By Stephen King, legal senior director & chief compliance investigator, PepsiCo, Andrew Gaillard, assistant general counsel, U.S. compliance investigations, Pfizer, James Finnerty, SVP, associate deputy global anti-money laundering officer - United States, TD Bank, Moderator: Bruce Carton, featured columnist, Compliance Week 2019-01-15T14:24:31.257+00:00
The U.K. Financial Reporting Council has reprimanded and fined KPMG and one of its former senior partners for a failure to exercise “sufficient professional skepticism” and for failure to obtain “sufficient appropriate audit evidence.”
The SEC has filed a complaint against four individuals, including a former chief compliance officer, for conducting a fraudulent unauthorized trading scheme through retail customer accounts at their Commission-registered brokerage firm.
The status of compliance practitioners has grown over the past decade, buoyed by changes in the regulatory space as well as record penalties for transgressions. It will become even more important in the wake of the coronavirus pandemic.