Florida became the 10th U.S. state to pass a comprehensive consumer data privacy bill, though its law will only apply to larger businesses with more than $1 billion in annual revenue.
Kyle Brasseur
Posted inAccounting & Auditing
PCAOB proposal puts pressure on auditors to find fraud
The Public Company Accounting Oversight Board proposed standard updates that would require auditors to enhance scrutiny toward potential instances of company noncompliance, including fraud, in their audit work.
Posted inAccounting & Auditing
Cantaloupe fined $1.5M in SEC accounting fraud case
Electronic payments software company Cantaloupe agreed to pay a $1.5 million penalty to settle allegations of accounting fraud levied by the Securities and Exchange Commission arising from improper revenue recognition practices.
Posted inData Privacy
Microsoft to pay $20M in FTC settlement over Xbox COPPA lapses
Microsoft agreed to pay $20 million as part of a settlement with the Federal Trade Commission addressing allegations its Xbox video game platform illegally collected and retained the personal information of children.
Posted inRegulatory Enforcement
SEC dismisses 42 cases after improper access findings
The Securities and Exchange Commission dismissed proceedings in 42 enforcement cases after disclosing improper staff access to restricted records at the agency occurred on a wider scale than initially identified.
Posted inEthics & Culture
Risk assessment fundamentals: Flexibility, accountability, more
Tailoring your risk assessments to guidance from your relevant regulators is a good idea, a panel of compliance practitioners speaking at Compliance Week’s 2023 National Conference agreed. But it certainly isn’t the place to start.
Posted inEthics & Culture
‘Elephant in the room’: Combating tension between compliance, HR
Regulators are collaborating—both domestically and internationally—more than ever before. And they expect companies to be doing the same, noted panelists during a session on collaboration between compliance and human resources at Compliance Week’s 2023 National Conference.
Posted inEurope
Meta fined record $1.3B in GDPR data transfer ruling
The Irish Data Protection Commission announced a record penalty of €1.2 billion (U.S. $1.3 billion) against Meta regarding its transfers of user data from the European Union to the United States in violation of the General Data Protection Regulation.
Posted inEthics & Culture
Ten takeaways from Compliance Week 2023
Significant changes in policy and technology, in addition to fresh perspectives on tried-and-true compliance topics, highlighted the discussion at Compliance Week’s 2023 National Conference.
Posted inRegulatory Enforcement
Murad to pay $3.3M for ‘egregious’ Iran sanctions lapses
California-based cosmetics company Murad, a subsidiary of Unilever, agreed to pay $3.3 million as part of a settlement with the Office of Foreign Assets Control addressing apparent Iran sanctions violations over an eight-year period.
