All Risk Management articles – Page 53
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PremiumTPRM Summit: How to successfully implement data analytics
A panel of experts at CW’s virtual TPRM and Oversight Summit offered a how-to primer on using data analytics to monitor third-party risk while also highlighting some caveats to implementation.
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ArticleSantander UK fined $132M for poor AML controls
The U.K. arm of Santander was fined approximately £107.8 million (U.S. $132 million) by the Financial Conduct Authority for “serious and persistent” gaps in its anti-money laundering controls.
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PremiumTricky but doable: Tips for navigating sanctions in third-party relationships
Sanctions concerns don’t need to end all business relationships in high-risk regions. Experts at CW’s virtual TPRM and Oversight Summit share their experiences navigating compliance.
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ArticleSEC, OCC flag heightened risks from crypto bankruptcies
The Securities and Exchange Commission and Office of the Comptroller of the Currency reminded public companies and financial institutions, respectively, of their responsibilities to properly manage risks related to the crypto asset market.
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ArticleSurvey: Measuring the impact of code of conduct training
Respondents to a survey from Compliance Week and online compliance training provider Traliant largely described their organization’s code of conduct training as effective, but the opportunity for customized, dynamic courses can take learning to the next level.
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PremiumDOJ calling out compliance with 2022 policy shifts
If it seems the Department of Justice has compliance officers in its crosshairs with its controversial policy changes this year, that’s because it does. Some respondents to our annual “Inside the Mind of the CCO” survey embrace the challenge, while others are still skeptical.
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ArticleRabobank probed by Dutch prosecutors over potential AML violations
Rabobank, the second largest bank in the Netherlands, is being investigated by the Dutch Public Prosecution Service for potential violations of the country’s anti-money laundering/countering the financing of terrorism law.
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ArticleChallenges for SPACs: Public company, now what?
Special purpose acquisition company transactions have unique risks and require awareness of what it takes to operate as a public business. Internal controls, governance, technology, and more are essential.
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ArticleLoaded SEC agenda to carry into 2023
The Securities and Exchange Commission is expected to see through its controversial policy proposals from 2022, though the newly Republican-led House could slow the agency’s momentum.
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PremiumTPRM Summit: Experts discuss FCPA lessons learned from ABB settlement
A panel on regulatory trends at CW’s virtual TPRM and Oversight Summit discussed lessons for compliance departments seeking to learn how to guard themselves against bad actors within their own firms contained in ABB’s recent $327 million bribery settlement.
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ArticleU.S. law to stop Uyghur forced labor remains compliance challenge
It’s been six months since the Uyghur Forced Labor Prevention Act took effect, and businesses are no clearer today on how to comply with it, those familiar with the law said.
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ArticleFive compliance triumphs from 2022
Positive contributions in the areas of ESG, AI responsibility, and setting standards regarding CCO liability highlight the latest installment of CW’s annual list of laudable ethics and compliance moments.
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SEC risk alert notes compliance issues regarding ID theft rule
The Division of Examinations at the Securities and Exchange Commission issued a risk alert detailing recent issues observed by inspectors regarding compliance with the agency’s identity theft red flags rule, Regulation S-ID.
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ArticleNo time managing risk? No wonder FTX collapsed
Sam Bankman-Fried’s admission he put no effort into risk management in leading cryptocurrency exchange FTX makes it easy to understand how the firm collapsed so quickly.
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Article‘A profound sense of loss’: Inside Elon Musk’s Twitter culture teardown
Former and current Twitter employees share insights into the state of the social media company’s “toxic” culture and “morose, fearful” atmosphere since Elon Musk stepped on the scene.
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DOJ official hints at policy changes for off-channel communications, clawbacks
The Department of Justice is considering issuing new guidance regarding companies’ record-keeping obligations for employees’ use of personal cell phones to conduct corporate business, as well as executive compensation clawback policies.
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ArticleCFTC commissioner stresses ‘urgency’ in call for heightened crypto oversight
Christy Goldsmith Romero, a commissioner at the Commodity Futures Trading Commission, is lobbying the regulator to use its existing authority to conduct “heightened supervision” over derivative exchanges to create more oversight in crypto markets.
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ArticleElon Musk, Twitter, and lessons in (mis)management
Senior executive shakeups, mass employee layoffs and resignations, major advertisers halting their ads—Elon Musk’s acquisition of Twitter provides a case study in leadership mismanagement for the ages.
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ArticleRegs order Citi to address unresolved data management woes
Citigroup has successfully resolved key compliance shortcomings identified as part of a 2020 enforcement action but still has work to do to address data management weaknesses, according to federal banking regulators.
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ArticleGoldman Sachs unit fined $4M for ESG investment lapses
Goldman Sachs Asset Management agreed to pay $4 million to settle SEC charges it failed to follow its own policies and procedures regarding a trio of investment products marketed for their environmental, social, and governance considerations.