All Risk Management articles – Page 13
-
PremiumKanter says DOJ adapting antitrust enforcement for AI
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.
-
News BriefHyundai Motor caught in DOL complaint over child labor
The Department of Labor sued three Alabama businesses, including a Hyundai Motor manufacturing plant, for employing a 13-year-old worker on an auto parts assembly line.
-
PremiumSEC’s Grewal shares views on ‘Five Principles of Effective Cooperation’
Gurbir Grewal, director of the Enforcement Division at the Securities and Exchange Commission, spelled out plainly his view on the best path to earning cooperation credit during settlement negotiations with the agency.
-
News BriefBaFin relaxes growth restrictions on N26 following AML improvements
German financial regulatory authority BaFin lifted growth restrictions on N26, after the digital bank made improvements to its anti-money laundering program.
-
News BriefLessons from Arthur Grand ‘whites only’ case
IT company Arthur Grand Technologies’ settlements with the Department of Justice and Department of Labor regarding a discriminatory “whites only” job posting offer key takeaways regarding company liability and reputation risks.
-
PremiumOCC’s Hsu advocates requiring mid-sized banks create ‘robust’ recovery plans
Acting Comptroller of the Currency Michael Hsu said he favors requiring more mid-sized U.S. banks to conduct the same rigorous recovery planning as the largest banks, part of a lesson learned from the collapse of three mid-sized banks in 2023.
-
EventRevamped compliance processes key Albemarle win as Compliance Program of the Year
For successfully navigating thorny compliance issues related to self-disclosed violations of the Foreign Corrupt Practices Act, Albemarle was named Compliance Program of the Year at the 2024 Excellence in Compliance Awards.
-
EventGina Nese stays ahead of the curve as CCO of the Year
Gina Nese, head of compliance and privacy at Align Technology, jumps at the chance to share new ideas and ways to innovate, including regarding emerging technologies like AI. Her work earned her recognition as CCO of the Year at the 2024 Excellence in Compliance Awards.
-
News BriefTD Bank risk chief laments ‘procedural weaknesses’ in U.S. AML program
TD Bank Chief Risk Officer Ajai Bambawale said “procedural weaknesses” in the institution’s U.S. anti-money laundering program allowed bad actors to exploit its network.
-
News BriefTreasury, other agencies issue voluntary carbon market principles
The Treasury Department and other U.S. agencies announced a coordinated federal policy concerning carbon credits and other voluntary incentives to encourage businesses and agriculture to cut their carbon footprints.
-
EventCreative engagement approach drives Compliance Innovators Johnson, Sudo
Through clever rhymes and real-life examples, Sharon Johnson and Heather Sudo of MODE Global have made it their mission to think outside the box when it comes to compliance awareness. Their approach earned them Compliance Innovator(s) of the Year at the 2024 Excellence in Compliance Awards.
-
EventLifetime Achievement: Compliance lessons from a ‘Flea’
Felecia “Flea” Bowers, honored for Lifetime Achievement at the 2024 Excellence in Compliance Awards, shares advice for compliance professionals at every stage of their careers.
-
News BriefLemont National, Comerica Bank unit avoid penalties in separate OCC deals
The Office of the Comptroller of the Currency reached agreements with Lemont National Bank and Comerica Bank & Trust over concerns related to risk governance practices.
-
News BriefHSBC fined $8M by FCA for mishandling customers in default
The U.K. Financial Conduct Authority fined HSBC nearly £6.3 million (U.S. $8 million) for failing to properly consider the financial position of customers who missed payments.
-
PremiumDebate: Experts discuss pros, cons of whistleblower process
Compliance Week Advisory Board members Eric Young and Ellen Hunt participate in a debate-style discussion regarding whistleblower-related topics including culture of compliance, monetary incentives, retaliation, and more.
-
News BriefMilliporeSigma’s ‘extraordinary cooperation’ earns it DOJ declination
The Department of Justice declined to prosecute Massachusetts-based biochemical company MilliporeSigma for its “extraordinary cooperation” in uncovering a “rogue” employee’s scheme to procure and ship discounted products to China using falsified export documents.
-
News BriefSEC orders Intercontinental Exchange to pay $10M over Reg SCI violations
Intercontinental Exchange and nine affiliates agreed to pay $10 million for allegedly failing to inform the Securities and Exchange Commission of a cyber intrusion as required by Regulation Systems Compliance and Integrity.
-
News BriefCiti unit fined $78.6M by U.K. regs for trading control failures
The Financial Conduct Authority and Prudential Regulation Authority combined to fine a London-based Citigroup subsidiary approximately £61.7 million (U.S. $78.6 million) for control failures related to its trading system.
-
News BriefSEC official clarifies material incident reporting under new cyber rule
Erik Gerding, director of the Securities and Exchange Commission’s Division of Corporation Finance, issued a statement addressing early inconsistencies observed under the agency’s new cybersecurity incident disclosure rule.
-
OpinionBook review: How compliance can help build organizational trust at speed
Anne Morriss, co-author of “Move Fast and Fix Things,” advises compliance officers to tap into curiosity, communicativeness, and comfort with discomfort to build organizational trust, fast.