Articles | Compliance Week – Page 103
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FinCEN again extends comment period for controversial crypto AML rules
The Financial Crimes Enforcement Network for a second time has extended the comment period for portions of its proposed AML rules aimed at peeling back the anonymity of certain kinds of cryptocurrency transactions.
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Disney appoints Alicia Schwarz as new chief compliance officer
The Walt Disney Company has promoted Alicia Schwarz to senior vice president and chief compliance officer.
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Survey: KYC, risk profiling key problem areas for finance amid pandemic
A new survey by LexisNexis Risk Solutions examines the rising costs and emerging risk areas faced by compliance at U.S. and Canadian financial institutions amid the coronavirus pandemic.
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Fannie Mae transitions board member to chief risk officer
Mortgage lender Fannie Mae announced Ryan Zanin is joining the company as executive vice president and chief risk officer, effective Feb. 1. Zanin is currently a member of Fannie Mae’s board of directors.
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Tenneco names general counsel
Automotive components manufacturer Tenneco announced Thomas Sabatino will join the company in the role of executive vice president, general counsel and corporate secretary.
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Spanish DPA fines CaixaBank record $7.3M under GDPR
Spain’s data protection authority recently fined CaixaBank €6 million (U.S. $7.3 million) for misuse of customer data, the largest GDPR fine the country has handed out.
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NBA’s Charlotte Hornets add general counsel
The Charlotte Hornets of the National Basketball Association announced the addition of Tamara Daniels as senior vice president and general counsel.
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Three best practices for handling GDPR and CCPA ‘right of access’ requests
A panel discussion on a recent Webcast analyzed common data subject access request compliance challenges, as well as leading practices designed to best comply with the EU’s GDPR and the CCPA in the United States.
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Biden taps Rostin Behnam as acting CFTC chair
The commissioners of the Commodity Futures Trading Commission unanimously elected Democrat Rostin Behnam to serve as the agency’s acting chairman.
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Cyber-Risk Summit: Compliance should view cyber-security through prism of risk
What’s most important for compliance officers is to understand the risks breaches and hacks pose to their organizations, not the technical manner of how those breaches occur, according to an expert panel at CW’s virtual Cyber-Risk & Data Privacy Summit.
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Cyber-Risk Summit: 7 best practices for protecting employee health data
Experts at CW’s virtual Cyber-Risk and Data Privacy Summit explain the importance for companies to review and enhance their current data security compliance policies and procedures.
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Allison Herren Lee takes over as SEC acting chair
Commissioner Allison Herren Lee has assumed the role of acting chair at the Securities and Exchange Commission while President Joe Biden’s nomination to lead the agency, Gary Gensler, awaits Senate confirmation.
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Morrison & Foerster partners assume DOJ leadership roles
Morrison & Foerster Partners John Carlin (acting deputy attorney general) and David Newman (associate deputy attorney general) have been named to “Day One” Department of Justice leadership roles.
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Parting gift: New Trump sanctions against China complex for compliance
A November executive order by former President Donald Trump banning U.S. investment in companies with ties to the Chinese military has proven difficult for compliance officers to navigate after taking effect earlier this month.
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Samsung heir Jay Lee returns to prison for bribery scandal
Jay Lee, the heir and de facto leader of family-owned conglomerate Samsung, was sentenced to prison for 2 1/2 years in a retrial regarding his role in a bribery scandal involving the former president of South Korea.
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Psychology of compliance: Counteracting bias in technology
Counteracting bias is part of the compliance officer job description, and now more than ever is it important for that duty to extend to new business technologies being implemented.
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Excellus Health Plan fined $5.1M for 2015 data breach
The U.S. Department of Health and Human Services’ Office for Civil Rights fined Excellus Health Plan $5.1 million for failures relating to a 2015 data breach that exposed the personal information of 9.3 million individuals.
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CFPB under Chopra will be aggressive consumer watchdog, experts say
Rohit Chopra’s nomination to lead the CFPB represents a full-throated return to the combative consumer protection agency under former director Richard Cordray, experts say.
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Analysis: Improving SARs effectiveness takes more than act of Congress
In the wake of 2020’s FinCEN Files leaks, the U.S. Treasury this year will undertake a thorough reevaluation of the country’s AML program under the Bank Secrecy Act.
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FTC Chair Joseph Simons to step down Jan. 29
Federal Trade Commission Chairman Joseph Simons and a group of senior staff announced their resignations, making way for new leadership to be appointed by President-elect Joe Biden.