All articles by Jaclyn Jaeger – Page 71
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Blog
Former Embraer sales executive pleads guilty to foreign bribery
A former sales executive of Brazilian-based aircraft manufacturer Embraer pleaded guilty last week in connection with a scheme to pay bribes to a high-level foreign government official in exchange for assistance in securing Embraer’s sale of aircraft to Saudi Arabia’s national oil company.
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Swiss regulator: J.P. Morgan seriously breached AML regulations
The Swiss Financial Market Supervisory Authority, FINMA, concluded its enforcement proceedings against J.P. Morgan Chase, saying the bank "seriously breached" anti-money laundering regulations by failing to screen adequately transactions and business relationships booked in Switzerland associated with the Malaysian sovereign wealth fund 1MDB.
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FINRA fines Raymond James $2M for flawed e-mail monitoring system
The Financial Industry Regulatory Authority has fined Raymond James Financial Services $2 million for failing to maintain reasonably designed supervisory systems and procedures for reviewing e-mail communications, serving as a warning to compliance officers to review FINRA's guidance concerning the review and supervision of electronic communications.
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Keppel Offshore to pay $422M to resolve bribery case
Singapore-based Keppel Offshore & Marine and its wholly owned U.S. subsidiary will pay a combined $422 million criminal penalty to resolve charges with authorities in the United States, Brazil, and Singapore arising from a decade-long to pay millions of dollars in bribes to officials in Brazil.
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Bilfinger executives share lessons learned from FCPA case
Two Bilfinger executives share their lessons learned following Bilfinger’s $32M criminal penalty and DPA with the Justice Department in 2013 for FCPA violations.
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As the FCPA turns 40, compliance officers reflect on its impact
Dec. 19 marks the 40th anniversary of the Foreign Corrupt Practices Act, prompting compliance officers to take stock of the overall effect FCPA enforcement has had on anti-corruption compliance programs.
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Unsealed letter: Uber engaged in fraud, theft, espionage, more
Uber’s former manager of global intelligence, Richard Jacobs, claims to have observed a laundry list of illegal activities at Uber, including fraud, theft, espionage, and more.
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CFTC launches virtual currency resource web page
The Commodity Futures Trading Commission announced the launch of a new virtual currency resource Web page, a central repository for CFTC-produced resources about virtual currency and is designed to educate and inform the public about these commodities, including the possible risks associated with investing or speculating in virtual currencies or ...
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CFTC issues guidance on CTA registration requirements under MiFID II
The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight this week issued interpretative guidance, clarifying commodity trading advisor registration requirements resulting from the European Union’s MiFID II research compensation provisions for investment managers.
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Atea Denmark attains ISO 37001 certification
Atea Denmark, a supplier of IT infrastructure and system integration in the Nordic and Baltic regions, has become the first organization in Denmark to attain the highest international anti-bribery certification, ISO 37001 – Anti-bribery management systems.
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ArticleCompliance salary report shows budget, experience matter
Chief compliance officers wondering how their annual salaries stack up against their peers will want to check out a new salary benchmark report published by the Society of Corporate Compliance and Ethics and the Health Care Compliance Association.
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Article
Going back to basics with whistleblowers
On a fundamental level, people want to know that they are being taken seriously, which is why it is so important that whistleblower policies work in practice, and not just on paper.
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How the CFTC oversees bitcoin futures
Three exchanges regulated by the Commodity Futures Trading Commission this month self-certified new contracts for bitcoin futures products. Sequentially, the CFTC issued a statement on the self-certification of bitcoin products by these exchanges.
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Blog
Ex-Volkswagen executive gets 7 years in emissions cheating case
Oliver Schmidt, the former general manager of Volkswagen AG’s U.S. Environment and Engineering Office, has been sentenced to seven years in prison after pleading guilty to his role in the company’s long-running emissions cheating scandal.
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Financial Conduct Authority fines Bluefin £4m for misleading customers
The Financial Conduct Authority today fined Bluefin Insurance Services Limited £4 million for having inadequate systems and controls and failing to provide information to its customers about Bluefin’s independence in a way that was clear, fair, and not misleading.
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First sport integrity hotline established in United States and Canada
The Special Investigations Unit of the International Centre for Sport Security has announced the establishment of a confidential Sport Integrity Hotline to report misconduct and sport integrity issues in the United States and Canada.
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World Bank: Sediver SAS debarred for two years
The World Bank Group today announced the debarment for two years of Sediver SAS, a Paris-based manufacturing company for power transmission components, in connection to sanctionable misconduct under the Southern Africa Power Market Project in the Democratic Republic of the Congo.
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NLRB General Counsel memo a boon for employers
Newly appointed National Labor Relations Board General Counsel Peter Robb this week issued a memorandum encompassing at a high level his initial agenda as General Counsel, much of which should come as welcome news to employers.
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SEC awards company insider $4.1M for whistleblower tip
The SEC today announced an award of more than $4.1 million to a former company insider who alerted the agency to a widespread, multi-year securities law violation and continued to provide important information and assistance throughout the SEC’s investigation, making it the third whistleblower award in the past week.
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Blog
“FinCEN Exchange” seeks to enhance public-private information-sharing
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network has launched the FinCEN Exchange program, intended to enhance information-sharing with financial institutions.