Boards & Shareholders


News Brief

Lyft fined $10M for not disclosing board member’s role in pre-IPO stock sale


Ridesharing company Lyft agreed to pay a $10 million penalty to settle allegations by the Securities and Exchange Commission it failed to disclose a pre-initial public offering stock deal that netted a member of its board millions of dollars.

Bank of America


Investor lawsuit targets Bank of America over off-channel comms fines


Stockholder lawsuits have emerged as the latest aftershock from the regulatory crackdown against banks and financial services firms for allowing off-channel business communications by their employees.

TPRM Huntley


TPRM Summit takeaways: Tech risks, board and audit relationships


The impact of new technologies like generative artificial intelligence on the third-party risk management landscape was among the points of discussion addressed at Compliance Week’s TPRM Summit in Atlanta.

Bank risk


KPMG report: Bank supervision, cyber among reg focus areas for rest of year


A new report by KPMG on key regulatory challenges for the second half of 2023 warned financial institutions to prepare for increased scrutiny, while all companies should expect more questions on how they oversee their cybersecurity and data management programs.

Wells Fargo bank

News Brief

Wells Fargo to pay $1B to settle suit over consent order noncompliance


Wells Fargo agreed to pay $1 billion to settle a class-action lawsuit filed by shareholders who claimed the bank overstated its progress in complying with regulatory orders related to its 2016 fake accounts scandal.

Credit Suisse sign

News Brief

Credit Suisse discloses ICFR ‘not effective’ in 2022


Credit Suisse Group disclosed in its annual report its internal control over financial reporting was “not effective” for the fiscal year ending December 2022.



​Experts: Delaware court McDonald’s ruling lowers bar on officer liability


The fiduciary duty of oversight that historically has applied only to directors “applies equally to officers,” including CCOs, the Delaware Court of Chancery explicitly held in its ruling regarding former McDonald’s Chief People Officer David Fairhurst.


News Brief

Five more board members resign in DOJ antitrust sweep


Five corporate board members resigned after being flagged by the Department of Justice for potentially violating the antitrust provisions of the Clayton Act.

Risk reward


Is threat of regulatory censure a risk worth taking?

2023-02-14T21:13:00+00:00By Paul Eccleson, for International Compliance Association

When making anti-regulatory decisions, a board is expressing its real risk appetite. This can be frustrating, even bewildering, for compliance professionals, especially when rules are clear and explicit in their expectations.



Cybersecurity challenges: Defense and disclosure


Experts share perspectives regarding the criticality of cybersecurity risks, what the response of management and boards should be, and how proposed disclosure requirements need to be incorporated into cyber-related responsibilities.



Joining the dots between ESG and corruption

2022-12-20T14:00:00+00:00By Ingrida Kerusauskaite and Rory Donaldson, for International Compliance Association

A report from Transparency International UK sets out the case for why business integrity and corruption should be considered as core issues in the context of impact environmental, social, and governance investing.

Elon Musk Twitter


Elon 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.

Board table


Five companies lose board members in DOJ antitrust sweep


Seven members of corporate boards resigned after the Antitrust Division of the Department of Justice flagged their situations as potential violations of the Clayton Act.

London cityscape


FCA faults board oversight of compliance in fining Sigma Broking $589K


London-based brokerage firm Sigma Broking was fined £531,000 (U.S. $589,000) for failing to report certain transactions to the U.K. Financial Conduct Authority.