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Karma Wallet names ex-Visa sustainability chief as strategic adviser

2024-06-14T22:11:00+01:00By

Fintech company Karma Wallet announced the appointment of Douglas Sabo, former Visa chief sustainability officer, as a strategic adviser.

Blog

BBB National Programs adds general counsel

2024-06-14T22:09:00+01:00By

BBB National Programs, the nonprofit home of independent industry self-regulation in the United States, announced the appointment of Amy Steacy to the newly created role of general counsel.

Blog

SPX Technologies announce legal chief

2024-06-14T21:11:00+01:00By

SPX Technologies announced the appointment of Cherée Johnson as its new chief legal officer and secretary.

FinTech

News Brief

Evolve Bank ordered by Fed to address AML, sanctions lapses

2024-06-14T20:37:00+01:00By

The Federal Reserve Board ordered an Arkansas bank that partnered with numerous financial technology companies to correct deficiencies in its anti-money laundering, sanctions, risk management, and consumer compliance programs.

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‘We have to stop shrinking ourselves’: Strategies for confronting BIPOC bias

2024-06-14T12:08:00+01:00By

Attendees at Compliance Week’s Women in Compliance Summit discussed strategies for confronting bias against Black, indigenous, and people of color professional women working in compliance and risk.

Christy Goldsmith Romero

News Brief

​Biden nominates CFTC’s Goldsmith Romero to head FDIC

2024-06-13T19:12:00+01:00By

President Joe Biden selected a commissioner at the Commodity Futures Trading Commission as his preferred choice to lead the Federal Deposit Insurance Corporation in the aftermath of its toxic workplace culture scandal.

SEC building

News Brief

Anson Funds, affiliate to pay $2.25M for fund disclosure violations

2024-06-13T16:54:00+01:00By

Registered investment adviser Anson Funds Management and exempt reporting adviser Anson Advisers will combine to pay more than $2 million for allegedly misleading investors about their short fund strategy and related recordkeeping violations.

Blog

STIIIZY appoints general counsel

2024-06-13T14:59:00+01:00By

Cannabis brand STIIIZY announced the appointment of Tony Shin as general counsel.

Blog

American Water names general counsel

2024-06-13T14:58:00+01:00By

American Water announced Stacy Mitchell was named executive vice president and general counsel.

Blog

Kimberly-Clark appoints chief sustainability officer

2024-06-13T14:56:00+01:00By

Consumer goods and personal care corporation Kimberly-Clark appointed Lisa Morden to the role of chief sustainability officer.

Blog

Seagate announces chief legal officer

2024-06-13T14:55:00+01:00By

Seagate Technology Holdings announced the appointment of Jim Lee as senior vice president, chief legal officer and corporate secretary.

Blog

GT Independence announces compliance chief

2024-06-13T14:54:00+01:00By

Financial management services company GT Independence announced Megan Owen has stepped into the role of chief compliance officer.

AI Law

News Brief

Former CEO of AI recruiter Joonko charged with $27M fraud

2024-06-12T22:14:00+01:00By

The former chief executive officer of closed AI recruitment startup Joonko faces up to 40 years in prison and the potential of penalties levied by the Securities and Exchange Commission for allegedly defrauding investors of more than $27 million.

Financial Crimes 2024 Axelrod

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BIS’s Axelrod makes plea to financial services: ‘We want to work with you’

2024-06-12T21:47:00+01:00By

Matthew Axelrod, assistant secretary for export enforcement at the Bureau of Industry and Security, addressed efforts to reach financial services firms, working with the Financial Crimes Enforcement Network, and more during his fireside chat at CW’s Financial Crimes Summit.

Financial Crimes 2024 Pham

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CFTC’s Pham critical of agency stances on CCO liability, self-disclosure credit

2024-06-12T21:18:00+01:00By

Caroline Pham, a commissioner at the Commodity Futures Trading Commission, said compliance officers have a lot to worry about if they or their firms are subject to CFTC enforcement during her fireside chat at CW’s Financial Crimes Summit.

