All United States articles – Page 206
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ArticleNRA shot itself in foot with poor compliance commitment
The New York Attorney General’s lawsuit to dissolve the National Rifle Association might not play out as intended, but it nevertheless exposes a number of systemic compliance flaws at the organization that appear to still need to be addressed.
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ArticleTreasury sanctions 11 individuals for undermining Hong Kong’s autonomy
The U.S. Department of the Treasury announced sanctions against 11 individuals for “undermining Hong Kong’s autonomy and restricting the freedom of expression or assembly of the citizens of Hong Kong.”
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ArticleQ&A: IIA president Chambers on Three Lines update, COVID-19, more
In the wake of drastic updates to the “Three Lines Model” for managing risk, IIA President and CEO Richard Chambers catches up with Compliance Week to discuss the changes, how COVID-19 has impacted the internal audit profession, and more.
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ArticleInteractive Brokers to pay $38M for SAR, AML failures
Interactive Brokers has agreed to pay $38 million in settlements with three regulatory agencies related to anti-money laundering lapses, including repeated failures regarding the filing of suspicious activity reports.
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ArticleMcDonald’s whistleblower leads to lawsuit against fired CEO
An anonymous whistleblower’s complaint alleging sexual misconduct by fired McDonald’s CEO Steve Easterbrook prompted the company to file a lawsuit attempting to claw back some of the $41 million severance package it paid upon his ouster.
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ArticleOCC fines Capital One $80M over 2019 data breach
Capital One and Capital One Bank (USA) were fined $80 million for failing to establish sound risk management processes and internal controls related to the company’s data breach last year.
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ArticleDespite pandemic, ‘time to act is now’ on LIBOR transition
Focus on LIBOR transition may have slipped during the coronavirus pandemic, but the recent conversation among regulators is once again looking toward life after the soon-expiring reference rate.
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ArticleNew York AG cites ‘culture of noncompliance’ in NRA fraud lawsuit
Central to the New York Attorney General’s lawsuit seeking to dissolve the National Rifle Association are allegations that the nonprofit’s “culture of noncompliance” allowed EVP Wayne LaPierre and three other NRA officers to steal $64 million from the organization over three years.
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FASB ASU simplifies liabilities, equities guidance
The Financial Accounting Standards Board finalized changes to accounting standards meant to simplify complexities surrounding liabilities and equities.
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ArticleWorld Acceptance Corp. to pay $21.7M to resolve SEC FCPA case
World Acceptance Corp., a small-loan consumer finance company, has agreed to pay $21.7 million to resolve Securities and Exchange Commission charges for violations of the Foreign Corrupt Practices Act.
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ArticleEight years later, Zimmer Biomet FCPA case ends
Zimmer Biomet Holdings disclosed in a regulatory filing it has reached the end of its monitorship, eight years after resolving parallel settlements with the DOJ and SEC for violations of the Foreign Corrupt Practices Act.
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ArticleSEC Enforcement Co-Director Steven Peikin to step down
The co-director of the Securities and Exchange Commission’s Division of Enforcement will step down from his post next week, after three years on the job.
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ArticleDon’t wait for Congress to save your firm from coronavirus liability
If you are an employer hoping Congress will pass a “coronavirus liability shield” bill to help your company deflect COVID-19 lawsuits, consider this: No such “shield” will do much good unless you’ve already taken action to create a safe workplace.
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ArticleTwitter could face up to $250M FTC fine for misuse of data
Twitter disclosed in a regulatory filing that it could face fines of up to $250 million by the Federal Trade Commission for misusing people’s personal information for advertising purposes.
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ArticlePCAOB: Increased audit communication a silver lining of pandemic
The PCAOB’s latest “Conversations with Audit Committee Chairs” update highlights the benefits committee chairs say they have gleaned from increased communications with auditors during the coronavirus pandemic.
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ArticleConn. investment firm fined $100K for trading, compliance failures
A small Connecticut investment firm has agreed to pay a $100,000 fine to settle charges levied by the Securities and Exchange Commission regarding unfair trade allocation and accompanying compliance failures.
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ArticleSen. Grassley to propose whistleblower-friendly FCA amendments
Sen. Chuck Grassley (R-Iowa) is working on legislation that would amend the False Claims Act in a way he says would strengthen the law’s core purpose of helping whistleblowers shine the light on wrongdoing and fraud.
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ArticleBausch Health to pay $45M for misleading disclosures
The Securities and Exchange Commission charged Bausch Health (formerly Valeant Pharmaceuticals) and three former executives for improper revenue recognition and misleading disclosures in SEC filings and earnings presentations.
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ArticleAdvice for compliance from new DOJ Criminal Division head
Acting Justice Department Criminal Division head Brian Rabbitt shares his perspective on recent updates to the Evaluation of Corporate Compliance Programs guidance, the FCPA Resource Guide, and more.
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ArticlePG&E names new CECO amid leadership shuffle
PG&E Corp. is shaking up its management team, including the impending appointment of John Simon as executive vice president, general counsel and chief ethics & compliance officer.