All Compliance Week articles in Web Issue – Page 1336
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ArticleBarclays fined $10.2M over EU interchange fee violations
Barclays was fined £8.4 million (U.S. $10.2 million) by the U.K.’s Payment Systems Regulator for failing to provide retailers with complete information about the costs of the card services it supplied.
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ArticleAT&T to pay record $6.25M in Reg FD case
AT&T agreed to pay $6.25 million as part of a settlement with the Securities and Exchange Commission addressing allegations three of its executives fed sensitive financial information to Wall Street research analysts and not investors.
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Resourcee-Book: Effective beneficial ownership searches leverage technology
Determining the ultimate beneficial owner of individuals and companies your firm does business with can be a tricky thing.
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ArticleClubhouse app operator fined $2M for GDPR violations
Alpha Exploration, operator of the social media app Clubhouse, received a penalty from the Italian data protection authority for the unlawful processing of EU citizens’ data in violation of the General Data Protection Regulation.
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Article
SEC risk alert notes compliance issues regarding ID theft rule
The Division of Examinations at the Securities and Exchange Commission issued a risk alert detailing recent issues observed by inspectors regarding compliance with the agency’s identity theft red flags rule, Regulation S-ID.
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ArticleGlencore to pay $180M in DRC corruption case
Commodity trading and mining company Glencore agreed to pay $180 million to the government of the Democratic Republic of the Congo to settle claims arising from alleged corrupt practices that took place for more than a decade.
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ArticleU.S. law to stop Uyghur forced labor remains compliance challenge
It’s been six months since the Uyghur Forced Labor Prevention Act took effect, and businesses are no clearer today on how to comply with it, those familiar with the law said.
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ArticleThree KPMG firms disciplined in $7.7M enforcement sweep
The Public Company Accounting Oversight Board announced $7.7 million in total penalties against three separate KPMG firms and four individuals for varying violations of audit standards and ethical rules, including alleged exam cheating.
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Article
First Foundation promotes chief risk officer to banking head
Financial services company First Foundation announced Hugo Nuño will serve in the newly created role of executive vice president, chief banking officer.
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NextPlat names chief compliance officer
Global e-commerce provider NextPlat Corp. announced the hiring of Robert Bedwell as chief compliance officer.
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Neptune Flood appoints chief risk officer
Neptune Flood Insurance announced the appointment of Matthew Duffy as chief risk officer.
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VEON adds group diversity and inclusion officer
Dutch telecommunication services company VEON announced Ana de Kok-Reyes will serve in the newly established role of group diversity and inclusion officer.
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PremiumTPRM Summit: Experts discuss FCPA lessons learned from ABB settlement
A panel on regulatory trends at CW’s virtual TPRM and Oversight Summit discussed lessons for compliance departments seeking to learn how to guard themselves against bad actors within their own firms contained in ABB’s recent $327 million bribery settlement.
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Ex-Weber Shandwick CFO imprisoned 4-plus years for embezzlement
The former chief financial officer and chief operating officer of public relations firm Weber Shandwick was sentenced to more than four years in prison and ordered to pay more than $26 million for a nearly decade-long embezzling scheme.
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ResourceSurvey Report: Measuring the impact of code of conduct training
In the past, compliance training was regarded by companies as optional. Organizations can no longer afford to take that view.
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Two Point Capital, CEO dinged $100K for compliance procedure lapses
Two Point Capital Management and its CEO John McGowan were fined a total of $100,000 by the Securities and Exchange Commission for failing to adopt and implement policies and procedures tailored to guide the firm’s compliance with federal securities law.
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ArticleChallenges for SPACs: Public company, now what?
Special purpose acquisition company transactions have unique risks and require awareness of what it takes to operate as a public business. Internal controls, governance, technology, and more are essential.
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ArticleRabobank probed by Dutch prosecutors over potential AML violations
Rabobank, the second largest bank in the Netherlands, is being investigated by the Dutch Public Prosecution Service for potential violations of the country’s anti-money laundering/countering the financing of terrorism law.
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VideoABAC and AML issues overview
This session from Compliance Week’s 2022 virtual Third-Party Risk Management & Oversight Summit features Phil Palmer, ethics and compliance program manager at Shell UK, moderating a discussion with Frederick Ratliff, managing counsel ABC AML at Shell US, and Preeti Wadhawan, regional head of compliance – India, APAC & MEA at ...
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VideoUsing data analytics to identify third-party risks
This session from Compliance Week’s 2022 virtual Third-Party Risk Management & Oversight Summit features Michael Rickman, former vice president of compliance and ethics at Goodyear, moderating a discussion with NS Rao, integrated risk management principal at Workiva, and Ali Ikram, chief operating officer for the office of ethics and compliance ...