All United States articles – Page 117
-
News BriefTreasury: DeFi services vulnerable to AML/CFT, cybersecurity risks
A new U.S. Treasury report concluded that decentralized finance services are being used by bad actors to launder the proceeds of illegal activity, aided by crypto platforms weak or non-existent in anti-money laundering and sanctions compliance programs.
-
PremiumNeed to know: FASB proposal on accounting for crypto assets
The Financial Accounting Standards Board issued a proposed accounting standards update to improve accounting and disclosures for certain crypto assets.
-
News BriefMicrosoft to pay $3.3M to settle sanctions, export control violations
Microsoft will pay more than $3.3 million to settle charges from the Office of Foreign Assets Control and Bureau of Industry and Security its subsidiaries violated sanctions laws and export controls across their dealings in four sanctioned countries and Ukraine’s Crimea region.
-
News BriefGenotox Laboratories to pay $5.9M in DOJ kickback settlement
Genotox Laboratories agreed to pay at least $5.9 million to settle charges it violated the False Claims Act by paying volume-based commissions to third-party marketers and submitting claims to federal healthcare programs for unnecessary drug tests.
-
OpinionAlleged fraudster cited privacy in duping JPMorgan into $175M merger
Charlie Javice and her startup Frank allegedly convinced the country’s largest bank to pay $175 million for what largely amounted to a list of fake college students. The apparent due diligence failures by JPMorgan Chase offer a cautionary tale to compliance professionals.
-
News BriefGoldman Sachs fined $3M by FINRA over mismarked short sales
Goldman Sachs was fined $3 million by the Financial Industry Regulatory Authority for mismarking nearly 60 million short sell orders as long and related supervision failures.
-
Blog
Becton, Dickinson & Co. promotes CECO to general counsel
Global medical technology firm Becton, Dickinson and Company announced the promotion of Chief Ethics and Compliance Officer Michelle Quinn to general counsel.
-
Blog
JumpCloud appoints chief legal officer
Zero trust cybersecurity software company JumpCloud announced the appointment of Jill Passalacqua as chief legal officer.
-
News Brief
Merrill Lynch to pay $9.7M over undisclosed fees
Merrill Lynch agreed to pay nearly $9.7 million as part of a settlement with the Securities and Exchange Commission addressing allegations the firm charged more than $4 million in undisclosed fees to clients.
-
OpinionMessaging history damning in CFTC case against ex-Binance CCO
A cryptocurrency firm with a chief compliance officer found to not be handling the responsibilities of their role seriously is likely to face additional regulatory scrutiny, as evidenced by the Commodity Futures Trading Commission’s action against Binance.
-
Blog
Toyota Motor NA social innovation head adds chief diversity officer to title
Toyota Motor North America announced Group Vice President and Chief Social Innovation Officer Tellis Bethel will be adding chief diversity officer to his title.
-
News BriefSEC charges three Austal USA execs with accounting fraud
Three executives at the U.S. subsidiary of Australian defense contractor Austal Limited were charged with accounting fraud for allegedly participating in a three-year scheme to lower cost estimates and prematurely book revenue.
-
Blog
Hines promotes DEI director to chief diversity officer
Global real estate development company Hines announced the promotion of Vice President of Talent, Leadership, and DEI Crystal Castille-Cromedy to senior vice president and chief diversity officer.
-
Blog
Chubb promotes deputy chief risk officer to CRO
Global property and casualty insurance company Chubb announced the promotion of Senior Vice President and Deputy Chief Risk Officer Frances O’Brien to chief risk officer.
-
News BriefUphold HQ fined $72K in OFAC sanctions case
Uphold HQ will pay $72,230 to settle charges levied by the Office of Foreign Assets Control that it processed sanctioned transactions for persons in Iran and Cuba and government employees in Venezuela.
-
News BriefOCC establishes Office of Financial Technology to keep pace with fintechs
The Office of the Comptroller of the Currency established its Office of Financial Technology to supervise the fintech industry as it grows at a “rapid pace.”
-
News Brief
Biden presses banking regs to revisit Trump-era rollbacks
President Joe Biden called on federal banking agencies to consider reforms that would largely reverse changes to regulation made during the Trump administration regarding liquidity requirements, stress tests, and more.
-
News BriefEx-CCO of Rochester Drug Co-operative spared jail time after testifying
The former chief compliance officer of Rochester Drug Co-operative received no jail time after pleading guilty to aiding widescale opioid distribution and testifying against his former chief executive officer.
-
News BriefWells Fargo fined $98M for facilitating sanctions violations in Iran, Syria, Sudan
Wells Fargo will pay nearly $98 million to settle charges a subsidiary facilitated more than $532 million worth of prohibited transactions in violation of sanctions against Iran, Syria, and Sudan.
-
News BriefReport: Disney parts with CCO, adds duties to general counsel
The Walt Disney Company is reportedly parting with Chief Compliance Officer Alicia Schwarz, whose responsibilities will be assumed by General Counsel Horacio Gutierrez.