All Compliance Week articles in Web Issue – Page 1322
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Article
UPS DEI chief to retire; HR head to take on added role
With longtime Executive Vice President and Chief DEI Officer Charlene Thomas set to retire, UPS announced EVP and Chief Human Resources Officer Darrell Ford will take on the added role.
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ArticlePwC lawsuit prompts reconsideration of after-hour work events
Big Four audit firm PwC is being sued by one of its employees for more than £200,000 (U.S. $234,000) after he injured himself at a post-work drink event in 2019. The incident is not the first where “team-bonding” efforts have proven problematic.
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Article
Court orders $2M from Ambassador Advisors and execs, including CCO
Ambassador Advisors and three of its executives, including its chief compliance officer, must pay a total of more than $2 million for failing to disclose conflicts of interest related to fees received from mutual fund share classes selected for clients.
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ResourceWhite paper: Future-proofing your investment compliance
Seismic change is afoot for asset managers’ investment compliance programs given the significant uplift in SEC proposed rules for investor protection combined with demands for greater transparency.
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ArticleOCC names chief climate risk officer to lead new office
The Office of the Comptroller of the Currency has reinforced its commitment to confronting risks posed by climate change with the appointment of Yue (Nina) Chen as chief climate risk officer.
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ArticleNAVEX survey: Remote work, whistleblower trends to test speak-up cultures
Maintaining a speak-up culture requires increased attention from businesses with many employees still working remote, putting more of an onus on the reporting function, according to the latest NAVEX study.
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ArticleVMware to pay $8M to settle SEC charges over misleading financials
Cloud services provider VMware will pay $8 million to settle allegations from the Securities and Exchange Commission it misled investors by hiding its lagging financial performance.
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ArticleBNY Mellon, 2 others settle with SEC in landmark municipal bonds cases
The Securities and Exchange Commission charged four underwriters with failing to satisfy exemption requirements related to limited offerings of municipal bonds—the first time the agency has taken such an action.
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Article
DOJ gets guilty plea in first crypto insider trading case
Nikhil Wahi, brother of former Coinbase product manager Ishan Wahi, pleaded guilty to one count of wire fraud conspiracy as part of the Department of Justice’s first case regarding the insider trading of cryptocurrency assets.
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ArticleGermany strives for coordination in enhanced AML efforts
Germany has unveiled plans to tackle financial crime more effectively by creating a new federal authority to strengthen enforcement and improve coordination among the country’s current supervisors, of which there are more than 300.
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Article
PCAOB vet Mark Adler returns to lead enforcement
The Public Company Accounting Oversight Board announced the appointment of Mark Adler as acting director of its Division of Enforcement and Investigations.
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ArticleHay & Watson loses PCAOB registration over altered audit docs
Canadian public accounting firm Hay & Watson had its registration permanently revoked and must jointly pay a fine of $50,000 along with its owner for violating Public Company Accounting Oversight Board rules and standards and failing to cooperate with an inspection.
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Article
Berkshire Hills Bancorp appoints chief compliance officer
Berkshire Hills Bancorp, the parent company of Berkshire Bank, announced the appointment of Ashlee Flores as executive vice president and chief compliance officer.
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Article
WillowTree names chief diversity officer
WillowTree, a digital product consultancy service, announced the appointment of Kelli Palmer as chief diversity officer.
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Article
loanDepot appoints chief risk officer
Consumer lending and real estate services provider loanDepot announced the appointment of Joseph Grassi as chief risk officer.
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Article
Prosperity Bank to pay $19K in first PPP lender false claims settlement
Houston-based Prosperity Bank will pay approximately $18,700 to resolve allegations it processed a Paycheck Protection Program loan for an ineligible recipient in what is believed to be a landmark False Claims Act settlement.
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ArticleEx-CEO of environmental consultant imprisoned 3 years for false reports
DiAne Gordon, the former CEO and co-owner of Environmental Compliance & Testing, was sentenced to three years in prison for fabricating water quality reports that were sent to state environmental agencies.
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ArticleLoop Capital fined $100K over municipal adviser registration violations
The Securities and Exchange Commission for the first time punished a broker-dealer—Chicago-based Loop Capital Markets—for providing advice to a municipal entity without registering with the agency as a municipal adviser.
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Article
Bramshill Investments promotes compliance director to CCO
Asset management firm Bramshill Investments announced the promotion of Senior Director of Compliance Mona Daruwala to chief compliance officer.
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Article
Kelly Services adds chief diversity officer
Kelly Services, a recruitment and staffing company, announced the promotion of Vice President of Vertical Lead Keilon Ratliff to chief diversity officer.