Articles | Compliance Week – Page 109
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SEC enforcement head Avakian to step down by year’s end
Stephanie Avakian, who led the Division of Enforcement at the Securities and Exchange Commission for the past four years, announced she will leave at the end of the year.
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Five challenges for European CCOs heading into 2021
Many of the problems European compliance officers faced in 2020 will remain in place going into the new year, but new risks and new regulations will also present new challenges.
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CFTC Chairman Tarbert to step down early next year
Heath Tarbert, chairman and chief executive of the Commodity Futures Trading Commission, will step down from his post early next year while remaining on as one of the agency’s commissioners.
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SEC accounting office acknowledges challenging year for auditors
Among other things, the SEC’s chief accountant discussed activities relating to public company financial reporting, accounting and auditing policy updates, and financial reporting considerations related to COVID-19 at a conference this week.
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GE settles SEC accounting probe for $200M
General Electric agreed to pay $200 million to settle charges brought by the Securities and Exchange Commission regarding a series of accounting violations at its power and insurance businesses.
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Record year of FCPA enforcement a sign of more to come in 2021
Major bribery scandals, record enforcement actions, unprecedented cross-border coordination and prosecutions—all this amid a global pandemic made 2020 an unforgettable year for FCPA enforcement.
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SEC general counsel to depart
The Securities and Exchange Commission announced Robert Stebbins will conclude his tenure as general counsel in early January, after serving over 3 1/2 years as the agency’s chief legal officer.
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Hershey general counsel to depart
The Hershey Company announced Damien Atkins, senior vice president, general counsel and corporate secretary, will be resigning due to family illness, effective Jan. 31, 2021.
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London Stock Exchange adds ex-Deutsche exec as risk chief
The London Stock Exchange Group announced the addition of former Deutsche Bank executive Balbir Bakhshi as chief risk officer.
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Cox tabs general counsel
Cox Communications has promoted Joiava Philpott to senior vice president of law and policy and general counsel.
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VEON promotes group chief compliance officer
Netherlands-based communications provider VEON announced the promotion of Joop Brakenhoff to the newly established position of group chief internal audit & compliance officer.
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Santander Consumer USA appoints chief risk officer
Santander Consumer USA Holdings has named Ramamurthy Lakshmana Prasad as chief risk officer, succeeding Joshua Baer, who will serve as head of pricing and strategy.
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International Money Express adds CCO, general counsel
International Money Express, a money remittance services company, announced the appointment of Ernesto Luciano as the company’s new general counsel and chief compliance officer.
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Bombardier appoints general counsel
Canadian transportation manufacturer Bombardier announced the appointment of Annie Torkia Lagacé as senior vice president, general counsel and corporate secretary.
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COFCO International names chief risk officer
COFCO International, a global agriculture supply chain, has appointed Khaja Qureshi as chief risk officer.
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Congress approves enhanced protections for antitrust whistleblowers
After four tries, Congress has finally passed a bill prohibiting employers from retaliating against whistleblowers who report violations of antitrust laws to the Department of Justice.
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Intercontinental Exchange subsidiary fined $8M for inaccurate securities quotes
A New York-based subsidiary of the Intercontinental Exchange has agreed to pay $8 million as part of a settlement with the SEC for compliance deficiencies related to its provision of securities quotes to subscribers.
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Ten things I’d like to see happen in 2021 (2020 in review)
Many of the things I’d like to see in 2021 are directly related to regulatory changes we anticipate are coming under a Biden administration, but they’re mixed with a few lessons from the pandemic we hope carry into a post-COVID world.
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Companies should create ‘Ombuds’ function to meet EU whistleblower rules
The creation of an independent, competent “Ombuds” function could be used by companies to respond to certain key requirements in the EU’s Whistleblower Protection Directive.
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U.K. firm BlueCrest fined $170M for violating U.S. securities laws
U.K.-based investment fund BlueCrest Capital Management has agreed to pay $170 million as part of a settlement with the SEC for allegedly violating anti-fraud provisions of U.S. securities laws.