All Compliance Week articles in Web Issue – Page 253
-
ArticleCFTC ends whistleblower award drought with $3M payout
The Commodity Futures Trading Commission awarded approximately $3 million to a whistleblower in its first announced payout since September 2020.
-
ResourceWhite paper: Concentrate on effective compliance
The Anti-Money Laundering Act of 2020 (AMLA) is intended to improve transparency between financial institutions and regulators in an effort to streamline financial crime compliance.
-
ArticleLawmakers push FTC to investigate Google Play for COPPA violations
Two lawmakers sent a letter to the Federal Trade Commission urging the agency to investigate Google Play for potentially violating children’s privacy.
-
ArticleSix best practices for managing cyber-security upon return to office
The hybrid work environment many organizations are expected to utilize as part of the gradual return to the workplace presents numerous cyber-security risks that require proactive attention.
-
Article
Supreme Court limits FTC’s power to recoup ill-gotten gains
The Supreme Court ruled the Federal Trade Commission cannot seek to recover funds unlawfully obtained by individuals and companies resulting from violations of consumer protection laws.
-
VideoVideo: ABN AMRO refreshingly accountable; pharmacists lose in COVID-19 vaccine push
Kyle Brasseur seeks silver linings from ABN AMRO’s €480 million settlement for AML failures, while Aly McDevitt calls out the retail pharmacies overextending their employees for the sake of distributing more COVID-19 vaccines.
-
ArticleCredit Suisse’s governance rebound a tall task after ‘unacceptable’ losses
Putting the collapses of Archegos Capital and Greensill Capital behind it won’t be simple for Credit Suisse amid staggering financial losses and widening scrutiny from Switzerland’s financial regulator.
-
Article
SEC appoints Alex Oh to lead Enforcement Division
The Securities and Exchange Commission has named Alex Oh to lead an Enforcement Division expected to be more aggressive under new Chair Gary Gensler.
-
ArticleCoca-Cola replaces top legal counsel with CCO
The Coca-Cola Company has pushed out its top legal counsel after less than a year on the job and named its chief compliance officer to replace him.
-
ArticleRegulatory leadership status check: FTC nominee key to relieving backlog
With President Joe Biden’s picks to lead the Justice Department, Treasury Department, and SEC confirmed and sworn in, we check in on where other key regulatory agencies stand.
-
ArticleRegulators want answers from financial services on AI/ML tools
The financial services industry is at the cutting edge of the utilization of artificial intelligence and machine learning tools. Regulators have recently requested to understand how these technologies are being used—or misused.
-
Article
Senate confirms Lisa Monaco as deputy attorney general
President Joe Biden’s nomination of Lisa Monaco to be deputy attorney general of the United States was confirmed by the Senate on Tuesday.
-
ArticleABN AMRO fine response suggests moral compass of banking is shifting
ABN AMRO CEO Robert Swaak acknowledging his bank’s “moral duty” to prevent money laundering should be welcomed by all in the global AML community as progress, writes Martin Woods.
-
ArticlePCAOB reaches cooperative agreement with Belgian counterpart
The PCAOB has added Belgium to its list of countries with which it has a cooperative agreement to exchange information concerning the oversight of audit firms.
-
ArticleFines key attention to data privacy from boards, says ICO head
The threat of fines has done more to focus boardroom attention on data privacy and effective cyber-security than any other measure, U.K. Information Commissioner Elizabeth Denham believes.
-
ArticleSenate extends Gary Gensler’s SEC term to 2026
The Senate voted Tuesday to extend Gary Gensler’s term as chair of the Securities and Exchange Commission through 2026, cementing his control of the top regulator of U.S. financial markets.
-
ArticleStudy: How compliance managed COVID’s effects on incident reports
The coronavirus pandemic dramatically altered incident reports and investigations in 2020. Despite facing unprecedented challenges, as analyzed in NAVEX Global’s latest benchmark study, compliance officers met the moment.
-
ArticleAlliance Steel to pay $435K for Iran sanctions lapses
The Office of Foreign Assets Control announced a $435,003 settlement with manufacturer Alliance Steel for apparent sanctions violations related to the company’s importation of engineering services from Iran.
-
ArticleCOVID-19 effects apparent in board composition changes
The enduring impact of the COVID-19 pandemic might be forcing companies and other organizations to rethink what skills, qualities, and experience their executives should have if the business is to succeed.
-
ResourceWhite paper: Understanding OFAC: A Best Practices Compliance Guide
The Office of Foreign Assets Control (OFAC) imposed $5.7 billion in penalties from 2006-2020. And every year, the U.S. Treasury Department casts a wider net of OFAC violations, ensnaring everyone from unwitting small businesses to sophisticated corporations.