Editor In Chief Kyle Brasseur previews Compliance Week’s Third-Party Risk Management Summit, a two-day conference solely dedicated to the sharing of knowledge and experience within TPRM.
Kyle Brasseur
Posted inAccounting & Auditing
CohnReznick fined $1.9M for audit failures at Sequential Brands, Longfin
Audit firm CohnReznick agreed to pay $1.9 million as part of a settlement with the Securities and Exchange Commission for improper conduct at two of its clients the SEC previously charged with filing fraudulent financial statements.
Posted inAccounting & Auditing
SEC acting chief accountant: Ethical culture key to auditor independence
Paul Munter, acting chief accountant at the Securities and Exchange Commission, released a statement acknowledging recurring issues agency staff have observed regarding auditor independence consultations.
Posted inInternal Controls
Morningstar to pay $1.15M in SEC internal control failure case
Morningstar Credit Ratings agreed to pay a civil penalty of $1.15 million to resolve charges of disclosure violations and internal control failures levied by the Securities and Exchange Commission last year.
Posted inRegulatory Enforcement
DOJ recruits Hewlett Packard Enterprise CECO to lead Fraud Section
The Justice Department’s Criminal Division added another chief compliance officer to its ranks with the appointment of Glenn Leon to serve as chief of the Fraud Section.
Posted inAccounting & Auditing
PwC fined $6.2M over Galliford Try, Kier Group audit lapses
PwC will pay a total of nearly £5 million (U.S. $6.2 million) as part of a pair of enforcement actions announced by the U.K. Financial Reporting Council regarding deficiencies in the Big Four firm’s audits at construction companies Galliford Try and Kier Group.
Posted inRisk Management
CFTC comment request gauging future action on climate-related risks
The Commodity Futures Trading Commission is seeking public comment on climate-related financial risks that could inform the agency’s future guidance, interpretations, policy statements, and/or rulemaking.
Posted inInternal Controls
Report: Westpac New Zealand progressing on risk culture improvements
An independent report ordered by the Reserve Bank of New Zealand into Westpac New Zealand has found the bank is “moving in the right direction” in addressing risk culture deficiencies.
Posted inEthics & Culture
Compliance leadership panel: Current state, future trends, more
Four senior compliance practitioners shared their insights on maintaining an ethical culture, embracing data analytics, determining compliance’s role in measuring ESG metrics, and more as part of a panel discussion at Compliance Week’s National Conference.
Posted inRegulatory Enforcement
Compliance halts misconduct in SEC $5M RiverSource action
Minnesota-based broker-dealer RiverSource Distributors agreed to pay $5 million as part of a settlement with the Securities and Exchange Commission for improper switching of variable annuities carried out by certain of its employees.
