Credit Suisse has combined separate risk and compliance heads into one board-level position, part of a shakeup of the bank’s corporate structure that includes a renewed emphasis on sustainable investing.
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 inRisk Management
IBM report: Average data breach cost nearly $4M in past year
An IBM report that examined more than 500 cyber-security breaches occurring between August 2019 and April 2020 found the average breach costs companies $3.86 million and requires nearly 300 days to identify and contain.
Posted inRegulatory Policy
New SEC division to coordinate response between OCIE, regional offices
The Securities and Exchange Commission announced the creation of a new division designed to bolster compliance with securities laws among firms working with the agency’s regional offices.
Posted inWhistleblowers
CFTC awards $9M to whistleblower
The Commodity Futures Trading Commission awarded $9 million to a whistleblower whose “specific, credible, and timely tip’ led to a successful enforcement action. The payout is one of the five largest awarded by the regulator since 2014.
Posted inInternal Controls
How to navigate states’ patchwork quilt of return-to-office training requirements
As if cobbling together a return-to-office plan for your company during a pandemic is not difficult enough, 16 states now require employees receive coronavirus safety training.
Posted inAccounting & Auditing
Under Armour facing potential SEC enforcement over accounting practices
Under Armour revealed in a regulatory filing that its accounting practices are the subject of a pending enforcement action by the Securities and Exchange Commission.
Posted inInternal Controls
The problem with ‘ghost CCOs’ and the haunting consequences
If you’re a small investment firm owner acting as your firm’s chief compliance officer, here are some scary stories that might keep you up at night.
Posted inRegulatory Policy
CFTC finalizes new swap dealer rules under Dodd-Frank
In a pair of split votes that fell along party lines, the Commodity Futures Trading Commission approved rules on swap dealers that complete rulemaking ordered by the Dodd-Frank Act, enacted a decade ago.
Posted inAccounting & Auditing
Accounting execs arrested as Wirecard probe continues
German prosecutors arrested three Wirecard executives, including the former CFO and head of accounting, as an investigation into the company’s inflated balance sheet and a missing $2 billion continues to expand.
Posted inFinancial Services
OCC proposal seeks to clarify when banks are ‘true lender’
The Office of the Comptroller of the Currency has proposed a rule meant to eliminate ambiguity in federal banking regulations regarding loans made by national banks and their third-party partners.