Ticketmaster agreed to a $10 million criminal fine as part of a deferred prosecution agreement to resolve charges that it repeatedly accessed the computer systems of a competitor without authorization to illegally gather business intelligence.
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
New IAASB standards tackle audit quality management
The International Auditing and Assurance Standards Board has issued a trio of new and revised standards intended to strengthen and modernize the way audit firms on an international level approach quality management.
Posted inInternal Controls
Learning from SolarWinds: Five steps to fortify your cloud supply chain
For most companies, supply chain risk management traditionally focuses on managing physical third-party risks. But what the SolarWinds cyber-attack revealed is the catastrophic havoc fourth and fifth parties can also wreak in the often-ignored cloud supply chain.
Posted inAccounting & Auditing
RPM, chief compliance officer to pay $2M for accounting violations
RPM International and its general counsel and chief compliance officer have agreed to a $2 million settlement with the SEC for accounting and disclosure rules violations relating to a prior DOJ investigation.
Posted inInternal Controls
Compliance called out in Walmart opioid lawsuit
The Department of Justice alleged many failures by Walmart’s compliance program in its 160-page lawsuit accusing the retailer of playing an active role in fueling the opioid epidemic.
Posted inEurope
Fines against financial institutions hit $10.4B in 2020
Financial institutions have been hit with $10.4 billion in global fines and penalties related to AML, KYC, data privacy, and MiFID regulations in 2020, according to a recent Fenergo report.
Posted inInternal Controls
How compliance officers can apply COSO’s ERM Framework in practice
Representatives from the Committee of Sponsoring Organizations of the Treadway Commission and its partners explain how to implement the organization’s latest guidance on identifying, monitoring, and mitigating compliance risks.
Posted inEurope
Charles Schwab U.K. fined $12M for failing to protect client assets
The U.K. Financial Conduct Authority fined Charles Schwab U.K. approximately £9 million (U.S. $12 million) for compliance failures related to the protection of client assets.
Posted inRisk Management
Cyber-security lessons from the SolarWinds hack
The lessons from the massive SolarWinds hack on where vulnerabilities still lurk in the third-party vendor supply chain cannot be grasped soon enough.
Posted inAccounting & Auditing
Luckin Coffee to pay $180M for accounting fraud
China-based Luckin Coffee has agreed to a $180 million penalty as part of a settlement with the U.S. Securities and Exchange Commission to resolve charges related to the coffee chain’s inflated-sales scandal.