The Securities and Exchange Commission announced it would award $450,000 to a whistleblower with compliance-related responsibilities—a rarity in the program’s history.
Kyle Brasseur
Posted inUncategorized
Jefferies Group CFO dead from coronavirus complications
Jefferies Group announced the death of longtime Chief Financial Officer Peregrine “Peg” Broadbent from coronavirus complications.
Posted inAccounting & Auditing
CECL delayed amid U.S. government’s coronavirus response
FASB’s controversial standard on credit losses was dealt two significant blows Friday as the U.S. government scrambles to respond to the financial impact of the escalating coronavirus pandemic.
Posted inEurope
Swedish regulator delays SEB money laundering probe
Sweden’s financial regulator announced it will wait until June to conclude its money laundering investigation into Scandinavian Enskilda Banken AB (SEB) due to the coronavirus pandemic.
Posted inRegulatory Enforcement
DOJ begins enforcement crackdown on coronavirus fraud
The Department of Justice has acted swiftly on its vow to crack down on fraud during the coronavirus pandemic, issuing its first related enforcement action against a Website acting as an alleged wire-fraud scheme.
Posted inWhistleblowers
SEC awards $1.6M to whistleblower for case-opening intel
The Securities and Exchange Commission announced an award of more than $1.6 million to a whistleblower whose information formed part of the basis for charges brought in a successful enforcement action.
Posted inEurope
Swedbank cuts ex-CEO’s severance following AML probe
Swedbank has canceled the severance pay of its former CEO and accepted a record fine of 4 billion Swedish Krona (U.S. $390 million) in the wake of the findings of an independent investigation into its anti-money laundering deficiencies.
Posted inEurope
U.K. AML report: Data analysis of risks lacking
Implementation of risk-based processes and the data analysis that sits behind them are among the biggest weaknesses laid out in a review of AML efforts in the accounting and legal sectors conducted by the U.K.’s financial watchdog.
Posted inEthics & Culture
Elon Musk’s response disappointing amid coronavirus chaos
Tesla CEO Elon Musk believes coronavirus panic is more harmful than the virus itself, but he’s done little to provide help in any form despite having the platform to do so.
Posted inEurope
Swedbank announces new risk chief as probe nears end
Swedbank announced the appointment of Rolf Marquardt as chief risk officer just over a week prior to the expected announcement of the findings of a probe into its AML shortcomings conducted by law firm Clifford Chance.
