All Finance articles – Page 49
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ArticleAnatomy of an international, $194M ‘pump-and-dump’
The Securities and Exchange Commission and Department of Justice separately announced charges against individuals who reaped more than $194 million in illicit proceeds through an international stock manipulation scheme.
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ArticleBreaking the glass ceiling in ethics and compliance
Jane Levine, chief compliance officer at DailyPay, shares three suggestions for ensuring women are empowered within the ethics and compliance profession.
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ArticleFinCEN advisory highlights Russian kleptocracy concerns
The Financial Crimes Enforcement Network issued an advisory offering red flag indicators of kleptocracy and foreign corruption, noting Russia as a country of “particular concern.”
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ArticleCFPB sues ‘repeat offender’ TransUnion over consent order violations
The Consumer Financial Protection Bureau filed a lawsuit in federal court charging TransUnion, two of its subsidiaries, and one of its longtime executives with violating a 2017 consent order and other consumer financial protection laws.
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Open Mortgage names first chief compliance officer
Open Mortgage, a multichannel mortgage lender, appointed Andrea Easter as its first chief compliance officer.
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ArticleReport: Pandemic fuels goodwill impairment spike in 2020
Goodwill impairment recorded by U.S. public companies more than doubled in 2020, but the total still fell short of the figure observed at the onset of the 2008 financial crisis, according to the latest annual report from Kroll.
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ArticleFive considerations for a transaction monitoring system
Transaction monitoring is an area constantly in the spotlight. David Povey of the International Compliance Association explains five key monitoring considerations for anyone managing or working within financial institutions.
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ArticleCash App breached by former employee; 8.2M affected
Approximately 8.2 million U.S. customers of Cash App Investing have been notified of a data breach carried out by a former employee of the mobile payment service provider.
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JST Capital hires former CCO from New York Fed
Martin Grant, the former chief compliance and ethics officer of the Federal Reserve Bank of New York, has joined financial services firm JST Capital as its new global head of regulatory affairs and integrity.
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Geneva Financial names chief compliance officer
Geneva Financial, a direct mortgage lender, announced Kelly Singh has joined its leadership team as chief compliance officer. In her role, Singh will drive quality control and compliance for the company’s mortgage operations.
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ArticleGreenwashing under the spotlight
Financial institutions have outlined commitments to reduce their CO2 emissions, though many observers have noted a disconnect between what institutions are saying about climate change and what they are doing about it.
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ArticleSenators call for close of private investment AML/CFT loophole
Sens. Sheldon Whitehouse (D-R.I.) and Elizabeth Warren (D-Mass.) called on the Treasury Department and SEC to close a “disconcerting loophole” that exempts hedge funds and other private investment firms from reporting suspicious activity within their transactions to authorities.
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Ex-chief compliance officer pleads guilty in Ponzi scheme
Vania May Bell, the former chief compliance officer and controller of Executive Compensation Planners, pleaded guilty for participating in a Ponzi scheme with her father that defrauded clients out of more than $11 million.
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ArticleTRACE: U.S. bribery enforcement continued decline in 2021
The number of U.S. foreign bribery enforcement actions slowed notably in 2021, while the overall pace of transnational anti-bribery enforcement actions and investigations lagged worldwide, according to TRACE International’s latest enforcement report.
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ArticleFINRA stresses supervisory authority as key to CCO liability cases
Whether chief compliance officers have supervisory authority is key to the Financial Industry Regulatory Authority’s determination of CCO liability, the organization clarified in a regulatory notice.
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ArticleMoneyGram, NYDFS agree on $8.25M settlement for supervision lapses
MoneyGram will pay $8.25 million as part of a settlement with the New York State Department of Financial Services for supervision failures regarding local agents processing suspicious transactions in China.
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ArticleSEC staff warn broker-dealers ‘remain vigilant’ amid market volatility
Amid Russia’s invasion of Ukraine, SEC staff issued a statement warning broker-dealers and other market participants to “remain vigilant to market and counterparty risks that may surface during periods of heightened volatility and global uncertainties.”
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ArticleGrowing list of companies halting Russian operations
As the Russia-Ukraine crisis unfolds, companies around the world have announced changes to their supply chains to reduce their footprint in Russia. Compliance Week looks at how businesses across multiple industries are responding.
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iCreditWorks hires chief compliance officer
iCreditWorks, a U.S.-based fintech platform, announced Rajiv Varshney has been appointed chief compliance officer and will join the executive team.
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Lincoln Financial adds chief accounting officer
Lincoln Financial Group announced Adam Cohen has been named chief accounting officer.