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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2024-01-22T20:18:00
The New York State Department of Financial Services (NYDFS) released final guidance Monday on how banks and non-depository financial institutions should vet executives, including chief compliance officers, before and during their employment.
The guidance expands upon an NYDFS proposal in May that cited outdated standards in hiring senior officers, such as only conducting a criminal background check and not a check for conflicts of interest.
Regulated entities are expected to report recruitment-related findings to their board of directors and CCO, according to the final guidance.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2024-05-14T16:59:00Z By Aaron Nicodemus
The New York State Department of Financial Services issued guidance for small businesses attempting to comply with its cybersecurity regulations.
2024-01-19T18:43:00Z By Aaron Nicodemus
The Industrial and Commercial Bank of China and its New York branch agreed to pay $32.4 million in penalties levied by two regulators for failing to address compliance failures and for the unauthorized disclosure of confidential supervisory information to an overseas regulator.
2024-01-17T18:28:00Z By Kyle Brasseur
The New York State Department of Financial Services issued for public comment guidance for insurers operating in the state regarding their use of artificial intelligence systems and other predictive technologies.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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