All articles by Jaclyn Jaeger – Page 64
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Blog
Chief compliance officer, two broker-dealers charged with AML offenses
The Securities and Exchange Commission on May 16 announced that it settled charges against broker-dealers Chardan Capital Markets and Industrial and Commercial Bank of China Financial Services for failing to report suspicious sales of billions of penny stock shares. Chardan’s chief compliance officer was also charged.
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Article
Rabobank uses Latin to help with GDPR compliance
Jaclyn Jaeger talks with Peter Claassen of Rabobank about the bank’s collaboration with IBM to use cryptographic pseudonyms to anonymize customer information for GDPR compliance.
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Article
Experts spotlight trends in FCPA self-disclosures and enforcement
Current and former enforcement officials took part in a candid debate last week about the real-world implications of recent pronouncements made by the Department of Justice and how directors and officers are responding.
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Blog
RBS reaches $4.9B tentative settlement in mortgage-backed securities case
The Royal Bank of Scotland Group announced that it has reached a tentative settlement of US$4.9 billion (£3.6 billion) with the U.S. Department of Justice concerning the sale of toxic residential mortgage-backed securities between 2005 and 2007.
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Blog
Best practices from SEC enforcement official on Wells meeting communication
Prudent defense counsel will want to heed the advice of SEC Co-Director of the Division of Enforcement Steven Peikin, who discussed in broad detail what best-practice techniques make for productive and effective communication with SEC staff during Wells meetings.
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Blog
New Justice Dept. policy encourages coordination
The Department of Justice has announced a new policy that encourages coordination internally and with other enforcement agencies when imposing multiple penalties for the same conduct. The move is another step in the Department’s efforts toward greater transparency and consistency in corporate enforcement.
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Blog
Vantage Drilling reaches ‘agreement in principle’ with SEC in FCPA case
Offshore drilling contractor Vantage Drilling Co. has “reached an agreement in principle” with the Securities and Exchange Commission regarding a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.
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Blog
Trump withdraws United States from Iran nuclear deal
President Trump on Tuesday announced the United States was pulling out of the Iran nuclear deal and will reinstate sanctions on the Iranian regime.
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Article
Lessons to be learned from first declination under new FCPA policy
The first declination under the new FCPA Corporate Enforcement Policy is not exactly a home run, but it does offer compliance officers a litany of considerations in addressing FCPA matters of their own.
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ArticleReducing fourth-party risk with eyes wide open
Recent analyses show that many companies don’t have adequate visibility into their third parties, and even less so their third parties’ third parties and beyond (so-called Nth parties).
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Blog
Ex-Volkswagen CEO indicted over emissions-cheating scandal
An indictment, unsealed Thursday, charges former Volkswagen CEO Martin Winterkorn with conspiracy and wire fraud relating to the company’s long-running emissions-cheating scandal.
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Blog
Clear Channel hints to potential FCPA violations
Media company Clear Channel Outdoor disclosed that it has advised U.S. authorities about accounting discrepancies caused by the misappropriation of funds at its Chinese subsidiary, in possible violation of the Foreign Corrupt Practices Act.
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Article
Interpreting the new NIST Cybersecurity Framework
The National Institute of Standards and Technology has published an update to its widely adopted Cybersecurity Framework, implementing significant revisions.
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ArticleForrest Deegan: The great collaborator
When Forrest Deegan joined Abercrombie & Fitch Co. in 2012 as its first-ever director of compliance, he never could have imagined the many unexpected twists and turns that would come his way.
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Blog
FCA publishes second ‘5 Conduct Questions’ feedback report
The U.K. Financial Conduct has published its second industry feedback report on its 5 Conduct Questions, a key component of its wholesale banking supervision. The new report, the FCA said, includes details on “how banks can encourage staff in front, middle, and back office, and control/support functions, to be responsible ...
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Blog
Panasonic must pay $280M to resolve FCPA charges
Panasonic Avionics has agreed to pay more than $280 million to resolve civil and criminal charges arising out of a scheme to retain consultants for improper purposes and conceal payments to third-party sales agents.
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Blog
EU and Mexico reach new trade agreement
The European Union and Mexico reached a new agreement on trade, as part of a broader, modernized EU-Mexico Global Agreement. Practically all trade in goods between the EU and Mexico will now be duty-free, including in the agricultural sector.
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Article
More companies tackling ESG disclosure as a business imperative
A debate about environmental, social, and governance (ESG) issues took center stage when the Department of Labor downgraded the economic relevance of ESG investments—just as companies and investors gathered at an event to discuss their importance.
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ArticleBen Bard: Crusader of compliance
When Ben Bard was brought on as Archer Daniels Midland’s global CCO in 2014, it wasn’t just he who was embracing a new opportunity; it meant a fresh start for the company, as well.
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Blog
Yahoo to pay $35M for failing to disclose massive cyber-security breach
The SEC on Tuesday announced that Altaba—the company formerly known as Yahoo—has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to disclose one of the largest data breaches in history, in which hackers stole personal data relating to at least 500 million ...