All articles by Aaron Nicodemus – Page 12
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‘Be comfortable with being uncomfortable’: Compliance vets share career advice at CW2023
Experienced compliance professionals offered career advice and tips for building trust between compliance and the C-suite during a panel discussion at Compliance Week’s 2023 National Conference.
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News Brief
Polite: Voluntary self-disclosure rising since DOJ policy changes
The Department of Justice has seen an uptick in self-reported potential misconduct by corporations since it increased incentives for voluntary disclosure, according to Assistant Attorney General Kenneth Polite Jr.
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News Brief
Gaia fined $2M for subscriber overstatement, whistleblower retaliation
Digital video subscription service Gaia will pay a $2 million fine to the Securities and Exchange Commission for allegedly overstating its paid subscribers and retaliating against an internal whistleblower.
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News Brief
FINRA fines JPMorgan unit $750K over inaccurate, duplicative orders
JPMorgan Securities agreed to pay $750,000 to settle allegations levied by the Financial Industry Regulatory Authority that its inadequate financial risk management controls and supervisory procedures allowed erroneous orders to be placed with exchanges or alternative trading systems.
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News Brief
DXC Technology self-reports possible Russian sanctions violations
DXC Technology Company disclosed it might have violated U.S. sanctions and export controls against Russia in its sale of a Russian subsidiary.
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Four takeaways from Senate hearings on SVB, Signature Bank failures
Leaders at Silicon Valley Bank, Signature Bank, and the regulators who seized their banks testified before Congress across separate hearings.
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News Brief
Deutsche Bank to pay $75M to settle Jeffrey Epstein sex trafficking suit
Deutsche Bank agreed to pay $75 million to settle a class-action lawsuit filed by sexual assault victims of Jeffrey Epstein.
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News Brief
Wells Fargo to pay $1B to settle suit over consent order noncompliance
Wells Fargo agreed to pay $1 billion to settle a class-action lawsuit filed by shareholders who claimed the bank overstated its progress in complying with regulatory orders related to its 2016 fake accounts scandal.
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DOJ official: Compliance team access, visibility into data a sign of effectiveness
One of the ways the Department of Justice will assess a firm’s compliance program is by judging how accessible and visible a company’s data is to its compliance function, an agency official told attendees at Compliance Week’s 2023 National Conference.
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Glenn Leon at CW2023: CCO experience driving DOJ’s compliance program evaluations
Glenn Leon, head of the Department of Justice’s Fraud Section, said “compliance is a very big area of focus” for the agency, during a fireside chat at Compliance Week’s 2023 National Conference.
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CW2023 think tank: Compliance officers grapple with post-pandemic world
Senior-level compliance professionals granted anonymity met to candidly discuss the compliance officer’s role in a post-pandemic environment during a Day 1 think tank at Compliance Week’s 2023 National Conference.
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Article
Amex GBT navigates tricky 2022 to win Compliance Program of the Year
Going public, sanctions, a key merger. For its navigating a series of competing compliance challenges while maintaining trust with clients and travelers, American Express Global Business Travel was honored as Compliance Program of the Year at the 2023 Excellence in Compliance Awards.
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News Brief
HSBC to pay $45M to settle CFTC spoofing, recordkeeping violations
HSBC was fined $45 million by the Commodity Futures Trading Commission over allegations its traders used manipulative and deceptive trading practices. The bank and its subsidiaries were separately fined $30 million by the CFTC for business use of off-channel communications by employees.
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News Brief
FDIC proposes large banks cover $15.8B in losses from SVB, Signature Bank failures
The Federal Deposit Insurance Corporation issued a notice of proposed rulemaking regarding a special assessment on large banks to recover approximately $15.8 billion in losses attributable to the failures of Silicon Valley Bank and Signature Bank.
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News Brief
Philips to pay $62M to settle alleged FCPA violations in China
Dutch conglomerate Royal Philips will pay more than $62 million to settle allegations it violated the Foreign Corrupt Practices Act when its subsidiaries engaged in improper conduct to win contracts in China.
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News Brief
HSBC, Scotiabank latest caught in regs’ off-channel comms sting
The Bank of Nova Scotia and HSBC were fined $22.5 million and $15 million, respectively, by U.S. regulators for admitted recordkeeping failures regarding employee use of off-channel communications to conduct company business.
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News Brief
Ex-Coinbase manager gets two years in prison in crypto insider trading case
Former Coinbase product manager Ishan Wahi was sentenced to two years in federal prison for his role in a crypto insider trading scheme.
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News Brief
PCAOB finds ‘unacceptable’ deficiency rates in first China/Hong Kong inspections
The Public Company Accounting Oversight Board found seven of eight audit engagements it reviewed in China and Hong Kong contained “unacceptable rates” of deficiencies.
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News Brief
Goldman Sachs to pay $215M to settle gender pay, discrimination case
Goldman Sachs agreed to pay $215 million to settle a class-action lawsuit that accused the bank of pay and advancement discrimination against female vice presidents and associates.
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News Brief
SEC charges investment adviser in landmark Liquidity Rule case
The Securities and Exchange Commission charged New York-based Pinnacle Advisors and several mutual fund trustees with aiding and abetting violations of its Liquidity Rule—the agency’s first enforcement action related to the policy.