ChinaCargoContainer

News Brief

Additions to UFLPA Entity List signal seafood supply chain risks

2024-06-12T18:23:00+01:00By

The U.S. Department of Homeland Security added three China-based entities across the seafood, aluminum, and footwear industries to the Uyghur Forced Labor Prevention Act Entity List.

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Panelists break down robust sanctions landscape at TPRM Summit

2024-06-12T02:35:00+01:00By

Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.

DOJ

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Cerebral set to pay $7M over alleged patient data sharing

2024-06-12T02:05:00+01:00By

The Department of Justice and Federal Trade Commission proposed telehealth company Cerebral pay a total of $7 million for its alleged sharing of patient data and deceptive business practices in violation of the FTC Act.

Accounting trends

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PCAOB Chair Williams appointed to second term

2024-06-12T01:46:00+01:00By

Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.

CityMD

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CityMD to pay $12M over Covid-19 false claims

2024-06-10T16:01:00+01:00By

CityMD, the largest provider of urgent care practices across New York and New Jersey, agreed to pay approximately $12 million as part of a settlement with the Department of Justice addressing the alleged submission of false claims for payment for Covid-19 testing.

Blog

Black & Veatch appoints general counsel, compliance chief

2024-06-10T13:49:00+01:00By

Global sustainability and critical infrastructure provider Black & Veatch has appointed Steve Meck as general counsel and chief compliance officer.

Blog

Paycom promotes GC to legal chief

2024-06-10T13:47:00+01:00By

Paycom announced that Matt Paque, who previously served as general counsel, has been promoted to chief legal officer.

Blog

Cover Whale names first general counsel

2024-06-10T13:36:00+01:00By

Cover Whale Insurance Solutions announced the appointment of Rachael Dugan as its first general counsel and corporate secretary.

Blog

Alkeus Pharmaceuticals appoints legal chief

2024-06-10T13:35:00+01:00By

Alkeus Pharmaceuticals announced that Eric Trachtenberg has joined the company as chief legal officer.

Bank AML

News Brief

FinCEN BSA data: Fraud, money laundering top suspicious activities

2024-06-10T09:43:00+01:00By

The Financial Crimes Enforcement Network published its latest collection of Bank Secrecy Act data, including number and type of suspicious activity reports.

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Experts: AI risk mitigation second nature for compliance professionals

2024-06-07T22:34:00+01:00By

Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.

Artificial intelligence

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OCC’s Hsu encourages banks to apply guardrails to AI use

2024-06-07T21:51:00+01:00By

Warning of an “eventual reckoning” on artificial intelligence use by financial institutions, the acting head of the Office of the Comptroller of the Currency said the industry should learn lessons on how similar disruptive technologies evolved from being helpful to dangerous.

SEC

News Brief

HF Foods to pay $3.9M to settle execs’ alleged fraud

2024-06-07T18:18:00+01:00By

Food service distributor HF Foods Group agreed to pay a $3.9 million penalty as part of a settlement with the Securities and Exchange Commission regarding alleged fraudulent conduct carried out by its former chief executive officer and former chief financial officer.

Texas Capitol

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​Texas touts team ‘among the largest in the country’ to enforce privacy laws

2024-06-07T13:40:00+01:00By

The state of Texas forecasted “aggressive enforcement” of its upcoming data privacy law with the announcement of a dedicated team to oversee its implementation.

SEC headquarters

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‘Why us?’ SEC lists reasons it conducts examinations of broker-dealers

2024-06-06T19:22:00+01:00By

A risk alert from the Securities and Exchange Commission listed top reasons why a registered broker-dealer might be the subject of an examination.

Health data

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Bluestone Physician Services to pay $14.9M in false claims case

2024-06-06T19:07:00+01:00By

Bluestone Physician Services agreed to pay approximately $14.9 million and abide by a corporate integrity agreement to settle allegations that it filed false claims to federal and state health programs for chronic pain care to people in assisted living facilities.

Blog

Azira names general counsel, chief compliance officer

2024-06-06T15:40:00+01:00By

Consumer behavior insights firm Azira announced the appointment of James Kuan as general counsel and chief compliance officer.

Blog

Kain Capital hires general counsel

2024-06-06T15:37:00+01:00By

Private equity firm Kain Capital announced Solomon Eskinazi joined as general counsel.

