All Compliance Week articles in Web Issue – Page 1425
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News BriefGreen Dot estimates up to $50M in liabilities over proposed Fed order
Financial technology firm Green Dot Corp. estimated a pending consent order with the Federal Reserve Board will require a payment of between $20 million to $50 million.
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News BriefADM delays annual report filing amid ICFR assessment
ADM disclosed it will be late in filing its annual report for 2023 as it continues to investigate potential accounting improprieties regarding its nutrition reporting segment.
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News BriefChemours places senior execs on leave over accounting review
Chemours announced it placed its chief executive officer, chief financial officer, and principal accounting officer on leave pending completion of an internal review into potential material weaknesses in its internal control over financial reporting.
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News BriefSwedbank says Estonia money laundering probe closed
The Estonian branch of Swedbank is no longer under investigation regarding suspected money laundering and other criminal activities.
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News BriefGunvor to pay $661M to settle FCPA violations in Ecuador
Swiss-based oil trader Gunvor will pay more than $661 million as part of a plea agreement with the Department of Justice to resolve violations of the Foreign Corrupt Practices Act involving a long-running scheme to bribe officials in Ecuador to secure oil contracts.
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PodcastCW National 2024 preview: Former Albemarle CCO on FCPA case lessons
Andrew McBride, former chief risk and compliance officer at chemical company Albemarle Corp., joins the Compliance Week podcast with Aaron Nicodemus to preview his session at CW’s National Conference in Washington, D.C.
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News BriefSEC charges Lordstown Motors with misleading EV investors
Bankrupt electric vehicle maker Lordstown Motors Corp. agreed to pay disgorgement of $25.5 million to settle charges from the Securities and Exchange Commission over alleged materially false and misleading statements regarding its flagship truck.
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News BriefHG Vora fined $950K for beneficial ownership disclosure failures
New York-based investment adviser HG Vora Capital Management agreed to pay $950,000 to settle charges levied by the Securities and Exchange Commission alleging failure to report beneficial ownership regarding its stake at trucking transport company Ryder System.
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News BriefBoeing fined $51M over export control violations
Aerospace giant Boeing will pay a $51 million civil penalty to the State Department to resolve alleged export control violations related to unauthorized transfers and retransfers of technical data to foreign-person employees and contractors.
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News BriefStruggling NYCB refreshes risk, audit leadership
New York Community Bancorp, a mid-sized bank struggling with precarious commercial loans and troubles with its acquisition of the failed Signature Bank last year, named a new chief risk officer and chief audit executive.
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News BriefMetropolitan Commercial Bank adds risk chief, AML officer
Metropolitan Commercial Bank announced the appointments of a chief risk officer and Bank Secrecy Act/anti-money laundering officer to bolster its reporting lines following a $30 million enforcement action from federal and state authorities last year.
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WebcastCPE Webcast: Applying traditional TPRM security and data privacy practices in the digital space
This webinar explores the compliance challenges posed by evolving privacy regulations and the recent explosion of class-action litigation arising from third-party advertising technology on websites.
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PremiumJudge’s ruling calls FinCEN beneficial ownership registry into question
A federal court judge in Alabama ruled the Corporate Transparency Act was beyond Congress’s power, potentially throwing the effectiveness of the Financial Crimes Enforcement Network beneficial ownership information registry into doubt.
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News BriefKPMG fined $1.9M by FRC over M&C Saatchi audit lapses
KPMG agreed to pay a reduced penalty of nearly £1.5 million (U.S. $1.9 million) assessed by the U.K. Financial Reporting Council addressing admitted failings in the Big Four audit firm’s financial year 2018 work at advertising services company M&C Saatchi.
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News BriefFCA warns CEOs over firm AML failings
The U.K. Financial Conduct Authority warned the chief executive officers of approximately 1,000 financial institutions it supervises regarding common failures in anti-money laundering procedures it observed during recent assessments.
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PremiumExperts: What to expect ahead of SEC climate-related disclosure rule vote
Nearly two years after it was first proposed, the Securities and Exchange Commission is finally poised to approve its climate-related disclosure rule—albeit a watered-down version, by all indications.
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Blog
Elanco appoints new general counsel
Pharmaceutical company Elanco Animal Health announced the appointment of Shiv O’Neill as executive vice president, general counsel and corporate secretary.
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Blog
EBRD names chief risk officer
The European Bank for Reconstruction and Development appointed David Coleman as vice president, chief risk officer.
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Blog
Cadeler announces legal chief
Denmark-based offshore wind support service provider Cadeler announced the appointment of Alexander Simmonds as chief legal officer and executive vice president.
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Blog
ClearBank UK promotes risk and compliance chief to CEO
ClearBank announced Emma Hagan, chief risk and compliance officer, was appointed chief executive officer of ClearBank UK.