Appointment Blogs | Compliance Week – Page 118
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Swiss regulator: J.P. Morgan seriously breached AML regulations
The Swiss Financial Market Supervisory Authority, FINMA, concluded its enforcement proceedings against J.P. Morgan Chase, saying the bank "seriously breached" anti-money laundering regulations by failing to screen adequately transactions and business relationships booked in Switzerland associated with the Malaysian sovereign wealth fund 1MDB.
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FINRA fines Raymond James $2M for flawed e-mail monitoring system
The Financial Industry Regulatory Authority has fined Raymond James Financial Services $2 million for failing to maintain reasonably designed supervisory systems and procedures for reviewing e-mail communications, serving as a warning to compliance officers to review FINRA's guidance concerning the review and supervision of electronic communications.
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Keppel Offshore to pay $422M to resolve bribery case
Singapore-based Keppel Offshore & Marine and its wholly owned U.S. subsidiary will pay a combined $422 million criminal penalty to resolve charges with authorities in the United States, Brazil, and Singapore arising from a decade-long to pay millions of dollars in bribes to officials in Brazil.
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Safeguarding HSBC against Zupta
HSBC’s new anti-money laundering (AML) and sanctions policies are due to be in place by the end of the year, but what form of compliance or enforcement will they take?
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SEC relieves year-end tax reform reporting crisis
With tax reform signed into law, the SEC has issued guidance explaining its expectations with respect to the related financial reporting requirements.
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Groups propose new structure for global auditing standards
A group of international regulators and financial institutions is proposing a new mechanism to set standards for auditing in global capital markets.
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Agencies announce postitive results for living wills
The Federal Deposit Insurance Corporation and the Federal Reserve Board have released resolution plans for the eight largest and "most complex" domestic banks. In a signal of progress, none were found to have severe deficiencies.
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Fed plans transfer of consumer protection rules to CFPB
The Federal Reserve Board has announced the repeal of one regulation and revisions to another as part of an effort to transfer certain consumer protection rule-writing authority to the Consumer Financial Protection Bureau.
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PCAOB fines Grant Thornton over audit, partner failures
The PCAOB has extracted a $1.5 million settlement from Grant Thornton over allegations of audit and quality control failures around engagement partner performance.
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Justice Dept., AGs, protest ‘bureaucratic sleight-of-hand’ in CFPB battle
The legal battle over leadership of the Consumer Financial Protection Bureau has escalated, with both the Department of Justice and a coalition of Republican attorneys general entering the fray.
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Could companies get relief from tax reform year-end reporting?
With tax reform nearly law, the focus for public companies is shifting to whether companies might get some relief from enormous year-end reporting burdens.
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New report on Deloitte shows no change in audit findings
Audit regulators found problems with 24 percent of the audits they inspected at Deloitte in 2016, the same number inspectors flagged in 2015.
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What newspapers do you read?
In this day and age, it would be wise for chief compliance officers to keep on top of the news, especially when it regards corruption, says The Man From FCPA.
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Compliance and employment separation
Before beginning any layoffs, it is essential that the compliance practitioner work with the legal department and HR function to make certain employment separation documents are in compliance with SEC rules.
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The imperial CEO
Former GE CEO Jeff Immelt managed in a way that he could have a backup private jet follow him around, but never had time to speak with the person managing the fleet...or to let the Board know about his infamous "ghost plane."
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Where is your backup?
A power outage at Atlanta’s Hartsfield Airport is a reminder to us all that having backup systems in place is essential to good business.
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The desktop risk assessment
If you perform an annual Desktop Risk Assessment with a full worldwide risk assessment every two years, you should be in a good position to keep abreast of compliance issues that may change and need more or greater risk management.
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Unsealed letter: Uber engaged in fraud, theft, espionage, more
Uber’s former manager of global intelligence, Richard Jacobs, claims to have observed a laundry list of illegal activities at Uber, including fraud, theft, espionage, and more.
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CFTC launches virtual currency resource web page
The Commodity Futures Trading Commission announced the launch of a new virtual currency resource Web page, a central repository for CFTC-produced resources about virtual currency and is designed to educate and inform the public about these commodities, including the possible risks associated with investing or speculating in virtual currencies or ...
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What is risk?
Reports indicate the world’s largest cement manufacturer, LafargeHolcim is under investigation relating to its former operations in Syria.