TD Bank, N.A. agreed to pay approximately $105,000 as part of a settlement with OFAC for “multiple sanctions compliance breakdowns” that contributed to more than 1,000 apparent violations of North Korean sanctions regulations.
Jaclyn Jaeger
Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal, enforcement, technology, and more. Prior to joining CW, she spent four years as a legal reporter for Lawyer’s Weekly. Jaclyn attended undergraduate school at St. Joseph’s College of Maine and graduate school at Emerson College, earning degrees in journalism.
Posted inAccounting & Auditing
ISACA issues audit resources on SOX, VPNs, agile auditing
The ISACA, an international professional association focused on IT governance, released three new resources designed to assist audit professionals in enhancing their skills to meet the needs of the evolving audit landscape.
Posted inEurope
BlueCrest facing $55.5M fine for failing to manage fairly a conflict of interest
The U.K. Financial Conduct Authority announced its intention to fine hedge fund BlueCrest Capital Management £40,806,700 (U.S. $55.5 million) for failing to manage fairly a conflict of interest. BlueCrest has challenged the decision.
Posted inRegulatory Enforcement
NatWest to pay $35M for defrauding U.S. Treasury markets
NatWest Markets, the investment banking arm of London-based NatWest Group, agreed to pay approximately $35 million after pleading guilty to engaging in various fraud schemes over the span of a decade in U.S. Treasury markets.
Posted inInternal Controls
Nikola to pay $125M to settle SEC fraud charges
Electric semitruck startup Nikola agreed to pay $125 million to settle charges brought by the SEC for defrauding investors by misleading them about its products, technical advancements, and commercial prospects.
Posted inData Privacy
Desjardins reaches $155M proposed settlement in data breach class action
Desjardins Group has reached a proposed C$201 million (U.S. $155 million) settlement agreement in a class-action lawsuit following a long-running data breach that ultimately compromised the personal information of nearly 10 million individuals in Canada and abroad.
Posted inInternal Controls
Survey highlights need for better data integration between risk and compliance
A recent survey from Compliance Week and Riskonnect presents a compelling argument for companies to invest in bridging the gap between risk management and compliance data.
Posted inEthics & Culture
CCO Q&A: How Prime Trust is managing compliance in evolving crypto space
Compliance Week discusses with Nirvana Patel, chief compliance officer and BSA officer at Prime Trust, the unique challenges of practicing compliance in the cryptocurrency industry and his thoughts on the regulatory landscape moving forward.
Posted inInternal Controls
Risk and compliance considerations for fintech startups and their bank relationships
Fintech startups are typically free to enjoy rapid growth without the burden of strict regulatory oversight. But as scrutiny over the industry grows, so does the urgency for fintechs to get their compliance house in order.
Posted inEurope
Dutch DPA fines government tax authority $3.1M under GDPR
The Dutch Data Protection Authority announced a fine of €2.75 million (U.S. $3.1 million) against the government’s Tax and Customs Administration for data processing violations of the EU’s General Data Protection Regulation.