All United States articles – Page 152
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ArticleSEC, states fine BlockFi $100M; crypto lending product declared a security
BlockFi Lending agreed to pay $100 million in penalties as part of a first-of-its-kind case in which the Securities and Exchange Commission declared a type of cryptocurrency lending product should be registered as a security.
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ArticleFINRA sanctions compliance officer for AML failures
The Financial Industry Regulatory Authority has ordered a compliance officer to pay $25,000 for failing to establish and implement a “reasonably designed” anti-money laundering compliance program at the brokerage firm where he worked.
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ArticleESG reporting: A summary of investor needs and wants
An investor-focused panel at a recent event shared views on investors’ perspectives about current and future use of ESG metrics and disclosures and where common ground can be found between the providers and users of the information.
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ArticleSEC proposal seeks to undo Trump-era whistleblower changes
The Securities and Exchange Commission will seek to undo several changes to the agency’s whistleblower program enacted during the Trump administration to potentially limit large awards.
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ArticleFINRA 2022 exam report highlights Reg BI compliance, AML trends, more
The Financial Industry Regulatory Authority’s annual report on examinations and risk monitoring contains insights on issues the organization uncovered regarding broker-dealers’ compliance with Regulation Best Interest during the rule’s first full year in existence.
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ArticleSEC proposes enhanced disclosures for private equity and hedge funds
The Securities and Exchange Commission voted to propose a rule that would require hedge funds and private equity funds to provide detailed information on fees, expenses, and performance on a quarterly basis.
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ArticleBanks, small firms wary of compliance costs of FinCEN beneficial ownership rule
Comment letters submitted to the Financial Crimes Enforcement Network regarding its proposed beneficial ownership registry rule express concerns related to compliance costs, implementation timelines, and more.
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ArticleDOJ arrests in Bitfinex case highlight inner workings of crypto laundering scheme
The Department of Justice arrested two individuals over an alleged conspiracy to launder approximately $4.5 billion worth of cryptocurrency stolen in the 2016 hack of digital asset trading platform Bitfinex.
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ArticleHow Accor manages global data privacy compliance
Marie-Christine Vittet, vice president of compliance at hospitality chain Accor, shares with Compliance Week the company’s journey toward a global data privacy compliance program.
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ArticleIndictment: China-based Hytera stole trade secrets from Motorola
Hytera Communications allegedly conducted a scheme to systematically steal trade secrets from Motorola Solutions by hiring away Motorola employees who had developed its “walkie-talkie” product line, according to a federal indictment.
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ArticleTesla discloses new SEC subpoena over Elon Musk settlement
Electric car maker Tesla disclosed in a regulatory filing it received a subpoena from the SEC regarding its settlement with the regulator designed to rein in CEO Elon Musk’s Twitter posts.
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ArticleMicrosoft, Activision Blizzard, and importance of cultural due diligence in M&A
Rarely do cultural considerations play a role in M&A transactions, though they are often critical to the ultimate success of a deal. Microsoft’s planned acquisition of embattled video game developer Activision Blizzard offers a timely case study.
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ArticleMeta threatens to pull Facebook, Instagram in Europe over GDPR data transfer dispute
Meta Platforms is threatening to pull down Facebook and Instagram in the European Union over concerns it cannot meet data-sharing rules set in the region’s General Data Protection Regulation.
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ArticleMixed results for Marcum, RSM in 2020 PCAOB inspections
The Public Company Accounting Oversight Board published 2020 inspection reports for a handful of large U.S. audit firms outside the Big Four. Marcum and RSM had the most audit deficiencies identified of the group.
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ArticleSnapchat CCO to step down for ‘sabbatical’
Calling it a “sabbatical” and admitting he’s “ready for a time out,” longtime Snap Chief Compliance Officer Dominic Perella announced he’s planning to step down in the spring.
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ArticleDOJ opinion offers take on whether ransom-like payment violates FCPA
A payment by a U.S.-based company to a third-party intermediary under circumstances that placed an employee’s life and well-being at “significant risk” would not trigger enforcement under the anti-bribery provisions of the FCPA, the Department of Justice stated in an opinion procedure.
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PremiumEpilogue: What happened to Betsy?
The “patient zero” of fictional private utility company Vulnerable Electric’s ransomware crisis learns her fate.
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PremiumChapter 4: Recovery and lessons learned post-ransomware attack
Whether fictional private utility company Vulnerable Electric pays the ransom or not in the aftermath of its cyber incident, the two pathways quickly splinter off in different directions with varied endings, each with important lessons to be learned.
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ArticleAA study: Total audit fees decline in 2020 for first time in decade
Total and average audit fees in 2020 each declined for the first time since 2010, according to the latest Audit Analytics research.
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ArticleFalse Claims Act-related settlements top $5.6B in 2021
False Claims Act settlements totaled more than $5.6 billion in the past federal fiscal year, the second-largest amount ever collected by the government in FCA actions in one year, according to the Department of Justice.