The year Revathi Advaithi came on board as chief executive officer of Flex proved to be a hinge point for the global manufacturer’s sustainability strategy as it set science-based targets to hit by 2030.
Third Party Risk
Posted inRisk Management
Canada approves supply chain law for large companies
Large Canadian businesses must meet new supply chain rules starting in January that are designed to prevent products tainted by forced and child labor from entering the country.
Posted inRisk Management
Lawmakers pressure SEC to examine Shein’s sourcing practices before IPO
Two dozen lawmakers have demanded the Securities and Exchange Commission require an independent third party to verify fast-fashion retailer Shein does not use Uyghur forced labor before allowing it to go public.
Posted inRegulatory Enforcement
BIS updates voluntary self-disclosure policy to punish not coming forward
The Commerce Department’s Bureau of Industry and Security updated its guidelines to further clarify the advantages of voluntary self-disclosure to the agency when export control violations are uncovered.
Posted inData Privacy
How to avoid pitfalls of scaling business with generative artificial intelligence
Generative AI has the potential to be as game-changing for business and society as the internet, social media, and mobile phones were. At the moment, however, the risks seem to outweigh the rewards.
Posted inData Privacy
Alleged fraudster cited privacy in duping JPMorgan into $175M merger
Charlie Javice and her startup Frank allegedly convinced the country’s largest bank to pay $175 million for what largely amounted to a list of fake college students. The apparent due diligence failures by JPMorgan Chase offer a cautionary tale to compliance professionals.
Posted inRegulatory Enforcement
Labcorp to pay $2.1M in third party overbilling case
Laboratory Corporation of America agreed to pay $2.1 million to settle Department of Justice allegations the company overbilled the Department of Defense for genetic tests performed by a third party.
Posted inData Privacy
Survey: Tech key to compliance in changing data privacy landscape
Respondents to a survey from Compliance Week and Exterro largely said they were confident their organizations are meeting regulatory requirements regarding data privacy despite evidence their data retention policies and procedures are outdated.
Posted inRisk Management
Fed governor teases new TPRM guidance for banks
The Federal Reserve and other U.S. banking agencies are working to develop joint guidance to clarify regulatory expectations around third-party risk management, according to Fed Governor Michelle Bowman.
Posted inRegulatory Enforcement
Investment adviser fined $50K for compliance lapses following founder/CCO’s death
E. Magnus Oppenheim & Co. must pay $50,000 and hire an independent compliance consultant to settle Securities and Exchange Commission charges of failing to implement compliance policies and procedures following the death of its founder and CCO.
