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Citigroup chief compliance officer to retire
Citigroup Chief Compliance Officer Mark Carawan is set to retire after nearly nine years with the firm. Carawan will be replaced by Mary McNiff, the current chief executive officer of Citibank N.A.
SEC announces record whistleblower award of nearly $50M
The Securities and Exchange Commission announced its largest ever whistleblower award to a single individual at nearly $50 million while denying a second claimant a share of the bounty.
EDPB challenges Hungary’s GDPR suspension under Article 23
The European Data Protection Board will issue guidelines on the implementation of Article 23 of the GDPR after Hungary’s government used the article to suspend data subject rights until the end of its coronavirus state of emergency.
How to scour your organization for pandemic fraud risks
“Only when the tide goes out do you discover who’s been swimming naked,” said Warren Buffett. With the pandemic tide out, here are some related frauds that are likely already occurring that corporations should be watching for.
Law enforcement reform should take a cue from compliance
Just as companies must answer to their stakeholders, our public leaders and institutions need to be held more accountable to their constituents.
FASB finalizes leases, rev rec delays prompted by coronavirus
The Financial Accounting Standards Board finalized effective date delays of one year to standards affecting revenue recognition and leases in response to the coronavirus pandemic.
CFTC stresses clarity in revised civil monetary penalty guidance
The CFTC’s Division of Enforcement issued new civil monetary penalty guidance for the first time since publishing its penalty guidelines in 1994. The update is in line with recent efforts by the DOJ to crack down on commodities fraud.
Ericsson appoints DOJ-mandated compliance monitor
Ericsson announced the appointment of Andreas Pohlmann as its independent compliance monitor for the next three years in accordance with a deferred prosecution agreement reached with the Department of Justice over FCPA violations.