All Compliance Week articles in Web Issue – Page 1220
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Article
ICA news program looks at initiatives leading compliance into future
The ICA and ITN Productions Industry News have co-produced “Compliance: the new decade”: a series of reports addressing the role of the compliance professional and the latest insights, challenges, and opportunities for business growth.
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ArticleReport: Median general counsel salary rises again, to $2.6 million
General counsel compensation is steadily on the rise, according to the latest in-house counsel compensation report by Equilar and executive search firm BarkerGilmore. Inside, we also explore what companies seek in a general counsel.
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ArticleBrockmeyer at TPRM: Regulator expectations for monitoring third parties
Former chief of the SEC’s FCPA Unit Kara Brockmeyer shared what regulators are looking for when they assess a company’s relationship with its third parties at Compliance Week’s TPRM Virtual Summit on Thursday.
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ArticleFinCEN seeking comment on AML program overhaul
The Financial Crimes Enforcement Network has proposed a plan to issue AML guidance every two years to encourage financial institutions to align their Bank Secrecy Act compliance programs with the agency’s enforcement priorities.
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Article
FRC fines Deloitte record $19.4M for Autonomy audit failures
The U.K. Financial Reporting Council fined Deloitte a record £15 million (U.S. $19.4 million) for numerous findings of misconduct regarding past audits of British software company Autonomy Corporation.
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ArticleVolkswagen completes monitorship; Deloitte family leave policy too good to be true?
Volkswagen gets a nod this week for successfully completing its 3-year compliance monitorship related to Dieselgate. Deloitte, on the other hand, lands on the wrong side of our list.
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Article
CCO for investment firm altered docs to cover compliance failures, SEC says
A New York investment advisor and broker-dealer firm and its former chief compliance officer have been fined and censured for not fixing compliance failures identified by two federal agencies, then altering documents in an attempt to convince investigators the failures had been addressed.
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ArticleCompliance official key to Comtech sanctions penalty
The alleged actions of an export compliance official are at the heart of “egregious” apparent OFAC sanctions violations by New York-based Comtech Telecommunications Corp. and its wholly owned subsidiary regarding sales in Sudan.
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ArticleFormer Rite Aid compliance exec charged with insider trading
Armed with insider information about problems with a merger with Walgreens, a Rite Aid compliance executive who oversaw its corporate code of conduct sold company stock to save himself and his family over $150,000, according to the SEC.
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ArticleRecent OCC case shows widespread liability when a BSA program fails
Who faces liability when a Bank Secrecy Act program is deemed to be deficient? A series of recent enforcement actions taken by the OCC against individuals at a now-defunct New Jersey bank provides a case study.
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ArticleCarreyrou at TPRM: Theranos warning signs were there, but partners failed to spot them
John Carreyrou explained to third-party risk professionals at CW’s TPRM Virtual Summit that the mistakes made by Theranos’s business partners were entirely preventable—had they done their proper due diligence.
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ArticleSwedbank being investigated for suspected market abuse
Swedbank announced the Swedish Financial Supervisory Authority has opened an investigation into the bank for potential violations of the regulation on market abuse in connection to the disclosure of suspected money laundering.
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Article
AdaptHealth adds first chief accounting officer
AdaptHealth Corp., a provider of home medical equipment, supplies, and related services, announced the appointment of Frank Mullen to the newly created position of chief accounting officer.
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Article
USA Technologies names chief accounting officer
Cashless payment services firm USA Technologies announced the appointment of Scott Stewart as chief accounting officer.
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Article
Carnival taps compliance and ethics chief to lead investigations
Global cruise line operator Carnival Corp. announced the appointment of Peter Hutchison as senior vice president, deputy chief ethics and compliance officer. Hutchison will lead Carnival’s Incident Analysis Group.
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ArticleVisa appoints new chief compliance officer
Payment services giant Visa this month appointed Obiamaka Madubuko as its new chief compliance officer.
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ArticleLesson for startups: Don’t try to fake compliance
Promising startups are often cut slack with compliance because investors feel they will eventually make it, but the time in between is ripe with dangers that extend well beyond the company, writes Martin Woods.
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Article‘FinCEN Files’ report casts compliance officers in unfair light
The BuzzFeed “FinCEN Files” investigation purportedly uncovered evidence of a catastrophic, international collapse of internal controls within the world banking system. But that argument is misleading, to the point of being disingenuous.
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Resourcee-Book: Mind the Gap — Where Third-Party Risk Management Programs Fall Short
This e-Book from Compliance Week and Aravo reveals the results of the “2020 TPRM Benchmarking Survey.”
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ArticleFinCEN leaks damage trust between banks and regulators, but serve higher purpose
The “FinCEN Files” leaks divided opinions within the community of financial crime compliance officers. Trust has been damaged, writes Martin Woods, but these leaks could facilitate real reform.