Appointment Blogs | Compliance Week – Page 270
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AP Offers Up New Treasure Trove of SEC-Related Videos
The Associated Press made hundreds of thousands of video stories dating from 1895 to the present available on its YouTube channels. The newly available videos include countless clips that may be of interest to compliance professionals. The channel features clips such as the “House committee hearing on Madoff scandal” and ...
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New Executive Director Named for IIA-Canada
The Institute of Internal Auditors–Canada, has appointed Shelley Pelkey as IIA–Canada’s executive director. In her new role, Pelkey will oversee services for IIA members in Canada and coordinate programs with 12 Canada IIA chapters. Details inside.
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Appellate Court Allows Constitutional Challenge to CFPB
A small Texas bank scored a potentially big victory last week when a federal appeals court ruled that it has standing to challenge the constitutionality of the Consumer Financial Protection Bureau. The decision, overturning a 2013 district court ruling, rejected a similar challenge to the Financial Stability Oversight Council and ...
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LRN Expands Online Library of E&C Education
LRN, a provider of ethics and compliance knowledge solutions and advisory services, recently added ten new training courses to its online education library. Details on the new training courses, which feature a variety of topics, lengths and instructional styles, are inside.
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World Bank Procurement Framework Approved
The World Bank’s board of directors has approved a new policy governing the procurement of projects financed by the Bank. According to the World Bank, this “once-in-a-generation systematic reform and culture change” will allow it “to better respond to the needs of client countries, while preserving robust procurement standards throughout ...
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Fed to China Construction Bank: Fix AML Controls
The U.S. Federal Reserve and the New York Department of Financial Services in an enforcement action this week ordered China Construction Bank and its New York branch to significantly improve its compliance operations. The bank and the branch have 60 days to jointly submit a written enhanced compliance program in ...
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Gallagher Blasts Labor Dept.’s Proposed Fiduciary Rule
Image: Dan Gallagher, a reliably conservative voice at the SEC, is slamming the Labor Department’s proposed fiduciary standard for broker-dealers. The rule means clients who are not high net worth “will be ‘fired’ by their brokers or jettisoned to robo-advisers,” he said. Gallagher also lauded a court decision striking down ...
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Brady Corporation Names New Chief Accounting Officer
Brady Corporation, a manufacturing company, has named Aaron Pearce as its new chief accounting officer, effective immediately.
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National Planning Corporation Names CCO
National Planning Corporation, an independent broker-dealers, has announced the appointment of Patricia McCallop as chief compliance officer. She will be responsible for leading NPC’s compliance team and overseeing the company’s adherence to state and federal regulations. Details inside.
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NN Names General Counsel
NN, a diversified industrial company, has appointed Matthew Heiter to the newly created role of general counsel, effective immediately. He will report to President and Chief Executive Officer Richard Holder.
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HomeBancorp Names Chief Risk and Compliance Officer
HomeBancorp, a financial institution, recently promoted Jon James as chief risk and compliance officer. He formerly was BSA and retail compliance officer. Details inside.
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SEC Wraps Up 'Alcoholics Anonymous' Insider Trading Case
Last week, the SEC announced the final resolution of an insider trading case that flowed from the most unusual of betrayals: information allegedly misappropriated from a senior executive who was confiding in a someone through their relationship at Alcoholics Anonymous.
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FBI, SEC Pursue ‘Pump-and-Dump’ That May Tie to JPMorgan Hack
The FBI has arrested four men in a pump-and-dump stock scheme that authorities reportedly also believe may be related to the massive customer data hack that occurred last summer at JPMorgan. According to recent reports the four men were arrested “in connection with a series of fraudulent investment schemes involving ...
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IASB Follows Suit on Deferring Revenue Recognition One Year
Image: The International Accounting Standards Board has decided to delay the effective date of its revenue recognition standard by one year, just as FASB pushed out its required implementation date to 2018. IASB is delaying the standard because it is working on clarifications to help implementation and because it “keeps ...
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Banamex USA Fined $140M for AML Violations
The Federal Deposit Insurance Corporation today imposed a civil penalty of $140 million against Banamex USA for violations of the Bank Secrecy Act and anti-money laundering laws and regulations. The FDIC imposed the penalty on the same day that Citigroup, which purchased Mexico-based Banamex in 2001, said it would be ...
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SFO in Talks With Barclays to End Long-Running Criminal Probe
The Serious Fraud Office has extended a deferred-prosecution agreement to Barclays to end an investigation into the bank’s alleged role in the £2 billion Qatari 2008 fundraising and other practices that helped the bank weather the financial crisis. British regulators recently gained the power to issue DPAs, and the SFO ...
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Podcast: The Increasing Demands on Healthcare Compliance
Image: The Justice Department and the Department of Health and Human Services continue to focus on healthcare fraud and compliance lapses. In response, healthcare associations, including the HHS Office of Inspector General, have collaborated on related guidance. In our latest podcast, we talk to Michael Peregrine, a partner with the ...
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Czech Bankers Concerned About New EU Rules
Czech bankers are worried about new European rules that may pose systemic risks to countries across Europe. The legislation, which is currently being reviewed by the European Commission will cause big depositors and bondholders, instead of national regulators, to incur more losses. Bankers are worried that this could lead ...
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Restructuring the Bank of England: More Transparency
Image: In a recent consultation paper, Britain’s Finance Minister George Osborne unveiled his plans to restructure the Bank of England’s regulatory system. Among his initiatives, the National Audit Office will provide more transparency to the central bank, while the Prudential Regulation Authority will no longer operate as a subsidiary and ...
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Trimble Navigation Selects MetricStream for SOX and Conflict Minerals Compliance
Trimble Navigation, a maker of GPS and survey equipment, has selected MetricStream SOX Compliance Management App to strengthen internal controls, as well as ensure compliance with all SOX compliance requirements. It also has selected its Conflict Minerals Management App to streamline their conflict minerals program and reporting requirements. Details inside.