All Risk Management articles – Page 72
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ArticleMcKinsey affiliate to pay $18M for poor handling of nonpublic information
MIO Partners, a wholly owned subsidiary of management consulting firm McKinsey & Company, has agreed to pay an $18 million penalty for failing to maintain adequate policies and procedures to prevent the misuse of material nonpublic information.
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ArticleSEC enforcement report: Total actions down in FY2021; first-of-their-kind cases up
The number of total enforcement actions filed by the Securities and Exchange Commission fell 3 percent in fiscal year 2021, according to the agency’s annual enforcement report.
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PremiumCompliance must carve out role in company ESG efforts
Respondents to our “Inside the Mind of the CCO” survey agree compliance should play a key part as businesses determine their ESG strategy—either through primary oversight or meaningful participation.
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PremiumInside the Mind of the CCO: New responsibilities come to fore in 2021
For the third straight year, respondents to our “Inside the Mind of the CCO” survey indicated lack of support and resources as the No. 1 part of their job that keeps them up at night. It’s cause for concern, especially as the role’s mandate grows.
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PremiumThe year of ransomware: How companies are boosting cybersecurity controls
High-profile ransomware events over the last year have prompted businesses to beef up cyber defenses through new investments, increased training, and more, according to our “Inside the Mind of the CCO” survey.
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PremiumDEI & compliance: Signs of advancement and complications
A global outcry for racial justice reached a crescendo in 2020, and corporate America pledged to “meet the moment” with transformative change. According to our “Inside the Mind of the CCO” survey, there are macro signs of companies trying to move the needle, but gaps in DEI progress remain.
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Article
ICA launches financial crime risk assessment tool
The International Compliance Association has launched an enterprise-wide risk assessment tool to help its members better assess, document, and manage financial crime risk.
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Article2021 TRACE Bribery Matrix: Post-Trump U.S. still outside top 20
A negative trend in the U.S. business bribery risk environment that began under the Trump administration has yet to reverse, according to TRACE International’s 2021 Bribery Risk Matrix.
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ArticleOSHA halts implementation of Biden vaccine policy
The Occupational Safety and Health Administration has suspended implementation and enforcement of its guidance ordering companies with more than 100 employees to develop a COVID-19 vaccine policy by Jan. 4.
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ArticleCWE panel: EU Whistleblowing Directive a test for company procedures
Multiple weak points identified with the upcoming EU Whistleblowing Directive could put the burden on companies to determine how to best implement the law, experts discussed during CW’s virtual Europe event.
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PremiumCompliance: The happiest profession on Earth?
While the “Great Resignation” takes its toll on many industries, compliance officers responding to CW’s “Inside the Mind of the CCO” survey still near-unanimously say they are happy with their jobs. Amii Barnard-Bahn speaks with practitioners for their insights into the disparity.
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ArticleLawsuit: Ex-JPMorgan VP links firing to concerns raised about compliance program
A former compliance executive with JPMorgan Chase alleges she was fired after pointing out flaws in the bank’s compliance program and misrepresentations the bank made to regulators regarding a 2016 settlement of bribery allegations in the Asia Pacific region.
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ArticleVolkswagen not resting on laurels post-monitorship
Volkswagen CCO Kurt Michels shared how the company has intensified business partner due diligence in the wake of completing its three-year U.S. monitorship during a fireside chat at CW’s virtual Europe event.
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ArticleCWE panel: Risks, rewards of outsourcing compliance
As they look to manage third-party risks, compliance departments are increasing their reliance on outsourcing. Experts at Compliance Week’s virtual Europe event discuss the benefits and risks of enlisting external help.
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ArticleU.K. Supreme Court decision on Google deals blow to class actions
Legal experts weigh in on the U.K. Supreme Court’s rejection of a claim that sought billions of pounds in damages from Google over alleged illegal tracking of millions of iPhones and what it means for future collective actions.
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ArticleTreasury ransomware response: More sanctions, updated FinCEN guidance
The U.S. Treasury continued its crackdown on facilitators of ransomware payments, sanctioning a second virtual currency exchange and its affiliates and updating FinCEN guidance to help make financial institutions more aware of related red flags.
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ArticleSEC, CFTC charge U.S. Commodity Funds with disclosure failures
The SEC settled charges against U.S. Oil Fund and its general partner U.S. Commodity Funds for misleading statements about futures broker limitations. USCF additionally settled a parallel CFTC case and will pay a total penalty of $2.5 million.
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ArticleRobinhood data breach impacts 7 million customers
Robinhood announced a hacker obtained the email addresses or names of approximately seven million of its customers. Approximately 310 customers had their personal information exposed as part of the same breach.
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ArticleOCC acting head: 5 climate questions bank boards should be asking
Michael Hsu, acting head of the Office of the Comptroller of the Currency, explores the role of bank boards to promote improvements in climate risk management practices at their banks.
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ArticleCredit Suisse to overhaul strategy: ‘Risk management will be at the core of our actions’
Credit Suisse announced sweeping changes to its long-term growth strategy, reemphasizing risk management after missed red flags led to billions of dollars in losses related to the collapses of Archegos Capital Management and Greensill Capital.