All articles by Jaclyn Jaeger – Page 46
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FDIC report: Five common consumer compliance issues
The FDIC recently issued the first edition of its “Consumer Compliance Supervisory Highlights” report, intended to enhance transparency around consumer compliance supervisory activities.
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Hong Kong’s SFC bans former Goldman Sachs officer for life
Hong Kong’s Securities and Futures Commission has banned Tim Leissner, a former participating managing director at Goldman Sachs (Asia), from re-entering the industry in connection with his crimes relating to 1MDB.
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ArticleSerco fined £19.2M over electronic tagging scandal
The U.K. Serious Fraud Office has approved in principle a deferred prosecution agreement with Serco Geografix for fraud and false accounting that would result in a fine of £19.2 million (U.S. $24.2 million).
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ArticleStudy: Financial firms don’t know what they don’t know on climate risks
Financial institutions still struggle with how to manage risks posed by climate change, according to a new report.
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ArticleFive ‘essential components’ of a sanctions compliance program
Chief compliance officers got some much-needed guidance on how to build a well-crafted sanctions compliance program thanks to the recent OFAC framework.
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ArticleCFTC issues joint $2M whistleblower award
The Commodity Futures Trading Commission announced on July 1 an award of $2 million to two “model whistleblowers” who provided the agency with “significant information” that prompted the CFTC to open an investigation.
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ArticleWhy CEOs today must be change leaders for social issues
The Wayfair walkout represents just the latest high-profile example of how social and policy issues continue to spill into the corporate ethics and compliance realm.
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State Street to pay $88.8M for mutual fund overcharges
State Street will pay $88.8 million to resolve charges with the SEC that it overcharged mutual funds and other registered investment company clients for expenses related to the firm’s custody of client assets.
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ArticleFTC expands scope of data security compliance requirements
The FTC is turning up the heat on the data security compliance requirements companies must meet in the event of an enforcement action following a data breach.
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UBS compliance officer convicted of insider trading
A London Southwark Crown Court jury on June 27 convicted two individuals—a senior compliance officer of UBS and a day trader of financial securities—and sentenced them to three years’ imprisonment for insider trading.
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Merrill Lynch to pay $25M to settle metals ‘spoofing’ claims
Merrill Lynch Commodities will pay a combined $25 million to resolve a government investigation into a multi-year scheme to mislead the market for precious metals futures contracts.
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Compliance lessons from Technip’s $301.3M global foreign bribery settlement
TechnipFMC and its wholly owned U.S. subsidiary Technip USA will pay a combined $301.3 million settlement to resolve foreign bribery charges with authorities in the United States and Brazil.
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ArticleCFTC issues reduced whistleblower award of $2.5M
The Commodity Futures Trading Commission has awarded a whistleblower $2.5 million for assisting it in an investigation, but the award could have been larger if the report was made sooner, the CFTC said.
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ArticleNew index assesses Latin America’s anti-corruption efforts
Chief compliance officers and chief risk officers will want to check out a new index that assesses Latin American countries’ ability to uncover, punish, and deter corruption.
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Airbus subsidiary at center of bribery probe to cease operations
A U.K. subsidiary of Airbus that has been at the center of a seven-year bribery investigation disclosed in an annual report that it will be ceasing business operations, meaning it could potentially avoid criminal charges in connection with the matter.
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ArticleSEC closes FCPA probe into Misonix
The SEC has closed its FCPA investigation into medical device company Misonix and will not be recommending an enforcement action, the company announced.
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ArticlePoll shows gaps in integrated risk management
Many organizations’ enterprise risk management capabilities aren’t as integrated as they need to be, leaving them vulnerable to legal, financial, regulatory, and reputational risks, according to a new GRC benchmark report.
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ArticleWalmart agrees to $282.7M FCPA resolution
Walmart has agreed to pay a combined total of $282.7 million to resolve a more than seven-year investigation resulting from violations of the Foreign Corrupt Practices Act.
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Maritime Anti-Corruption Network to develop ‘Global Port Integrity Index’
The Maritime Anti-Corruption Network has announced a new partnership with the Ministry of Foreign Affairs of Denmark to launch the first-ever “Global Port Integrity Index” and to scale up its collective action activities in West Africa.
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ArticleFTC warns of false compliance with EU-U.S. Privacy Shield
The Federal Trade Commission is warning over a dozen companies in the form of letters not to falsely claim participation in the EU-U.S. Privacy Shield program.