All Compliance Week articles in Web Issue – Page 1299
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ArticleEricsson mum on Iraq misconduct amid ‘comprehensive review’
Ericsson has launched a sweeping review into evidence it uncovered regarding misconduct in Iraq and the subsequent disclosure of those findings after the Department of Justice warned the Swedish telecom of a second breach of its 2019 deferred prosecution agreement.
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ArticleReport: Number of AML fines up, penalty totals down in 2021
The number of anti-money laundering fines assessed against financial institutions globally reached its highest amount in six years during 2021, though the penalty amounts associated with those enforcement actions dropped notably, according to Kroll’s annual benchmark report.
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ArticleMomentum building toward Privacy Shield replacement?
Recent comments by EU and U.S. lawmakers and insights from privacy experts suggest a new mechanism to replace the defunct Privacy Shield and ensure safe transatlantic data transfers might soon be introduced.
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Ocugen appoints chief accounting officer
Ocugen, a clinical-stage biopharmaceutical company, announced the appointment of Jessica Crespo as chief accounting officer and senior vice president, finance.
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Trulioo names first chief compliance officer
Trulioo, a global identity verification company, announced the appointment of Reno Mathews as its first chief compliance officer.
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ArticleSEC adds Weibo to HFCAA watchlist
The Securities and Exchange Commission added Chinese social media giant Weibo Corp. to its list of companies not in compliance with the Holding Foreign Companies Accountable Act.
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ArticleHow to prepare for SEC’s climate-related disclosure rule
The Securities and Exchange Commission’s proposed climate-related disclosure rule would force companies that have been reluctant to initiate a self-examination of their environmental impact to do so, posthaste. Experts weigh in on where to start.
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ArticleNew ICO head strives for reassurance in first speech
John Edwards, head of the U.K. Information Commissioner’s Office, said he wants to bring greater certainty for companies regarding their data compliance needs, especially if the government’s drive to reduce regulatory burdens results in the EU withdrawing its data adequacy decision.
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SEC names new acting head of Division of Examinations
Richard Best will become acting director of the Division of Examinations at the Securities and Exchange Commission, following the announced departure of Daniel Kahl.
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ArticleJudge ends ZTE probation after 5 years
A U.S. district court judge agreed to end ZTE’s five-year probation following the Chinese telecommunications company’s 2017 guilty plea for violating Iran sanctions.
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ArticleSFO dealt blow after second Unaoil conviction overturned
The U.K. Serious Fraud Office was dealt another blow after Paul Bond, a former sales manager at Dutch energy services company SBM Offshore, had his 42-month jail sentence overturned because the agency failed to disclose vital evidence in its Unaoil case.
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ArticleThird time’s the charm? Agreement in principle reached on U.S.-EU data flows
The United States and European Union have reached an agreement in principle on how to handle transatlantic data flows, a thorny issue that has resulted in two prior frameworks being scrapped by the EU’s top court.
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ArticleKenneth Polite to deliver keynote at Compliance Week 2022
Kenneth Polite Jr., head of the Department of Justice’s Criminal Division and a former chief compliance officer, will deliver a morning keynote at Day 2 of Compliance Week’s National Conference in Washington, D.C. from May 16-18.
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ArticleFive insights gleaned from PCAOB audit committee chair report
The Public Company Accounting Oversight Board published its annual report highlighting feedback received from its discussions with audit committee chairs at U.S. public companies during the previous year.
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ArticleExperts optimistic, though wary, toward Privacy Shield successor
Legal and data privacy experts have expressed cautious optimism regarding the announcement that the United States and European Union have reached an agreement in principle to resume transatlantic data flows.
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ArticleU.S. lawmakers question Credit Suisse over Russian sanctions compliance
Two members of the House Committee on Oversight and Reform requested Credit Suisse provide information regarding its compliance with U.S. sanctions against several Russian oligarchs, following a media report the Swiss bank requested some documents be destroyed.
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ArticleFASB finalizes update to hedge accounting layering method
The Financial Accounting Standards Board issued an update designed to further align its derivatives and hedging standard with risk management strategies employed by organizations.
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ArticleUkrainian telecom victim of ‘powerful’ cyberattack
Ukrainian telecommunications company Ukrtelecom is in the process of restoring its services after a “powerful” cyberattack wreaked havoc on its operations.
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ArticlePCAOB whistleblower program bill reintroduced to Congress
A bill that proposes to create a whistleblower program for the Public Company Accounting Oversight Board has been reintroduced to the House after failing to be acted upon by the Senate in 2019.
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ArticleNew-look CFTC hails diversity after four commissioners confirmed
The Commodity Futures Trading Commission will feature its “most diverse set of commissioners in the agency’s history” after the Senate confirmation of four nominees—all women, and three women of color—to vacant board seats.