All Compliance Week articles in Web Issue – Page 198
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ArticleKPMG fined $4.3M for undocumented red flags in Rolls-Royce corruption case
The U.K. Financial Reporting Council announced a reduced penalty of approximately £3.4 million (U.S. $4.3 million) against KPMG for failures in its 2010 audit of car maker Rolls-Royce.
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Article
SEC names Best permanent exams division director
The Securities and Exchange Commission named Richard Best permanent director of the agency’s Division of Examinations, removing “acting” from the job title he has held since March.
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ArticleWhat to consider as FASB tackles digital assets
The Financial Accounting Standards Board unanimously decided to add a project to its technical agenda on the accounting and disclosure for certain digital assets, including cryptocurrencies. Experts weigh in on the current landscape and what form the project might take.
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ArticleICO fines Clearview AI $9.4M over alleged data privacy lapses
The U.K. Information Commissioner’s Office fined Clearview AI more than £7.5 million (U.S. $9.4 million) for collecting people’s images from internet and social media sites without their knowledge or consent.
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ArticleBNY Mellon fined $1.5M by SEC for misstatements on ESG mutual funds
BNY Mellon Investment Adviser has agreed to pay a $1.5 million fine to the Securities and Exchange Commission for making “misstatements and omissions” on environmental, social, and governance mutual funds it managed over three years.
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ArticleWells Fargo unit fined $7M for AML transaction monitoring failures
For the second time in five years, a subsidiary of Wells Fargo has been charged by the Securities and Exchange Commission with failing to file suspicious activity reports in a timely manner due to deficiencies in the system it used to flag transactions.
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ResourceWhite paper: How Compliance Can Prevent Risk and Rapidly Respond to Change
The compliance and risk landscape grows more complex each day, and the rate of change in the space is only accelerating.
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Article
Zimmer Biomet names chief accounting officer
Zimmer Biomet Holdings, a global medical technology company, announced the appointment of Paul Stellato as vice president, controller and chief accounting officer.
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Article
Monogram Health appoints chief compliance officer
Monogram Health, an in-home healthcare provider, added Karen Abbott as chief administrative officer and chief compliance officer.
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Gunderson Dettmer recruits ex-Andreessen Horowitz CCO as partner
Law firm Gunderson Dettmer announced the appointment of former Andreessen Horowitz Chief Compliance Officer Benjamin Buckwalter as partner in its corporate and securities practice.
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Article
Binance.US adds ex-Uber operations compliance head to lead legal
Binance.US announced the appointment of Krishna Juvvadi as vice president, head of legal. Previously, Juvvadi served as global head of operations compliance at Uber.
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ReprintTranscript: Kenneth Polite Jr. keynote address at Compliance Week 2022
A transcript of Assistant Attorney General Kenneth Polite Jr.’s keynote address at Compliance Week’s 2022 National Conference, as edited by Compliance Week.
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ArticleSpanish DPA fines Google $10.6M for GDPR violations
Spain’s data protection authority has issued a record fine of €10 million (U.S. $10.6 million) against Google for two “serious infractions” of the EU’s General Data Protection Regulation regarding its sharing information with U.S. legal database Lumen.
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ArticleCarnival CECO Peter Anderson resigns
Peter Anderson, Carnival’s first chief ethics and compliance officer and a central figure in leading the cruise line giant through its environmental compliance monitorship, has resigned. Richard Brilliant, Carnival’s chief audit officer, will replace Anderson in the new role of chief risk and compliance officer.
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ArticleCompliance Week 2022 live blog
Check out highlights and takeaways from onsite at Compliance Week’s 2022 National Conference, held May 16-18 at the JW Marriott Hotel in Washington, D.C.
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ArticleAllianz unit pleads guilty in $6B fraud settlement
Allianz Global Investors U.S. and three former portfolio managers were charged with lying to investors about a complex options trading strategy, as well as forging documents to cover up the scheme, leading to multibillion dollar losses.
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ArticleFrom ‘Institutional Self-Regulation’: Role of culture
Tamar Frankel, honored for Lifetime Achievement in Compliance at the 2022 Excellence in Compliance Awards, authorized CW to share excerpts from her book “Institutional Self-Regulation.” The following is a passage from the book’s chapter on investigations to prevent violations of the law.
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ArticleFrom ‘Institutional Self-Regulation’: Why compliance?
Tamar Frankel, honored for Lifetime Achievement in Compliance at the 2022 Excellence in Compliance Awards, authorized CW to share excerpts from her book “Institutional Self-Regulation.” The following is a passage from the book’s chapter on compliance, governance, and self-regulation.
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ArticleFrom ‘Institutional Self-Regulation’: Slippery slope of bad habits
Tamar Frankel, honored for Lifetime Achievement in Compliance at the 2022 Excellence in Compliance Awards, authorized CW to share excerpts from her book “Institutional Self-Regulation.” The following is a passage from the book’s chapter on institutional subversive culture, ethics, power, and behavior.
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ArticleConnecticut fifth state to pass comprehensive data privacy law
Connecticut has joined four other states in passing a comprehensive data privacy law that requires companies to provide consumers with information about the personal data they collect.