All articles by Jaclyn Jaeger – Page 57
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Blog
Goldman Sachs offers details of 1MDB probe
Goldman Sachs disclosed has received subpoenas and requests for documents and information from various governmental and regulatory bodies and self-regulatory organizations as part of investigations and reviews relating to financing transactions and other matters involving 1MDB, Malaysian government’s sovereign wealth fund.
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Blog
MoneyGram to forfeit $125M for AML compliance lapses; DPA extended
MoneyGram on Nov. 8 entered into agreements with the U.S. Department of Justice and the Federal Trade Commission concerning previously disclosed compliance failures that resulted in a widespread money-laundering fraud scheme.
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ArticleCCO salary trends 2018: Industrial, manufacturing lead way
BarkerGilmore’s 2018 Compliance Compensation Report offers benchmarking data and a glimpse into salary trends for both chief compliance officers and employers.
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Blog
Citibank to pay $38.7M for improper handling of ADRs
Citibank has agreed to pay $38.7 million to settle charges of improper handling of “pre-released” American Depositary Receipts, the Securities and Exchange Commission announced on Nov. 7.
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Blog
Walmart reaches proposed class-action settlement for $160M
Walmart has reached a proposed $160 million settlement with the City of Pontiac General Employees’ Retirement System in a securities fraud class-action lawsuit concerning a long-running investigation into violations of the Foreign Corrupt Practices Act.
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Blog
Capital One pays $100M for AML compliance deficiencies
The Office of the Comptroller of the Currency has assessed a $100 million civil money penalty against Capital One and Capital One Bank for deficiencies in the financial concern’s Bank Secrecy Act/Anti-Money Laundering program.
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Blog
Survey: Financial firms looking for communications risks all wrong
A new survey finds that compliance professionals in the financial services industry are not keeping pace with their retention and supervision efforts, particularly as a growing, younger workforce relies on expanding, mobile-friendly channels, such as social media and text messaging.
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ArticleA wake-up call in cyber supply-chain risk
Recent reports of a massive cyber-supply chain attack by Chinese spies on several U.S. companies’ servers have companies stressing about their own supply chain vulnerabilities.
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Blog
OECD to Mexico: Increase foreign bribery enforcement
Mexico needs to give more priority to foreign bribery enforcement, according to the Organization for Economic Cooperation and Development in its Phase 4 evaluation of Mexico’s implementation of the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and related instruments.
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ArticleA compliance readiness plan for ‘NAFTA 2.0’
The United States, Mexico, and Canada have reached a long-awaited revamped trade agreement, which goes by the moniker “NAFTA 2.0.” The pact portends significant changes to the global trade compliance space.
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BDO survey: Boards strive to keep pace with digital transformation
Digital transformation initiatives are making their way to the top of boardroom agendas, according to findings from a new cyber-governance survey.
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Blog
Mashreq responds to NYDFS consent order
Mashreqbank has issued a statement in response to its consent order reached with the New York State Department of Financial Services on Oct 18 for violations of U.S. Bank Secrecy Act and Anti-Money Laundering laws in the New York branch’s U.S. dollar clearing operations.
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BlogOFAC takes action against ‘vast network’ of ‘Specially Designated Global Terrorists’
The U.S. Department of Treasury’s Office of Foreign Assets Control on Oct. 16 took action against a vast network of Iranian entities for providing financial support to the Basij Resistance Force, a paramilitary force that recruits, trains, and deploys child soldiers.
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Blog
OFAC sanctions Iraq-based money services business
The U.S. Department of the Treasury’s Office of Foreign Assets Control imposed sanctions on Afaq Dubai, an Iraq-based money services business that has been moving money for the Islamic State of Iraq and Syria (ISIS).
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Article
Best practices in third-party risk management
NAVEX Global’s fourth annual third-party risk management benchmark report offers risk and compliance officers a glimpse at how their third-party risk management programs stack up against their peers.
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Blog
Criminal Division does an about-face on hiring a compliance counsel
The Department of Justice has scrapped its decision to hire another compliance counsel and instead announced a new, agency-wide approach to compliance oversight.
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Blog
A look at the new corporate monitorship policy
The Department of Justice on Oct. 11 issued revised guidance to establish standards, policies, and procedures for the selection of monitors in matters being handled by Criminal Division attorneys. The new guidance further refines the factors that go into the determination of whether a monitor is needed and clarifies and ...
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Blog
SNC-Lavalin: Canadian authorities reject plea deal
Engineering and construction company SNC-Lavalin has been advised by the Director of the Public Prosecution Service of Canada (DPPSC) that, at this time, it will not “invite” the company to negotiate a deferred prosecution agreement.
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Blog
German DPAs begin random GDPR examinations
The Data Protection Authority of the German state of Lower Saxony recently began random examinations into how well companies are implementing the EU’s General Data Protection Regulations. Compliance officers of U.S. companies with operations in Germany should be on alert.
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Article
The ‘Weinstein Clause’: M&A deals in the #MeToo era
A CW analysis identified 15 M&A deals over the past eight months in which firms protected themselves in writing from sexual harassment allegations. Known as the “Weinstein Clause,” these protections still don't address the heart of the matter: corporate culture.