Deutsche Bank was assessed a penalty of €50,000 (U.S. $54,000) by Germany’s financial supervisory authority for its alleged miscommunication of a 2023 information technology security incident.
Kyle Brasseur
Posted inRegulatory Enforcement
CFTC dings U.S. Bank, Oppenheimer over off-channel comms violations
The Commodity Futures Trading Commission announced settlements with U.S. Bank and Oppenheimer & Co. for admitted recordkeeping and supervision failures regarding employee use of off-channel communications for conducting business.
Posted inEthics & Culture
Departing ABN AMRO risk chief says climate, cyber among priorities
Tanja Cuppen, chief risk officer of ABN AMRO, shared her view on the Dutch bank’s biggest risk focus areas and the accomplishments of her tenure a month ahead of her planned departure.
Posted inAccounting & Auditing
CFTC awards $1.25M to compliance/audit whistleblower
The Commodity Futures Trading Commission announced a landmark whistleblower award of approximately $1.25 million to an individual in an internal compliance or audit function who came forward with information on misconduct occurring at his or her employer.
Posted inEurope
SFO launches probe into collapsed Carlauren Group
The U.K. Serious Fraud Office announced two raids and three arrests coinciding with the launch of an investigation into collapsed property developer Carlauren Group.
Posted inEurope
Italian DPA fines UniCredit $3M over data breach GDPR lapses
The Italian data protection authority announced a fine of €2.8 million (U.S. $3 million) against UniCredit for alleged violations of the General Data Protection Regulation regarding insufficient security measures the bank had in place during a cyberattack.
Posted inAnti-Bribery
DOJ eyeing more FCPA cases with whistleblower program
The Department of Justice anticipates its upcoming whistleblower reward program will help the agency increase its pipeline of cases involving apparent violations of the Foreign Corrupt Practices Act, said Acting Assistant Attorney General Nicole Argentieri.
Posted inAccounting & Auditing
Chemours says probe found accounting misconduct by execs
Chemours said an internal review into the actions of senior managers alleged to have engaged in accounting misconduct uncovered violations of the chemicals company’s code of ethics regarding the promotion of full, fair, accurate, timely, and understandable disclosure.
Posted inFinancial Services
SEC expands scope of order execution disclosure rule
Lost in the shuffle of the approval of its controversial climate-related disclosure rule, the Securities and Exchange Commission also adopted amendments to its rule for order executions in national market system stocks.
Posted inRegulatory Enforcement
Monaco: ECCP update coming for management of AI risks
The Department of Justice is working on an update to its Evaluation of Corporate Compliance Programs guidance to spell out the responsibilities of compliance staff for managing artificial intelligence-related risks.