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.
Risk Management
Posted inRegulatory Enforcement
EFG International settles Cuba, blocked persons U.S. sanctions case
Swiss-based global private banking group EFG International agreed to pay more than $3.7 million as part of a settlement with the Office of Foreign Assets Control addressing apparent violations of U.S. sanctions against Cuba and two blocked individuals.
Posted inRegulatory Enforcement
Change Healthcare facing HHS probe following crippling cyberattack
Change Healthcare, a health payment processor hit by a crippling cyberattack in February, is under investigation by the Department of Health and Human Services’ Office for Civil Rights.
Posted inRegulatory Enforcement
JPMorgan fined $348M by OCC, Fed over trade surveillance lapses
JPMorgan Chase will pay $348.2 million in fines to settle allegations laid by two federal banking regulators that it failed to adequately monitor trading and order activity.
Posted inAccounting & Auditing
The auditor’s role in supply chain due diligence
Although compliance should be the company’s primary responsibility, auditors have become the last line of defense and are getting pressured and blamed for supply chain issues, including instances of child labor. Is this expected to become the normal for the profession?
Posted inAccounting & Auditing
Study: Climate transition impact reporting still lacking
Large polluters are failing to account for climate change impact and adaptation, but policymakers need to harmonize disclosure requirements to drive coherent action.
Posted inRisk Management
U.S. banking regs mulling enhanced operational resiliency frameworks
Acting Comptroller of the Currency Michael Hsu said federal banking agencies are considering enhancements to their operational resiliency requirements for member banks.
Posted inAccounting & Auditing
DOJ joins SEC in probing ADM accounting practices
ADM disclosed the Department of Justice joined the Securities and Exchange Commission in probing the food processing company’s accounting practices.
Posted inEthics & Culture
Want to be an ethical supply chain influencer? It’s all about the ‘collab’
Supply chain and ethics and compliance professionals could take a page out of the social media influencer playbook and look to collaborate with suppliers more to create their own win-win scenarios.
Posted inRegulatory Enforcement
Ford to pay $365M in DOJ deal for evading customs tariffs
Ford Motor Co. agreed to pay $365 million to settle charges levied by the Department of Justice that the automaker purposefully dodged import duties for years by mislabeling and undervaluing hundreds of thousands of cargo vans it brought into the United States from Turkey.
