All articles by Jaclyn Jaeger – Page 60
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Blog
Treasury targets Russian shipping companies
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced that it has targeted Russian shipping firms for violating North Korea-related United Nations Security Council Resolutions.
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Blog
New Zealand’s financial regulator to financial services firms: Culture is lacking
New Zealand’s Financial Markets Authority, the government agency responsible for financial regulation, on Aug. 9 set out its work plan for the year ahead, as the conduct and culture of the country's financial services industry comes under increased scrutiny.
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Danske Bank case illustrates poor anti-money laundering practices
There seems to be no end to the AML woes hounding Danske Bank. Most recently, Denmark’s financial crime regulator announced a pending investigation into the beleaguered bank for possible money laundering violations related to its Estonian branch.
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Article
Reading the tea leaves of the Market Integrity and Consumer Fraud Task Force
Compliance, risk, and legal professionals that are not already familiar with the new Task Force on Market Integrity and Consumer Fraud should get up to speed, and fast.
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ArticleAs technology evolves, so do accounting and finance leaders
A new study from Robert Half and the Financial Executives Research Foundation reveals how evolving technology is rapidly enhancing the accounting and finance functions.
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World Bank debars Chinese information-technology company
The World Bank on Aug. 1 announced the 15-month debarment of China-based Jiangsu Zhidehuatong Information Technology in connection with fraudulent practices as part of the Hubei Xiangyang Urban Transport Project in China.
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24 attorneys general push for shell company transparency
Washington Attorney General Bob Ferguson has led a bipartisan group of 24 attorneys general to urge leadership of the House Financial Services Committee to advance legislation improving transparency of shell corporations by requiring them to disclose who controls and profits from their activities.
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Blog
Wells Fargo hit with $2B penalty for misrepresenting quality of loans used in RMBS
The Department of Justice on Aug. 1 announced that Wells Fargo and several of its affiliates will pay a $2.09 billion civil penalty based on the bank’s alleged origination and sale of residential mortgage loans that it knew contained misstated income information and did not meet the quality that Wells ...
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Article
Implementing the FRC’s ‘Guidance on the Strategic Report’
The Financial Reporting Council has published revised guidance addressing strategic reports, aiming to help organizations make such reports more informative and relevant to stakeholders.
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Blog
Justice Department signs addendum to NPA with Bank Lombard Odier
The Department of Justice has signed an addendum to a non-prosecution agreement with Bank Lombard Odier of Zurich Switzerland. The original NPA was signed on Dec. 31, 2015.
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Article
Government clears way for FinTech firms to compete with banks
In separate developments announced July 31, the U.S. Department of Treasury and the Office of the Comptroller of the Currency paved the way for FinTech firms and other non-banks to more easily compete with traditional banks. Once again, opponents are threatening legal action.
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ArticleGlobal Slavery Index: U.S. has most at-risk imports among G20
The United States is the world’s largest importer of goods at risk of being produced through modern slavery among G20 countries, followed by Japan, Germany, the United Kingdom, and France, according to the 2018 Global Slavery Index.
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Blog
SBM Offshore signs leniency agreement with Brazilian authorities, Petrobras
Dutch oil and gas services company SBM Offshore said it has reached a leniency agreement with Brazilian authorities to resolve allegations relating to the Petrobras bribery scandal.
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Blog
Advisory warns companies about sanctions evasion tactics used by North Korea
The U.S. government has issued an advisory highlighting the sanctions evasion tactics used by North Korea that could expose companies—including manufacturers, buyers, and service providers—to compliance risks under U.S. or United Nations sanctions authorities.
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Blog
New appointments at the SEC
The SEC has announced new appointments to the Office of Compliance Inspections and Examinations, as well to the Division of Trading and Markets.
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Blog
The compliance role in mergers and acquisitions
Deputy Assistant Attorney General Matthew Miner in recent remarks spoke about the Justice Department’s efforts to investigate and stamp out global corruption, particularly concerning mergers and acquisitions. He stressed the valuable role compliance officers play.
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Article
New index ranks countries by level of ‘compliance complexity’
Companies looking to expand their global footprint or invest for the first time in new, unfamiliar regions of the world may want to check out a new index that ranks countries by the complexity of their compliance requirements.
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Blog
Kristin Snyder named deputy director of OCIE
The Securities and Exchange Commission on July 25 announced that Kristin Snyder has been named deputy director of the agency’s Office of Compliance Inspections and Examinations.
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Article
Ethics training in the #MeToo era
NAVEX Global’s 2018 Ethics & Compliance Training Benchmark Report shows how the #MeToo movement has altered the ethics and compliance landscape in drastic ways.
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Blog
SEC data analysis tool uncovers insider trading by executive
A senior executive at Alliance Fiber Optic Products agreed to settle charges that he made nearly $200,000 in illicit profits by trading on inside information in advance of three disappointing earnings announcements by the company, the Securities and Exchange Commission announced on July 24.