The European Commission imposed maximum disciplinary measures in fining U.S.-based biotechnology company Illumina €432 million (U.S. $476 million) regarding its “gun-jumping” merger with cancer detection company Grail.
Surveys & Benchmarking
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U.S. bank failures prompt reassessment of third-party risks
The recent banking crisis—in which three mid-sized U.S. banks failed—prompted just under half of compliance professionals across all industries to reassess their TPRM procedures, according to a recent survey conducted by Compliance Week and Riskonnect.
Posted inRegulatory Enforcement
Potential sanctions violations: To voluntarily self-disclose or not?
The Department of Justice scrutinizing sanctions on par with how it views bribery under the Foreign Corrupt Practices Act alters the calculus of whether a company should voluntarily self-disclose potential violations, experts discussed at CW’s TPRM Summit.
Posted inRisk Management
Survey: Investment adviser compliance ramps up testing on advertising, marketing
The most popular mock exams conducted by compliance professionals at investment adviser firms this year have been on the Securities and Exchange Commission’s advertising/marketing rule, according to a new poll.
Posted inData Privacy
California privacy reg delay offers little more than short reprieve
Many businesses are breathing a sigh of relief following a court ruling that delayed enforcement of certain provisions of the California Privacy Rights Act, but companies should not rest on their laurels, according to experts.
Posted inEthics & Culture
Self check-ins key to personal, professional growth
“Risk assess yourself constantly.” Expert speakers at Compliance Week’s Women in Compliance Summit dispensed this career advice in more ways than one.
Posted inEthics & Culture
Women in Compliance Summit proves value of congregating, allyship
Compliance Week’s inaugural Women in Compliance Summit featured two days dedicated to elevating attendees and addressing some of the unique challenges women face in the profession.
Posted inAccounting & Auditing
FRC 2022/23 audit inspections: Big Four steady; BDO and Mazars improve
The U.K. Financial Reporting Council noted overall improvement in annual inspection and supervision results for the largest audit firms for a fourth consecutive year as part of its latest quality review.
Posted inEurope
Experts: Ways to stay ahead of generative AI risks
Not all companies can rely on bans or restrictions to employee use of generative artificial intelligence like ChatGPT. Instead of telling people what they can’t do, focus on what they can do.
Posted inEthics & Culture
Creating impactful compliance training
Speakers as part of a webinar hosted by the International Compliance Association discuss practical tips for engaging learners via compliance training beyond the traditional tick-box approach.