Compliance front and center
The SEC and Justice Department have made it clear that it will no longer be adequate for companies merely to have a compliance program in place; it must actually be taken seriously from within and given the power and resources to do its job. Tom Fox explores.
Related articles
-
News BriefJudge reinstates fired CPSC commissioners in latest battle over government cuts
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
-
PremiumUK’s Failure to Prevent Fraud law may expose firms to unlimited fines and prosecution, says Moody’s compliance risk expert
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
-
News BriefVenture capital firm self-reports sanctions violations of M&A target to DOJ, receives declination
After self-reporting that a recently purchased subsidiary broke U.S. sanctions and export control laws, a Texas-based venture capital fund will receive no penalty from the U.S. Department of Justice.