All United States articles – Page 157
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Article
SEC names new acting head of Division of Examinations
Richard Best will become acting director of the Division of Examinations at the Securities and Exchange Commission, following the announced departure of Daniel Kahl.
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ArticleHow to prepare for SEC’s climate-related disclosure rule
The Securities and Exchange Commission’s proposed climate-related disclosure rule would force companies that have been reluctant to initiate a self-examination of their environmental impact to do so, posthaste. Experts weigh in on where to start.
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ArticleSEC adds Weibo to HFCAA watchlist
The Securities and Exchange Commission added Chinese social media giant Weibo Corp. to its list of companies not in compliance with the Holding Foreign Companies Accountable Act.
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ArticleMomentum building toward Privacy Shield replacement?
Recent comments by EU and U.S. lawmakers and insights from privacy experts suggest a new mechanism to replace the defunct Privacy Shield and ensure safe transatlantic data transfers might soon be introduced.
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ArticleReport: Number of AML fines up, penalty totals down in 2021
The number of anti-money laundering fines assessed against financial institutions globally reached its highest amount in six years during 2021, though the penalty amounts associated with those enforcement actions dropped notably, according to Kroll’s annual benchmark report.
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ArticleTreasury official: Compliance has chance to effect history with Russia response
Elizabeth Rosenberg, assistant secretary for terrorist financing and financial crimes at the Treasury Department, said in a speech “history has thrust the compliance sector into the center of events” regarding business response to evolving sanctions and actions against Russia.
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ArticleCompliance implications of USAA order addressing AML lapses
The consent order issued by the Office of the Comptroller of the Currency against USAA Bank imparts lessons for compliance officers in the financial services industry on how—and how not—to maintain a Bank Secrecy Act/anti-money laundering compliance program.
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Article
SEC releases highly anticipated climate-related disclosure rule
After months of anticipation, the Securities and Exchange Commission issued its proposed climate-related disclosure rule, a sweeping potential mandate that would force all public companies to quantify, measure, and disclose their effect on the environment.
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ArticleTRACE: U.S. bribery enforcement continued decline in 2021
The number of U.S. foreign bribery enforcement actions slowed notably in 2021, while the overall pace of transnational anti-bribery enforcement actions and investigations lagged worldwide, according to TRACE International’s latest enforcement report.
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ArticleFINRA stresses supervisory authority as key to CCO liability cases
Whether chief compliance officers have supervisory authority is key to the Financial Industry Regulatory Authority’s determination of CCO liability, the organization clarified in a regulatory notice.
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ArticleAdvice for navigating ‘fast and furious’ Russian sanctions landscape
To help sort through the gray area of evolving sanctions and export control restrictions against Russia, chief compliance officers should consider a handful of key best practices.
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ArticleUSAA fined $140M for AML compliance failures
USAA Federal Savings Bank must pay $140 million as part of consent orders reached with the Financial Crimes Enforcement Network and Office of the Comptroller of the Currency for its failures maintaining its Bank Secrecy Act/anti-money laundering compliance program.
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ArticleThe moral of Elizabeth Holmes’s story: Focus on facts, not facades
The depiction of Elizabeth Holmes in the Hulu miniseries “The Dropout” bears out the tendency to filter judgment of the Theranos founder through the lens of her gender—but it’s her actions that should matter.
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ArticleMoneyGram, NYDFS agree on $8.25M settlement for supervision lapses
MoneyGram will pay $8.25 million as part of a settlement with the New York State Department of Financial Services for supervision failures regarding local agents processing suspicious transactions in China.
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ArticleFormer CafePress owner to pay $500K in FTC settlement over data breach
Residual Pumpkin Entity, the former owner of CafePress, must pay $500,000 in redress under a proposed settlement with the Federal Trade Commission addressing allegations CafePress failed to secure personal data and covered up a data breach.
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ArticleBanks face complex compliance risks as they attempt to exit Russia
Once a bank decides to withdraw or wind down its Russian operations, there are a host of thorny compliance issues to navigate in a compressed timeframe, including sanctions implications, money laundering risks, and more.
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ArticleSarah Bloom Raskin withdraws nomination as top banking regulator
Sarah Bloom Raskin, President Joe Biden’s pick to be vice chair for supervision at the Federal Reserve, withdrew her nomination after losing the support of a key Democratic senator.
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ArticleSEC staff warn broker-dealers ‘remain vigilant’ amid market volatility
Amid Russia’s invasion of Ukraine, SEC staff issued a statement warning broker-dealers and other market participants to “remain vigilant to market and counterparty risks that may surface during periods of heightened volatility and global uncertainties.”
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ArticleSEC Commissioner Allison Herren Lee to not seek second term
Allison Herren Lee announced she will not seek a second term as a commissioner at the Securities and Exchange Commission once her current term expires in June.
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ArticleDeutsche Bank monitorship extended after breach of DPA
Deutsche Bank disclosed the Department of Justice determined it breached its obligations under a 2021 deferred prosecution agreement. As a result, the term of an independent compliance monitor at the bank has been extended until February 2023.