All Compliance Week articles in Web Issue – Page 9
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Blog
Phoenix Merchant Partners welcomes general counsel
Independent investment firm Phoenix Merchant Partners announced the addition of Rafael Colorado as chief operating officer and general counsel.
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Premium
FDIC proposes strengthening, modernizing bank merger reviews
The Federal Deposit Insurance Corporation proposed to strengthen its approach to evaluating bank mergers under the Bank Merger Act, particularly how it would address factors like competition, financial resources, the convenience and needs of communities, financial stability, and money laundering.
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News Brief
DOT launches first data privacy review of 10 biggest airlines
The U.S. Department of Transportation is looking to thwart the nation’s 10 largest airlines from monetizing passenger data or selling it to third parties.
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News Brief
BIS rule expands export control restrictions on OFAC sanctioned
The Bureau of Industry and Security adopted a final rule to extend its export restrictions across more entities and individuals designated under certain sanctions programs maintained by the Office of Foreign Assets Control.
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News Brief
Adani Group on defense over reports of FCPA probe
Indian conglomerate Adani Group said it is aware of an investigation by the U.S. Department of Justice into bribery allegations against a “third party” but denied a relationship with it.
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News Brief
PCAOB fines KPMG China partners combined $150K over audit violations
The Public Company Accounting Oversight Board imposed collective fines totaling $150,000 against three partners at KPMG China for violations of standards related to their audit work at education service provider Tarena International.
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Chapter 4: Investigations into misconduct: What banks can do
Both JPMorgan Chase and Deutsche Bank retained their respective Jeffrey Epstein relationships for too long. Yet, there is a case to be made for why exiting a high-risk relationship too soon can become an inverse form of recklessness.
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Blog
Fresenius appoints global legal, compliance head
Healthcare company Fresenius Medical Care announced the appointment of Jörg Häring as global head of legal, compliance, and human resources, effective June 1.
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Blog
Enstor Gas adds general counsel
Enstor Gas announced that Jennifer Johnson has joined the company as general counsel.
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Blog
PayPal adds ex-SoFi risk chief in enterprise services role
Financial technology company PayPal Holdings announced the appointment of Aaron Webster as executive vice president, chief enterprise services officer.
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Blog
Butterfield names general counsel, group legal chief
The Bermuda-based Bank of N.T. Butterfield & Son Limited announced the appointment of Simon Des-Etages to general counsel and group chief legal officer.
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Blog
Norfolk Southern appoints chief compliance officer
Rail transportation company Norfolk Southern Corp. appointed Angie Kolar as vice president and chief compliance officer.
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News Brief
Short seller accuses Equinix of ‘selling AI pipe dream,’ accounting manipulation
Data center owner Equinix boasts artificial intelligence as a boon to business when power consumption costs related to implementing AI could be detrimental to its profitability, according to short seller Hindenburg Research.
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News Brief
Ex-Stericycle finance director charged for bribery scheme role
A former finance director at medical waste disposal company Stericycle faces Department of Justice charges for his alleged role in a bribery scheme that led the company to an $84 million settlement regarding violations of the Foreign Corrupt Practices Act.
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Premium
Experts: Legal noise around SEC climate disclosure rule no excuse for standing still
Legal experts are advising their public company clients to move forward with plans to comply with the SEC’s climate-related disclosure rule, despite lawsuits and other challenges being brought against the controversial policy in the aftermath of its approval.
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Premium
Chapter 3: Egregious failures: Customer due diligence and transaction monitoring
Why did JPMorgan Chase retain Jeffrey Epstein for more than a dozen years? How did the relationship persist despite glaring red flags? The “why” is straightforward; the “how” is more complicated.
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News Brief
Deutsche Bank dinged $54K over IT incident reporting
Deutsche Bank was assessed a penalty of €50,000 (U.S. $54,000) by Germany’s financial supervisory authority for its alleged miscommunication of a 2023 information technology security incident.
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Blog
Woodward general counsel, chief compliance officer departs
Woodward, a designer, manufacturer, and service provider of control solutions for the aerospace and industrial markets, disclosed the departure of A. Christopher Fawzy, its executive vice president, general counsel, chief compliance officer, and secretary.
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Blog
MoneyGram appoints general counsel
Payments and money transfer company MoneyGram announced the appointment of Cory Feinberg as general counsel and corporate secretary.
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Blog
FinVolution Group CCO to serve as president
Financial technology platform FinVolution Group appointed Pingping Chen to serve as president and chief compliance officer.