All Compliance Week articles in Web Issue – Page 1464
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PremiumExperts warn FCA review prompts firms to declassify or retain PEPs
The U.K Financial Conduct Authority published findings showing that financial services firms are implementing its guidance on politically exposed persons related to anti-money laundering inconsistently, with experts warning firms of reputational damage arising from potential enforcement.
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PremiumExamining potential uses for GenAI in banking, financial services
The American Bankers Association sent a letter to the Treasury Department asking questions on the ethical application of generative AI in banking and finance, with an IBM report published the same day describing potential future uses of GenAI tools in finance.
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News BriefBIS issues export control guidance to academic research institutions
The Commerce Department’s Bureau of Industry and Security issued guidance to academic research institutions on trends in voluntary self-disclosure to improve export control compliance.
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PremiumAll hands on deck needed to get ESG disclosures right, report finds
Multiple emerging environmental, social, and governance and disclosure standards pose legal and operational risks to many companies, but also opportunities to improve reporting and get ahead of requirements, a new report found.
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PremiumU.K. forced labor ruling raises bar for supply chain monitoring
Companies will need to tighten up how they monitor their supply chains after a recent U.K. ruling determined that corporates could be open to money laundering charges if they fail to act in cases where they believe there is a risk of forced labor.
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News BriefNo more fake product reviews allowed under FTC rule
A new rule by the Federal Trade Commission will crack down on fake product reviews, whether written by humans or artificial intelligence.
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News BriefSpanish DPA dings retailer Uniqlo $294K over GDPR violations
Spain’s data protection authority fined retailer Uniqlo Europe 270,000 euros (U.S. $294,000) over admitted violations of the European Union’s General Data Protection Regulation.
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Blog
National Renewable Solutions promotes GC to legal chief
National Renewable Solutions announced that Ben Klassen, who has served as general counsel since February 2022, will be promoted to chief legal officer.
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Blog
SHINE Technologies hires GC
SHINE Technologies announced the appointment of Edward Taibi as general counsel.
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Blog
AccessHope names general counsel
AccessHope, which provides cancer care, support and expertise, announced it has named Bridget Davis as general counsel.
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Blog
Guardians promotes head of risk to chief risk officer
The Guardians of New Zealand Superannuation, manager of the $76.6 billion NZ Super Fund, promoted Head of Risk Michael Mitchell to chief risk officer.
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Blog
Champion Homes announces GC
Champion Homes announced that Laurel Krueger was appointed the company’s senior vice president, general counsel, and secretary.
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Blog
The Estée Lauder Companies appoints GC
The Estée Lauder Companies announced that Rashida La Lande has been appointed executive vice president and general counsel.
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Blog
Anderson Corporation welcomes sustainability chief
Windows and doors’ manufacturer Anderson Corporation announced George Bandy has joined the company as its new vice president and chief sustainability officer.
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Blog
Cepsa names chief legal officer
Petroleum business company Cepsa appointed Virginia Beltramini as the new director of the company’s legal counsel and assurance area and secretary of the board of directors, effective Sep. 16.
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News BriefCFTC, ICE Futures fine Brazil-based Raizen Energia $850K over wash trading
Brazilian energy and sugar company Raizen Energia SA and its Swiss trading subsidiary will pay $850,000 in fines to settle charges that they engaged in illegal noncompetitive transactions.
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Premium’Bait-and-switch’: Pham critical of CFTC self-reporting policy
Caroline Pham, a commissioner on the Commodity Futures Trading Commission, criticized the agency’s policy on credit for self-reporting violations as a “bait-and-switch.”
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News BriefFCA fines PwC $19.5M for failing to report fraud at London Capital & Finance
PricewaterhouseCoopers agreed to pay 15 million pounds (U.S. $19.5 million) for failing to report suspicions of fraud taking place at investment firm London Capital & Finance before it collapsed, the Financial Conduct Authority announced.
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PremiumQ&A: APCC chair on culture challenges facing financial services firms
Julie Ampadu, chair of the U.K.’s Association of Professional Compliance Consultants, spoke to Compliance Week about why culture is the biggest issue facing financial services firms.
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News BriefFTC tries to close COPPA loophole with amicus brief against IXL Learning
The Federal Trade Commission is fighting against an online educational platform’s interpretation of the Children’s Online Privacy Protection Act, arguing that COPPA can’t force parents into arbitration.