All Compliance Week articles in Web Issue – Page 1381
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News Brief
Plug Power settles with SEC over accounting woes; warned of added $5M fine
Plug Power was fined $1.25 million as part of a settlement with the Securities and Exchange Commission over alleged accounting failures that the company agreed to fully remediate within one year or face an additional penalty.
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PremiumLarge companies in crosshairs early under German Supply Chain Act
Amazon, IKEA, and Volkswagen were among the companies targeted in the first round of complaints under the German Supply Chain Due Diligence Act—an early indication nongovernmental organizations will seek to hold big businesses accountable for alleged human rights violations.
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News Brief
FCPA opinion shines light on reasonable expenses for foreign officials
A Foreign Corrupt Practices Act review published by the Department of Justice offers further clarity around when the agency would determine expenses paid on behalf of a foreign official to be deemed “reasonable and bona fide.”
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News BriefFCA to review treatment of U.K.-based PEPs
The Financial Conduct Authority announced the scope of its review into the treatment of U.K.-based politically exposed persons, the latest development in response to the Nigel Farage “debanking” scandal.
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PremiumQ&A: Zeta CCO on leading innovation with compliance
Karla Booe, chief compliance officer for Zeta Services, discusses with Compliance Week how the card processor bakes compliance into its decision-making process for new technologies and product offerings.
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News BriefSwitzerland floats AML reforms for beneficial ownership, legal advice
The Swiss government launched consultation proceedings on a series of reforms designed to combat money laundering and terrorist financing occurring within the country’s financial system.
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News BriefDiscover sued by investors over lax compliance procedures
Discover Financial Services faces a class-action lawsuit from investors alleging materially false and misleading statements regarding its business, operations, and compliance policies.
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News Brief
Prime Group to pay $20.6M in SEC fee disclosure case
Prime Group Holdings agreed to pay $20.6 million as part of a settlement with the Securities and Exchange Commission resolving allegations it failed to adequately disclose it paid millions of dollars in fees to a real estate brokerage firm owned by its CEO.
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PremiumFrom 5 to 11: Keeping up with new state data privacy laws
If multi-state businesses thought at the start of 2023 complying with a patchwork of U.S. state privacy laws was going to be a lot of work, now they must be overwhelmed. Experts assess the fast-evolving U.S. privacy landscape.
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Blog
Pax8 appoints first chief compliance officer
Information technology and cloud services provider Pax8 announced the appointment of Mary Gill as its first chief compliance officer.
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Blog
Ceribell names general counsel
Medical device company Ceribell announced the appointment of Louisa Daniels as general counsel.
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Blog
Scotiabank promotes CRO to group head and chief risk officer
Scotiabank announced the promotion of Chief Risk Officer Phil Thomas to group head and chief risk officer.
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Blog
Sierra Bancorp appoints chief risk officer
Sierra Bancorp, the parent company of Bank of the Sierra, announced the appointment of Natalia Coen to executive vice president and chief risk officer.
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ResourceWhite paper: Raising the bar on risk management
The technologies and approaches that enterprises use to manage risk and compliance have evolved—and this evolution is creating a moment of opportunity.
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News BriefSEC fines five in latest custody rule sweep
The Securities and Exchange Commission announced penalties against five investment advisers as part of its second targeted sweep regarding violations of its custody rule and Form ADV requirements.
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News BriefVerizon unit to pay $4.1M in cybersecurity false claims case
Verizon Business Network Services agreed to pay approximately $4.1 million to settle allegations levied by the Department of Justice regarding false claims caused by failure to fully implement cybersecurity controls required of a government contractor.
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PremiumPaying ransom to avoid GDPR fine an unwise gambit
Companies that think paying reduced ransomware demands would be a better move than informing regulators of a data breach and facing enforcement are playing with fire, according to experts.
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News BriefSEC risk alert warns investment advisers over exam determinations
How the Securities and Exchange Commission determines which investment advisers to inspect and what areas those examinations typically cover were among subjects addressed in a new risk alert released by agency staff.
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WebcastCPE Webcast: Seven practical tips for ongoing third-party risk monitoring
Are you staying vigilant when it comes to third-party risk? With more businesses relying on external third parties, it’s critical to monitor third-party risk on an ongoing basis.
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News BriefSEC fines Fluor $14.5M over accounting lapses
Engineering and construction company Fluor Corp. agreed to pay $14.5 million to settle allegations by the Securities and Exchange Commission that accounting deficiencies led to restatements on nearly three years of financial statements.