auditing
Audit whistleblower receives $300K in rare SEC award
The Securities and Exchange Commission announced the award of $300,000 to a whistleblower with audit-related responsibilities, a rarity for the program.
