Washington Federal Bank has agreed to pay $2.5 million in accordance with a consent order reached with the Office of the Comptroller of the Currency in February 2018.
Kyle Brasseur
Posted inAccounting & Auditing
FRC probing Crowe over Akazoo audit
The U.K. Financial Reporting Council announced the start of an investigation into audit firm Crowe UK concerning the financial statements of Luxembourg-incorporated on-demand music streaming subscription company Akazoo.
Posted inEurope
Germany’s N26 fined $5M for AML lapses
Mobile bank N26 revealed it paid a €4.25 million (U.S. $5 million) fine ordered by Germany’s market regulator regarding deficiencies in its reporting of suspicious activities “in the area of anti-money laundering.”
Posted inUncategorized
Robinhood touts crypto wallet offering, hires new CCO
Fintech firm Robinhood has hired a new chief compliance officer at its cryptocurrency arm ahead of the first round of testing for its cryptocurrency wallet offering.
Posted inUncategorized
Departing CFTC commissioner to join SEC as general counsel
Dan Berkovitz has signed on to become general counsel at the SEC less than three weeks since announcing his intention to step down as a commissioner at the CFTC.
Posted inWhistleblowers
SEC issues top-10 whistleblower award at $36M
With the end of a record fiscal year around the corner, the Securities and Exchange Commission issued yet another top-10 whistleblower award at approximately $36 million.
Posted inRegulatory Enforcement
SEC brings first-ever actions enforcing 2016 municipal advisor rule
The Securities and Exchange Commission charged Choice Advisors and two of its principals in its first enforcement actions under a non-solicitor municipal advisors rule that took effect in 2016.
Posted inAccounting & Auditing
FASB proposal seeks to clarify fair value standard
The Financial Accounting Standards Board issued a proposed update to Topic 820 that seeks to establish that a contractual restriction on the sale of an equity security should not be considered in measuring fair value.
Posted inAccounting & Auditing
KPMG Australia fined $450K over training test cheating
The Public Company Accounting Oversight Board announced a $450,000 fine against KPMG’s Australian subsidiary to resolve allegations of widespread cheating on personnel training tests at the firm.
Posted inEthics & Culture
Message to compliance on ESG: ‘Step up and lead’
Regardless of situation, one thing all companies should have in common is a compliance presence as part of ESG decision-making, said Jim Massey during a fireside chat at CW’s “Everything ESG” virtual event.
