Risk & Regulatory Compliance

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Report: GDPR fines surpass $1B in 2021; breach notifications also rise

2022-01-18T22:06:00+00:00By

Nearly €1.1 billion (U.S. $1.2 billion) worth of fines have been issued against organizations in the past year for violations of the General Data Protection Regulation, according to the latest annual report by law firm DLA Piper.

Credit Suisse sign

Credit Suisse chairman resigns over breach of Covid-19 rules

2022-01-18T18:20:00+00:00By

António Horta-Osório, the leader who was supposed to bring stability and accountability back to Credit Suisse, resigned after eight months as chairman following an investigation into his flouting of Covid-19 rules.

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CW accepting nominations for 2022 ‘Excellence in Compliance Awards’

2022-01-18T13:00:00+00:00By

Nominations are open for Compliance Week’s third annual “Excellence in Compliance Awards,” to be presented at our 2022 National Conference from May 16-18 in Washington, D.C.

LockHoleNetwork

Accellion to pay $8.1M in proposed data breach settlement

2022-01-14T19:16:00+00:00By

The Accellion data breach that last year affected a variety of private- and public-sector organizations and compromised the personal data of millions of individuals could be resolved in an $8.1 million class-action settlement.

U.K. business

NSI Act reshapes U.K. acquisition landscape

2022-01-14T16:59:00+00:00By

The U.K. National Security and Investment Act might present “unforeseen” compliance problems for companies wanting to merge with or buy foreign businesses, according to legal experts.

Supreme Court

Supreme Court strikes down OSHA vaccine policy for large employers

2022-01-13T22:51:00+00:00By

The U.S. Supreme Court has blocked the Biden administration’s Covid-19 vaccine-or-test mandate for large businesses, striking down an emergency temporary standard from OSHA that had technically been in effect since Monday.

Bank of America

Bank of America, Wells Fargo headline climate risk consortium

2022-01-12T21:42:00+00:00By

Bank of America, Wells Fargo, U.S. Bank, and 16 other financial institutions have formed a climate risk consortium in response to calls from investors and regulators that banks work to mitigate climate-related risks within their own operations.

Liability

CCO liability framework seeks to acknowledge compliance support concerns

2022-01-12T20:55:00+00:00By

The National Society of Compliance Professionals has drafted a framework that urges regulators to consider chief compliance officer liability more holistically, in the context of the compliance culture within a CCO’s firm.