All Compliance Week articles in Web Issue – Page 1477
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Blog
Fragrance Creators names GC
Fragrance Creators Association announced the appointment of Sarah Erickson André as its new vice president, government affairs & general counsel, effective Nov. 1.
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Blog
UnitedLex promotes GC to CEO
UnitedLex, a data and professional services company specializing in litigation, intellectual property, contracts, compliance, and legal operations, announced that the company’s general counsel Renee Meisel has been appointed chief executive officer.
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Blog
OKX appoints global risk chief
Global crypto exchange OKX announced the appointment of Yuri Mushkin as global chief risk officer.
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Blog
GCL appoints chief legal officer
Luxury goods logistics provider GCL announced the appointment of Caren Yeamans as chief legal officer.
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PremiumFTC final ‘Click to Cancel’ Rule requires disclosure of material facts before enrollments
Tthe Federal Trade Commission, after years of public comments and changes, released a final “Click to Cancel” Rule, which requires a customer’s express consent before they can be charged and prohibits practices that make it difficult for a customer–whether a family or another business–to cancel.
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PremiumPace of innovation will make EU AI Act hard to enforce, experts say
Concerns about how robustly European member states may enforce the EU AI Act, which took effect on Aug. 1, are divided between if regulators will take a “light touch” approach or a sledgehammer for noncompliance. One thing’s for sure, the pace of AI innovation will make enforcement very difficult.
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PremiumRaytheon parent RTX settles false claims, defective pricing, Qatar FCPA violations for $950M
The other shoe finally dropped for Raytheon and parent company RTX, as two U.S. regulators announced nearly $1 billion in penalties to settle defective pricing in defense contracts, false claims related to inflated prices on government contracts, and bribes paid to government officials in Qatar that violated the FCPA.
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News BriefNYDFS expects banks, firms to cut risks posed by AI, according to new guidance
New York financial institutions are expected to address cybersecurity risks posed by artificial intelligence, and new guidance from the New York Department of Financial Services is aimed at helping firms do just that.
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PremiumKeys to a successful GenAI use policy: Clear roles, training, vendor management
For all the hype surrounding generative artificial intelligence, the technology has been met with a healthy skepticism in the compliance community. Compliance practitioners want to know: Is it safe? Can it be deployed ethically? Are the risks greater than the rewards? And what should an AI acceptable use policy contain?
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News BriefVietnamese business pays $860K for violating U.S. sanctions on North Korea
A Vietnamese alcohol company has agreed to pay $860,000 to settle allegations by the Office of Foreign Assets Control that its business with North Korea involved U.S. financial institutions.
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Blog
Watkin Jones appoints legal chief
Watkin Jones, a developer and manager of residential for rent, announced that the group has appointed Adam McGhin as its new chief legal officer and company secretary.
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Blog
Genus Capital Management appoints sustainability chief
Genus Capital Management announced the appointment of Stephanie Tsui as the firm’s new chief sustainability officer.
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Blog
Home Run Financing promotes GC to COO
Home Run Financing announced that Ryan Griffin, who has served as its general counsel and chief compliance officer for over five years, has been appointed as their new chief operating officer.
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Blog
Sheppard Pratt names GC
Sheppard Pratt, a private, nonprofit provider of mental health, substance use, developmental disability, special education, and social services, announced the appointment of Jennifer Coyne as general counsel.
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News BriefDOJ proposes rule that would block sale of Americans’ personal data to Chinese, Russian firms
The Department of Justice (DOJ) has proposed a new rule that would regulate the use of Americans’ personal information by foreign companies and foreign persons in six “countries of concern,” prohibiting and restricting the sale of data to thwart the use of data for cyber-enabled activities, espionage, coercion, influence and ...
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News BriefWisdomTree pays $4M SEC fine for including fossil fuel, tobacco securities in ESG funds
Fund management company WisdomTree will pay $4 million to settle allegations by the Securities and Exchange Commission that it improperly invested in fossil fuel and tobacco companies in environmental, social and governance (ESG) funds despite promising to avoid them.
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News BriefPrecision Toxicology to pay $27 million to settle allegations of unnecessary drug testing
Precision Toxicology has agreed to pay $27 million to settle allegations first brought by whistleblowers in three cases, that the company billed the federal government for unnecessary drug tests and paid kickbacks to doctors, the Department of Justice (DOJ) said.
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PremiumNew CFPB data rights rule will modernize U.S. banking system, Chopra says
Banks, credit card companies and other financial mainstays will be required to comply with new data privacy and retail account portability regulations under a sweeping rule issued Tuesday by the Consumer Financial Protection Bureau.
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News BriefUnisys, three other firms fined a combined $7M for underplaying damage from SolarWinds hack
Four current or former public companies will pay a total of nearly $7 million in fines to settle charges by the Securities and Exchange Commission that they underplayed or failed to disclose material information about how the SolarWinds Orion hack affected them.
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Blog
Inflammatix adds general counsel
Molecular diagnostics company Inflammatix hired Laura Spencer Garth as general counsel.