All United States articles – Page 177
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ArticleSurvey: In-house counsel salary increases down amid pandemic
In-house counsel salaries across every industry took a hit in 2020 as a direct result of the coronavirus pandemic’s impact, according to the latest compensation survey by executive search firm BarkerGilmore.
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ArticleCCO settles SEC charges of causing firm to breach fiduciary duties
The SEC announced settled charges with the chief compliance officer of investment adviser VII Peaks Capital for her alleged role in causing the firm to breach fiduciary duties.
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ArticleSEC ousts PCAOB head William Duhnke; larger overhaul planned
SEC Chair Gary Gensler removed William Duhnke III as head of the PCAOB while also announcing plans to replace the entire board of the audit regulator.
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ArticleBiden memo establishes fighting corruption as national security priority
A new directive released by President Biden instructs U.S. federal agencies to make combating corruption a national security interest. Compliance practitioners in the financial services industry, particularly, may feel the ripple effect
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Article‘FinCEN Files’ source sentenced to 6 months in prison for disclosing SARs
Natalie Mayflower Sours Edwards, a former senior advisor at FinCEN who provided 2,100 SARs to BuzzFeed News that would form the basis of 2020’s “FinCEN Files” investigation, was sentenced to six months in prison.
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ArticleSEC pauses proxy voting rule enforcement amid review
SEC Chairman Gary Gensler announced he is directing staff to consider whether to recommend further regulatory action regarding proxy voting advice, leading the agency to pause related enforcement activity.
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ArticleNYC Bar framework seeks clarity on when CCOs face SEC charges
The New York City Bar Association has proposed a framework for regulators like the SEC to use when considering charging chief compliance officers for misconduct that occurs on their watch.
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ArticleOFAC bills Bulgarian sanctions as ‘single largest action targeting corruption’
Calling it the “single largest action targeting corruption to date,” the Office of Foreign Assets Control sanctioned three prominent Bulgarian individuals along with their network of 64 companies for their “extensive roles” in corruption in Bulgaria.
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ArticleEU probes of Microsoft, Amazon reignite calls for new Privacy Shield
European investigations into whether Amazon and Microsoft’s cloud-based services infringe EU privacy rules have once again shone a spotlight on how—and when—the United States and the European Union intend to come up with a new Privacy Shield.
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ArticleAssessing yet another ransomware attack on critical supplier (JBS)
Meatpacker JBS USA has become the latest critical infrastructure company to be targeted by a ransomware attack, which temporarily halted its global operations. The attack brings with it implications for the food and agriculture industries.
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ArticleSenate steps in to save CFTC’s whistleblower program
In an attempt to save the whistleblower program at the CFTC, the Senate approved a bill to create a separate fund to pay whistleblowers rather than having the office draw on penalties levied against wrongdoers.
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ArticleCalif. judge dismisses bribery charge against Apple security chief (and former CCO)
A bribery charge against Apple’s chief security officer was dropped by a California Superior Court judge, citing a lack of evidence.
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ArticleColonial Pipeline fallout: Thwarting ransomware attacks requires collective defense
President Biden’s executive order on cyber-security largely applies to federal agencies. But its core message—that the public and private sectors must collectively defend against increasingly malicious ransomware attacks—should not be lost on companies.
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ArticleEmbracing employee activism is good for business
The benefits of being perceived as a company that values employee input might outweigh the drawbacks, experts believe.
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SEC, CFTC charge LJM for mishandling $1B in assets; chief risk officer settles
The SEC and CFTC filed charges against investment management firm LJM and two portfolio managers for misleading investors about the company’s risk management practices. Each agency separately reached settlements with LJM’s chief risk officer for his role in the alleged scheme.
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ArticleCECL roundtable explores implementation issues during COVID
How the Financial Accounting Standards Board’s CECL standard fared during the height of the pandemic and more were discussed as part of a virtual roundtable.
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ArticleJulius Baer pays $80M in FIFA corruption settlement
Swiss bank Julius Baer entered a deferred prosecution agreement and will pay $80 million for its role in a money laundering conspiracy linked to world soccer federation FIFA, the Department of Justice announced.
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ArticleReport: DOJ launches investigation into Archegos collapse
The Department of Justice has reportedly launched an investigation into the collapse of Archegos Capital Management, which cost multiple big banks billions of dollars.
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ArticleAustrian banker arrested for role in Odebrecht-related scheme
The former CEO of an Austrian bank was arrested in the United Kingdom on criminal charges for his alleged role in a massive money laundering scheme involving Brazil-based global construction conglomerate Odebrecht.
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ArticleESG materiality, disclosures spur opposing views at SEC
The SEC has taken numerous steps indicating its intention to require public companies to disclose ESG risks, but the question of how such disclosures will work in practice is still very much unanswered.