All United States articles – Page 113
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News BriefFed details Custodia Bank membership rejection over risk deficiencies
The Federal Reserve Board further expounded on the risk management deficiencies it found at Custodia Bank as part of the digital-first bank’s application to become a member of the Federal Reserve System.
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News BriefReport alleges Block’s Cash App facilitates fraud, disregards AML laws
Investment research firm Hindenburg Research accused financial technology payment company Block of facilitating money laundering, fraud, and scams on its platform.
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News BriefPolite: Look to ABB case for ‘extraordinary cooperation’ example
Compliance officers seeking clarity on what the Department of Justice means by “extraordinary” cooperation or “immediate” self-disclosure should look to the agency’s case history, said Assistant Attorney General Kenneth Polite Jr. during a speech.
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News BriefVeradigm discloses ICFR weakness related to rev rec software tool
Healthcare technology company Veradigm disclosed it expects it misstated revenue by approximately $40 million during its 2021 and 2022 reporting periods.
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News BriefCoinbase facing SEC enforcement over potential securities violations
Coinbase said it was served a Wells Notice by the Securities and Exchange Commission for potential violations of securities law regarding multiple of its cryptocurrency products.
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PremiumBest practices to ensure your firm’s compliance resiliency
What is compliance resiliency, and why is it crucial for your organization to have it? Recent enforcement examples demonstrate why mapping out a clear business continuity plan can help thwart a risky management reshuffle.
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PremiumExperts: Fraud risks heightened amid banking turmoil
The stunning, rapid collapse of Silicon Valley Bank, fueled in its final days by droves of panicked depositors seeking funds, likely added to the chaos within the bank and ratcheted up the risk of fraud, according to legal experts.
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BlogPCAOB appoints Robert Rice new director of enforcement division
The Public Company Accounting Oversight Board announced Robert Rice would succeed Mark Adler as head of enforcement and investigations.
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News BriefTikTok CEO to boast data security efforts in Congress testimony
The fate of popular social media app TikTok in the United States could hinge on the testimony of CEO Shou Zi Chew before the House Committee on Energy and Commerce.
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News BriefYellen says regs might cover deposits of other struggling banks
Treasury Secretary Janet Yellen said federal regulators are willing to extend the same financial assistance—perhaps even extended deposit insurance—to mid-sized banks struggling to handle the fallout from the failures of Silicon Valley Bank and Signature Bank.
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Blog
Angeles Wealth Management appoints chief compliance officer
Angeles Wealth Management announced the appointment of Edward Lowndes as chief operating officer and chief compliance officer.
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News BriefSEC chief accountant eyeing auditor use of network member firms
The Securities and Exchange Commission is paying added scrutiny toward audit firms’ increasing use of network affiliates in their work and the potential for inconsistent quality that comes with such an approach.
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Blog
Advanced Vapor Devices names general counsel
Advanced Vapor Devices announced the appointment of Doug Fischer as general counsel.
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News BriefBiden calls for banking exec clawbacks amid failures
President Joe Biden is calling on Congress to “do more to hold senior bank executives accountable” since the market turmoil that has followed the collapses of Silicon Valley Bank and Signature Bank.
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Blog
TrueBlue promotes VP of DEI to chief diversity officer
Staffing and recruiting company TrueBlue announced the promotion of Anthony Brew to chief diversity officer.
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Blog
Apollo units name successor chief compliance officer
Apollo Global Management announced the promotion of Ryan Del Giudice to chief compliance officer for certain of its subsidiaries.
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News BriefTupperware to delay annual report amid ICFR weaknesses
Tupperware Brands Corp. disclosed it uncovered material weaknesses in its internal control over financial reporting as part of an announcement its 2022 annual report would be delayed.
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News BriefBipartisan bill strengthening SEC whistleblower program reintroduced
Sens. Chuck Grassley (R-Iowa) and Elizabeth Warren (D-Mass.) revived a whistleblower protection bill aimed at shielding whistleblowers from retaliation and cutting down on the time it takes to receive an award from the Securities and Exchange Commission.
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PremiumWhere will regulators turn following SVB, Signature Bank failures?
Small and mid-sized banks can expect more regulatory scrutiny in the aftermath of the collapses of Silicon Valley Bank and Signature Bank, according to legal experts. The time to prepare is now.
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News BriefFed governor teases new TPRM guidance for banks
The Federal Reserve and other U.S. banking agencies are working to develop joint guidance to clarify regulatory expectations around third-party risk management, according to Fed Governor Michelle Bowman.