The National Society of Compliance Professionals has drafted a framework that urges regulators to consider chief compliance officer liability more holistically, in the context of the compliance culture within a CCO’s firm.
Surveys & Benchmarking
Posted inAnti-Bribery
Report: FCPA investigations, enforcement actions hit 10-year lows in 2021
The number of enforcement actions brought under the Foreign Corrupt Practices Act in 2021 fell to the lowest total in a decade, according to a new report by the FCPA Clearinghouse at Stanford Law School.
Posted inData Privacy
Report: Financial services fines drop 49 percent in 2021
The value of penalties against global financial services firms in 2021 dropped to half the total levied in 2020, according to research by compliance technology provider Fenergo.
Posted inRisk Management
Report: Cryptocurrency-related crime reaches record $14B in 2021
The amount of illicit cryptocurrency transactions reached an all-time high in 2021 at $14 billion, according to a Chainalysis study due out next month. The rise coincides with significant increases in the overall volume of crypto transactions.
Posted inRisk Management
How to identify ultimate beneficial owners
As financial institutions continue to face enhanced public scrutiny and potential regulatory attention, it is important they allocate competent resources to their AML programs regarding beneficial ownership.
Posted inAccounting & Auditing
ISACA issues audit resources on SOX, VPNs, agile auditing
The ISACA, an international professional association focused on IT governance, released three new resources designed to assist audit professionals in enhancing their skills to meet the needs of the evolving audit landscape.
Posted inAccounting & Auditing
Cybersecurity trends continue in 2021 audit committee transparency report
The most dramatic increase in audit committee disclosures in proxy statements for the second consecutive year was in responsibility for cybersecurity risk oversight, according to the latest report from the Center for Audit Quality and Audit Analytics.
Posted inInternal Controls
Survey highlights need for better data integration between risk and compliance
A recent survey from Compliance Week and Riskonnect presents a compelling argument for companies to invest in bridging the gap between risk management and compliance data.
Posted inRisk Management
OCC guidance: Six principles for large banks managing climate risks
The Office of the Comptroller of the Currency published draft guidance for large banks to identify, measure, monitor, and control climate-related risks to ensure the safety and soundness of their institutions and the market.
Posted inRisk Management
TCFD recommendations more than building block for SEC climate disclosure rules?
SEC Chair Gary Gensler has hinted the agency’s highly anticipated climate-related disclosure rules will likely be pegged to an international framework, specifically mentioning the Task Force on Climate-Related Financial Disclosures. How can the TCFD help companies prepare for what’s ahead?
