All United States articles – Page 10
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ArticleFed cites AML weaknesses in denying Custodia Bank membership application
The Federal Reserve Board denied the application of Custodia Bank for membership in the Federal Reserve System, citing weaknesses in the digital-first bank’s anti-money laundering protocols as part of its decision.
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Democratic senators push PCAOB to crack down on crypto audit work
Sens. Elizabeth Warren (D-Mass.) and Ron Wyden (D-Ore.) called on the Public Company Accounting Oversight Board to address so-called “sham audits” of cryptocurrency companies by registered auditors in the aftermath of the collapse of FTX.
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PCAOB inspections: SPACs lend to Marcum struggles
The Public Company Accounting Oversight Board’s latest batch of 2021 audit inspection reports included a setback in results for Marcum largely related to the firm’s work dealing with special purpose acquisition companies.
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Reports: Morgan Stanley fines bankers up to $1M for off-channel communications
Morgan Stanley fined its employees up to $1 million for using unauthorized communication channels in violation of recordkeeping rules, according to multiple reports.
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Q&A: Ex-DOJ official on policy changes, new CCO expectations
Scott Hulsey, partner at Barnes & Thornburg, former federal prosecutor, and a former chief compliance officer, discusses with Compliance Week how CCOs should respond to the Department of Justice’s recent policy changes regarding corporate crime.
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Quad/Graphics promotes chief risk and compliance officer to general counsel
Marketing and printing company Quad/Graphics disclosed the promotion of Dana Gruen, currently senior vice president, chief risk and compliance officer and deputy general counsel, to general counsel and corporate secretary.
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Ex-GigaTrust CEO sentenced to five years for $50M fraud
The former chief executive officer of email security company GigaTrust was sentenced to five years in prison for fabrications that allowed him and two other executives to defraud investors and lenders of millions.
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SEC seeks to revive Dodd-Frank rule on conflicts in securities trading
The Securities and Exchange Commission resurrected an unfulfilled mandate of the Dodd-Frank Act that would prevent the sale of certain securities if there is a conflict of interest.
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Popular Bank fined $2.3M by Fed over fraudulent PPP loan approvals
The Federal Reserve Board fined New York-based Popular Bank $2.3 million for processing Paycheck Protection Program loans despite finding significant indications of possible fraud in the loan applications.
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Audit exam cheating findings spark concern of endemic trend
Recent penalties against Big Four audit firms KPMG, PwC, and EY over allegations of widespread exam cheating have raised concerns prompting regulators to investigate the extent of the practice.
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CCO of Apollo units to depart
MidCap Financial Investment Corp. and Apollo Debt Solutions BDC will be searching for new compliance leadership following the resignation of Chief Compliance Officer Isabelle Gold.
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Restore Hyper Wellness names chief compliance officer
Restore Hyper Wellness announced the appointment of Emma Nasif as chief compliance officer.
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FINRA enforcement head to depart, acting successor announced
The Financial Industry Regulatory Authority announced longtime Head of Enforcement Jessica Hopper will depart Feb. 3.
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Kraken appoints chief compliance officer
Cryptocurrency platform Kraken announced the appointment of CJ Rinaldi as chief compliance officer.
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JBS accused of greenwashing in SEC whistleblower complaint
Brazilian meat processing company JBS faces accusations of issuing $3.2 billion worth of “misleading and fraudulent” sustainability bonds in a whistleblower complaint filed with the Securities and Exchange Commission.
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Report: Audit committees bracing for increased role in ESG, ERM, cyber
A new report from the Center for Audit Quality and Deloitte found corporate boards are taking a fresh look at their audit committee structures and practices to respond to emerging corporate reporting areas and increased risks.
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J&J unit to pay $9.75M to settle kickback suit
A Johnson & Johnson medical device subsidiary admitted to providing thousands of dollars in equipment as kickbacks to an orthopedic surgeon as part of a $9.75 million settlement reached with the Department of Justice.
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Marygold Companies tasks CCO with leading fintech subsidiary
Global holding firm The Marygold Companies announced the appointment of Timothy Rooney to head the company’s financial technology startup, Marygold & Co.
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Kohler promotes SVP of HR to chief sustainability, DEI officer
Manufacturing company Kohler Co. announced the promotion of Laura Kohler to be its first chief sustainability and diversity, equity, and inclusion officer.
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Alpine Investors appoints general counsel, CCO
Alpine Investors announced the appointment of Alexandria Stuart as general counsel and chief compliance officer.
