All United States articles – Page 192
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ArticleYellen, regulators say market withstood pressure from GameStop surge
A key meeting of regulators has determined the recent spike caused by Reddit users for normally tame stocks like GameStop and AMC Entertainment has not had a significant impact on the market, which Treasury Secretary Janet Yellen termed “resilient.”
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SEC: GPB Capital operated ‘Ponzi-like’ scheme, retaliated against whistleblower
GPB Capital Holdings allegedly defrauded more than 17,000 retail investors in a Ponzi-like scheme, then attempted to impede an employee from blowing the whistle on the illegal practices, according to the SEC.
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ArticleMcKinsey to pay $573M for role in opioid epidemic
McKinsey & Company reached a $573 million settlement with 49 state attorneys general and the District of Columbia related to consulting services it provided to pharmaceutical companies that directly contributed to the opioid epidemic.
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ArticleTreasury head Yellen calls regulators together to discuss market volatility
Treasury Secretary Janet Yellen will meet with the heads of several regulatory agencies to discuss potential responses to the wild swings in value of GameStop and several other stocks.
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ArticleGoldman Sachs 1MDB fallout a case study for bonus risks
As Goldman Sachs cuts the pay of its top executives in response to more than $5 billion in penalties incurred for the 1MDB scandal, Martin Woods once again ponders whether bonuses helped facilitate the improper conduct that took place.
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Former WageWorks CEO, CFO settle SEC accounting violation charges
The Securities and Exchange Commission charged two former executives of WageWorks with making false and misleading statements and omissions that resulted in the improper recognition of $3.6 million in revenue.
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ArticleFDIC fines Apple Bank $12.5M for AML compliance failures
The Federal Deposit Insurance Corporation has fined Apple Bank for Savings $12.5 million for violations of the Bank Secrecy Act related to anti-money laundering controls.
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ArticleSolarWinds hack turning into Pandora’s box of cyber-risk
The more we learn about the SolarWinds hack, the more troubled compliance officers should be by the scope and breadth of the risks their companies might have incurred.
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ArticleRecently penalized USAA adds chief risk officer
USAA announced the appointment of Neeraj Singh as chief risk officer nearly four months after its federal savings bank was fined $85 million by the OCC for compliance risk management failures.
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ArticleNew SEC senior advisor will specialize in climate change, ESG
The acting chair of the Securities and Exchange Commission has created a new senior policy advisor position on climate change and ESG, another signal the agency will prioritize both areas under a Biden administration.
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ArticleH.B. Fuller avoids fine in OFAC Iran sanctions probe
Adhesive manufacturing company H.B. Fuller said in a regulatory filing it received a “cautionary letter” from the Office of Foreign Assets Control concerning possible economic sanctions dealings in Iran.
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ArticleNYDFS regulation a best-practices model for cyber-security training
Companies must make cyber-security a continuous priority as threats evolve, often more quickly than the technology and regulations to counter them. That’s why the New York Department of Financial Services, under Maria Vullo, developed a policy that should act as a model for organizations.
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ArticleFacebook names Henry Moniz as first-ever chief compliance officer
Facebook has hired Henry Moniz, executive vice president and chief compliance officer at ViacomCBS, to be the social media giant’s first-ever CCO.
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Athenahealth settles kickback case for $18.25M
The Department of Justice announced an $18.25 million settlement with electronic health records technology vendor athenahealth for allegedly paying unlawful kickbacks to generate sales.
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ArticleTransparency International index: Pandemic tests anti-corruption efforts
Corrupt activity bolstered by the coronavirus pandemic features heavily in the findings of Transparency International’s 2020 Corruption Perceptions Index, with even some of the highest-scoring countries having their share of challenges.
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ArticleCompliance lessons from GameStop market insanity
Wall Street has been consumed this week watching a real-time battle unfold between retail investors and hedge funds over formerly moribund stocks like GameStop, AMC Entertainment, and BlackBerry. The compliance lessons lie in the levels of risk.
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ArticleA risk management perspective on GameStop stock surge
Actions taken by Robinhood and TD Ameritrade amid the crazy GameStop stock surge can be understood from the perspective of risk management, but who’s watching out for the retail investors? That’s where the real risks lie.
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SEC charges Vuuzle Media with $14M securities fraud
The Securities and Exchange Commission charged streaming service Vuuzle Media Corp. and its founder with fraudulently offering over $14 million in securities via a boiler room scheme.
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ArticleTreasury under Yellen to prioritize climate change, sanctions, AML reform
Janet Yellen takes over as leader of a Treasury Department with a lot on its plate, including studying the effects of climate change on the economy, unwinding Trump administration sanctions, revamping the Bank Secrecy Act, and more.
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ArticleFinCEN again extends comment period for controversial crypto AML rules
The Financial Crimes Enforcement Network for a second time has extended the comment period for portions of its proposed AML rules aimed at peeling back the anonymity of certain kinds of cryptocurrency transactions.