Blog

Krispy Kreme announces chief legal officer

2024-06-06T15:34:00+01:00By

Doughnut chain Krispy Kreme announced Atiba Adams will join the company as chief legal officer.

Blog

Skanska appoints general counsel for U.S. business unit

2024-06-06T15:26:00+01:00By

Global construction and development company Skanska appointed Brian Best as senior vice president, general counsel for Skanska USA Building.

Blog

DOCOMO PACIFIC promotes compliance chief to CEO

2024-06-06T15:12:00+01:00By

Telecommunications and entertainment services provider DOCOMO PACIFIC announced the promotion of Christine Baleto, its chief financial officer and chief security and compliance officer, to president and chief executive officer.

SEC building

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Court overturns SEC private fund adviser rule, calls out agency overreach

2024-06-05T20:21:00+01:00By

A federal appeals court struck down the Securities and Exchange Commission’s private fund adviser rule, agreeing with industry advocates that the agency overstepped its authority.

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What to watch for as DOJ whistleblower program sprint ends

2024-06-05T19:14:00+01:00By

The Department of Justice’s 90-day sprint to developing and implementing a pilot whistleblower rewards program ended Wednesday, and many questions remain about what the program will entail.

Blog

Banner Bank promotes risk chief as chief operating officer

2024-06-05T14:32:00+01:00By

Banner Bank announced Executive Vice President Jim Costa was promoted to chief operating officer in addition to his role as chief risk officer.

Blog

Heron Finance hires compliance head

2024-06-05T14:29:00+01:00By

Registered investment adviser Heron Finance announced it hired Michael Jen as head of compliance.

Blog

SoFi appoints general counsel

2024-06-05T12:26:00+01:00By

Digital financial services provider SoFi Technologies announced Stephen Simcock as general counsel.

Blog

Freedom Holding adds first legal chief

2024-06-05T12:21:00+01:00By

Financial services company Freedom Holding Corp. announced the appointment of Jason Kerr as its first chief legal officer.

Epoch Times

News Brief

Epoch Times CFO charged in $67M money laundering scheme

2024-06-04T18:40:00+01:00By

The chief financial officer of the Epoch Times was charged with laundering at least $67 million in illegally obtained funds to bolster the fortunes of the newspaper and himself.

Airbus

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Airbus U.S. unit dinged by BIS for antiboycott violations

2024-06-04T17:20:00+01:00By

Satellite communications company Airbus DS Government Solutions received a reduced penalty from the Bureau of Industry and Security for admitting self-disclosed violations of antiboycott regulations.

CFPB logo

News Brief

CFPB to require nonbanks to register outside enforcement orders

2024-06-04T16:58:00+01:00By

The Consumer Financial Protection Bureau passed a new rule requiring nonbank financial companies to register consumer protection orders filed against them by other federal agencies, courts, or states.

EEOC

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EEOC latest regulator to name AI chief

2024-06-04T14:10:00+01:00By

The Equal Employment Opportunity Commission announced the appointment of an officer overseeing the use of artificial intelligence, becoming the latest agency to create the role called for in a President Joe Biden executive order.

Ericsson

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Ericsson completes DOJ-imposed compliance monitorship

2024-06-03T18:48:00+01:00By

Swedish telecommunications giant Ericsson announced the conclusion of the independent compliance monitorship imposed on the company following its 2019 settlement for violations of the Foreign Corrupt Practices Act.

Accounting

News Brief

Autodesk says no restatements following accounting probe

2024-06-03T17:35:00+01:00By

Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.

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Podcast

Podcast: SEC Commissioner Hester Peirce on regulatory demands, CCO input

2024-06-03T13:41:00+01:00By

Compliance Week’s Aaron Nicodemus sat down for an exclusive chat with SEC Commissioner Hester Peirce covering the flood of new regulation emanating from the agency, stresses on compliance at smaller firms, CCO liability, and more.

DOJ

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Kanter says DOJ adapting antitrust enforcement for AI

2024-06-03T08:58:00+01:00By

The Department of Justice’s Antitrust Division is examining how its policies and enforcement mechanisms are suited to handle potential issues brought about by the proliferation of use of artificial intelligence.