All articles by Jaclyn Jaeger – Page 51
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ArticleFCA regulation now in effect for claims management companies
The U.K. Financial Conduct Authority has issued a reminder for the claims management industry: As of 1 April, all claims management companies in England, Scotland, and Wales will have to demonstrate that they meet and maintain minimum standards set by the FCA.
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ArticleGuarding the gatekeeper
Gatekeepers who have firsthand knowledge of corporate wrongdoing should be entitled to the same legal protections afforded to any other whistleblower.
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ArticleFCA fines Goldman Sachs £34.3M for transaction reporting failures
Compliance officers in the financial services industry can learn a lot from the failings of Goldman Sachs, which was fined £34.3 million (U.S. $45 million) by the U.K. Financial Conduct Authority for failing to provide accurate and timely reporting relating to 220 million transaction reports over a period of a ...
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ArticleAnatomy of a cryptocurrency pyramid scheme
Much has been discussed about the business risks posed by cryptocurrency. Now, risk and compliance professionals have a real-life cryptocurrency pyramid scheme with which to cite.
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ArticleTroika Laundromat reveals the gaps in AML compliance
A recent report from several investigative journalists details the AML scandal behind Troika Dialog, once Russia’s largest private investment bank, and is just one small look into the much bigger problem of corruption across the globe.
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ArticleFresenius Medical Care to pay $231M to resolve FCPA case
German healthcare company Fresenius Medical Care reached a $231 million settlement with U.S. authorities for violations of the Foreign Corrupt Practices Act for participating in various corrupt schemes across multiple countries that went undetected for more than a decade.
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What Swedbank is saying about its multiple investigations
It has been a tumultuous few weeks for Swedbank as it fends off several investigations, including for money laundering and insider trading, resulting in the dismissal of its chief executive officer.
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World Bank Group debars for one year Vietnamese water and sewerage company
The World Bank has imposed a one-year debarment on Vietnamese, state-owned water and sewerage company Vietnam Water and Environment Investment Corporation – JSC.
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A closer look at the revised FCPA Corporate Enforcement Policy
The Department of Justice in recent months has made several notable revisions to its FCPA Corporate Enforcement Policy surrounding M&A, messaging apps, and much more.
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ArticleSEC awards $50M to two whistleblowers
The Securities and Exchange Commission announced awards totaling $50 million to two whistleblowers whose high-quality information assisted the agency in bringing a successful enforcement action.
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Merrill Lynch to pay $8M for improper handling of ADRs
The Securities and Exchange Commission on March 22 announced that Merrill Lynch, Pierce, Fenner & Smith will pay over $8 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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ArticleWhy ‘moral leadership’ matters, and how to demonstrate it
Most employees believe moral leadership leads to better business results, but few believe senior leaders consistently demonstrate those qualities. That’s according to the findings of a new report, “The State of Moral Leadership in Business 2019,” conducted by ethics and compliance advisory firm LRN.
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Nokia discloses Alcatel-Lucent compliance issues
Following its 2016 acquisition of Paris-based telecommunications company Alcatel-Lucent, Nokia disclosed in a filing with the Securities and Exchange Commission that it has “been made aware of certain practices relating to compliance issues at the former Alcatel-Lucent business that have raised concerns.”
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ArticleHow audit firms are polishing their images
Audit deficiencies are just part of the picture when it comes to the reputational damage suffered by nearly every big firm. Jaclyn Jaeger looks at how the big audit firms are tackling bad marks from the PCAOB.
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Anatomy of a college cheating scandal, and the resolve to fix it
In response to the nationwide college admissions scandal, victimized universities are speaking out and sharing the steps they’ve taken to stop similar behavior from happening in the future.
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ArticleWhy companies replace their external auditors
Analyzing public company regulatory filings, we explore the factors behind why companies change external auditors.
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ArticleA global look at anti-bribery enforcement activity
TRACE International’s 2018 Global Enforcement Report serves as an insightful resource for companies seeking information on which countries are enforcing anti-bribery laws and which countries are beleaguered by bribery and corruption issues.
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ArticleFCA fines UBS £27.6M for transaction reporting failures
The U.K. Financial Conduct Authority has fined UBS £27.6 million (U.S. $36.6 million) for failings relating to 135.8 million transaction reports.
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SEC charges Volkswagen in emissions-cheating scandal
The SEC has charged Volkswagen, two of its subsidiaries, and its former CEO, Martin Winterkorn, with defrauding U.S. investors by making deceptive claims about the environmental impact of the company’s “clean diesel” fleet.
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Tesla names new chief accounting officer
Electric car maker Tesla disclosed in a March 13 securities filing that it has appointed Vaibhav Taneja as chief accounting officer, adding to the company’s long list of sudden executive departures and appointments.