All Compliance Week articles in Web Issue
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ArticleWells Fargo to pay $3B to resolve fake account scandal
The Department of Justice and Securities and Exchange Commission on Friday assessed total civil and criminal penalties of $3 billion against Wells Fargo Co. and its subsidiary, Wells Fargo Bank, in the aftermath of its fake account scandal.
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Proposed EU data strategy spells big changes for Big Tech
The European Commission unveiled its long-awaited plans about how it wants to regulate artificial intelligence as well as promote greater data sharing throughout the EU to stimulate further growth and competition in digital services.
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Resurgent BIPA more than second fiddle to CCPA?
The California Consumer Privacy Act seems to be in the spotlight lately, but the Illinois Biometric Information Privacy Act should not be overlooked.
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FRC to review how U.K. companies, auditors address climate change
The U.K. Financial Reporting Council announced it will begin reviewing the extent to which U.K. companies and auditors are responding to the impact of climate change to ensure reporting requirements are being met.
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Compliance lessons from Julius Baer’s ‘serious AML failings’
Compliance officers can learn a lot from the anti-money laundering compliance shortcomings at Julius Baer Group, as well as from what the bank is now doing to enhance its risk management and AML compliance controls.
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Diageo to pay $5M for disclosure failures
Alcohol producer Diageo has agreed to pay $5 million to resolve charges brought against it by the SEC for disclosure failures, due to weaknesses in its internal disclosure processes.
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Ireland GDPR caseload nearly doubled in 2019
The Irish Data Protection Commission received 7,215 complaints during the first full year the General Data Protection Regulation was in force, representing a 75 percent increase on 2018’s figures of just over 4,000.
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Reports: Bieber, Twitter’s Dorsey among 10.6M affected by MGM Resorts hack
Pop star Justin Bieber and Twitter CEO Jack Dorsey were among 10.6 million MGM Resorts guests to have their personal information exposed in a data breach last year, according to multiple reports.
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DOJ antitrust official defends compliance credit initiative
A high-ranking member of the Department of Justice’s Antitrust Division addresses a recent policy change that evaluates corporate compliance programs as a potential leniency factor in antitrust cases.
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Former Alstom, Marubeni execs face FCPA charges in bribery scheme
The Department of Justice unsealed an indictment against three more individuals for their role in a multi-year, multi-million-dollar foreign bribery scheme and related money-laundering scheme in Indonesia.
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Treasury sanctions Rosneft subsidiary for Venezuelan ties
The Department of the Treasury’s Office of Foreign Assets Control has sanctioned a subsidiary of Russian state-run oil company Rosneft for operating in the oil sector of the Venezuelan economy.
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CCOs face SEC charges over conflicts of interest
Two chief compliance officers—one former, one current—are facing charges from the SEC as part of a lawsuit filed against a California-based investment advisory firm over failure to disclose financial conflicts of interest.
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SEC: Potential impact of coronavirus on audit quality
The SEC and PCAOB have issued a joint statement updating their recent conversations with audit firm leaders on audit quality oversight challenges in China, including the potential impact of the coronavirus on financial disclosures and audit quality.
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Tax planning opportunities for 2020 lead to potential tax savings
Grant Thornton has released guidance on tax planning for both public and private companies to help them get started by asking the right questions.
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Whistleblowers finding system stacked against them
Are whistleblowers getting the short end of the stick? A recent case highlights one way in which the process for government rewards might be perceived as unfair.
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Sen. Gillibrand floats agency to oversee U.S. privacy
Senator Kirsten Gillibrand (D-N.Y.) has introduced legislation to create a “Data Protection Agency” in the United States in order to oversee and enforce federal privacy mandates.
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SeaWorld Entertainment to pay $65M in shareholder class action
SeaWorld Entertainment disclosed in a recent regulatory filing it has reached a $65 million settlement to resolve a class-action lawsuit over allegations investors were misled about the impact of the 2013 documentary film Blackfish .
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Bombardier’s compliance program progressing, says review
A recent review of Bombardier’s compliance policies and procedures details how the Canadian multinational aerospace and transportation company is “working towards having a best-in-class program.”
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Antitrust Division remarks on changes to model corporate plea agreement
The DOJ’s Antitrust Division last year quietly updated language contained in its “Model Annotated Corporate Plea Agreement,” as it applies to cooperation. Recent remarks provide more color around those changes.
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Tesla: One SEC investigation ends; another begins
Electric car maker Tesla announced in a regulatory filing that the Securities and Exchange Commission has closed a previously announced investigation while also launching another, this time into Tesla’s financing arrangements.
