All articles by Aaron Nicodemus – Page 34
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ArticleReport: Investigation costs rising, driven by data assessment inefficiencies
More than three-quarters of respondents to a Kroll global benchmark report said they have conducted an internal investigation into fraud or corruption within the past three years and that the cost of such probes is on the rise.
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Article‘A marathon, not a sprint’: FedEx carbon-neutral pledge tests longtime ESG efforts
In March 2021, FedEx announced an audacious goal: to achieve carbon-neutral operations globally by 2040. How did the company develop this pledge, and how will it track its progress and hold itself accountable to intermediate goals?
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ArticleCFTC proposal furthers transition from LIBOR in swaps
The Commodity Futures Trading Commission proposed a rule that would replace certain swap rate clearing requirements pegged to the London Interbank Offered Rate with other alternative reference rates that are less susceptible to manipulation.
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ArticleDesire for transparency launches FedEx on ESG journey
Since 2008, FedEx has produced detailed reports on its ESG initiatives. The company’s chief sustainability officer discusses the decision-making process behind the first report, determining materiality, and more in Part 1 of this four-part special report, published in partnership with the ICA.
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ArticleSEC extends comment period on climate-related disclosure rule
The Securities and Exchange Commission has extended the comment period for its controversial climate-related disclosure rule to allow interested parties more time to consider the issues and share feedback.
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ArticleNew sanctions add ban on U.S. accounting, management consulting work in Russia
The Treasury Department unveiled a host of new sanctions against Russian and Belarusian individuals and banks, in addition to a ban on U.S.-based accounting, management consulting, and trust and corporate formation services to any person located in the Russian Federation.
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New DOJ office to lead environmental justice efforts
The Department of Justice announced the creation of the Office of Environmental Justice to serve as a “central hub” for a federal environmental enforcement strategy that will pursue cases regarding environmental crime, pollution, and climate change.
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ArticleSEC: Companies must adequately disclose financial impact of Russia’s war on Ukraine
The Securities and Exchange Commission is warning public companies they must accurately and adequately disclose the material impact on their business caused by Russia’s war against Ukraine.
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ArticleCFPB fines Bank of America $10M over deficient garnishment protocols
The Consumer Financial Protection Bureau fined Bank of America $10 million for processing “unlawful” garnishments of customer accounts dating back to 2011.
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ArticleSEC to increase staffing around crypto asset-related investigations
The Securities and Exchange Commission announced plans to nearly double the number of employees assigned to its Cyber Unit, which has had its name changed to emphasize the agency’s pursuit of crypto asset-related investigations.
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ArticleSEC risk alert flags deficiencies in handling nonpublic information
A risk alert issued by the Division of Examinations at the Securities and Exchange Commission highlighted “notable deficiencies” in the handling of material nonpublic information by investment advisers, investors, and other market participants.
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ArticleCW National 2022 Q&A: Tyler Hand on working in high-risk countries
Tyler Hand, chief compliance officer at Western Union, previews his panel titled, “The Fast-Evolving Risk Working in High-Risk Countries—Experiences and Lessons Learned,” at CW’s National Conference in Washington, D.C. from May 16-18.
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ArticleCFPB targets fintechs with examination policy shift
The Consumer Financial Protection Bureau will begin conducting supervisory examinations on nonbank financial companies the agency believes “pose risks to consumers.”
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ArticleAnchorage Digital Bank gets OCC consent order for AML compliance failures
The Office of the Comptroller of the Currency announced a consent order against Anchorage Digital Bank, the first digital asset bank to be issued a charter by the regulator, for deficiencies in its Bank Secrecy Act/anti-money laundering compliance program.
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ArticleCFPB, NYAG sue MoneyGram to halt ‘long pattern of misconduct’
The Consumer Financial Protection Bureau and New York Attorney General Letitia James filed a lawsuit against MoneyGram in federal court, alleging the money remittance company has failed to fulfill the compliance obligations placed upon it in previous enforcement actions.
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ArticleCW National 2022 Q&A: Krista Haugner Sieg on engaging compliance training
Krista Haugner Sieg, senior compliance training and communications leader at GE Healthcare, previews her workshop titled, “Making Engagement and Effectiveness a Reality - Building the Right Training for your Employees and Business,” at CW’s National Conference in Washington, D.C. from May 16-18.
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ArticleStericycle to pay $84M to resolve FCPA violations
Medical waste disposal company Stericycle has agreed to pay $84 million in civil and criminal penalties to resolve allegations it paid bribes to win government contracts in Brazil, Mexico, and Argentina.
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ArticleFormer tech exec to pay $97K for impeding SEC whistleblower
David Hansen, co-founder of Las Vegas-based software company NS8, agreed to pay $97,523 to settle charges from the Securities and Exchange Commission that he impeded a whistleblower’s attempt to communicate with the agency about a securities law violation.
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SEC proposes Dodd-Frank rule requiring security-based swaps to hire CCOs
The Securities and Exchange Commission proposed a regulatory framework for security-based swap execution facilities that will require these entities to hire a chief compliance officer to oversee compliance with new rules.
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ArticleCalifornia judge strikes down state’s board diversity law
A California state superior court judge struck down a diversity mandate that ordered public companies in the state to have at least one minority board member by the end of 2021.