Articles | Compliance Week – Page 138
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Article
Hilton Grand Vacations adds chief accounting officer
Timeshare dealer Hilton Grand Vacations announced the appointment of Carlos Hernandez as senior vice president and chief accounting officer.
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ArticleCredit Suisse combines risk and compliance, adds sustainable investing unit
Credit Suisse has combined separate risk and compliance heads into one board-level position, part of a shakeup of the bank’s corporate structure that includes a renewed emphasis on sustainable investing.
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ArticleWhat do FIFA chief, ‘Florida man,’ and Trump have in common? All Failed It this week
The lesson in this week’s edition of “Nailed It or Failed It?” is the more things change, the more they stay the same.
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ArticleWhile compliance is in vogue, let masks be a symbol of safety in all situations
Now is the time to market compliance practices to customers who wear masks within our premises but drop the masks—and their guards—when answering calls and emails from the privacy of their own homes, writes Martin Woods.
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ArticleIBM report: Average data breach cost nearly $4M in past year
An IBM report that examined more than 500 cyber-security breaches occurring between August 2019 and April 2020 found the average breach costs companies $3.86 million and requires nearly 300 days to identify and contain.
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ArticleSFO charges Airbus subsidiary for corrupt acts in Saudi Arabia
The U.K. Serious Fraud Office announced charges against GPT Special Project Management and three individuals concerning a criminal investigation that began eight years ago into allegations of misconduct in Saudi Arabia.
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Article
Harbour Trust names chief compliance officer
Harbour Trust & Investment Management Company has appointed Martha Wargo Oprea to the role of vice president and chief compliance officer.
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Aegis Capital hires two compliance officers
Aegis Capital, a wealth management, financial services, and investment banking firm, announced the hiring of two veteran compliance officers with over 40 years of combined experience in compliance.
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ArticleOch-Ziff investors reach $136M proposed settlement in FCPA case
Sculptor Capital Management (formerly Och-Ziff Capital Management) has “agreed in principle” to a $136 million settlement with former shareholders of Africo Resources and the DOJ for violations of the Foreign Corrupt Practices Act.
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ArticleAnalysis: Comparing the IIA’s new ‘Three Lines Model’ to the old one
The biggest improvement in the IIA’s new “Three Lines Model” of risk management is it allows for greater flexibility between “lines” and is less likely to be interpreted so literally.
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ArticleWhitford to pay $824K for sanctioned dealings in Iran
Cookware coating manufacturer Whitford Worldwide has agreed to pay $824,314 as part of a settlement with OFAC regarding subsidiary dealings in the sanctioned country of Iran.
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ArticleSARs overload slowing efforts to combat financial crime
For the global AML community, there is a need to recognize too much valuable time is spent filing too many low-value suspicious activity reports that will never become the subject of any law enforcement action, writes Martin Woods.
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New SEC division to coordinate response between OCIE, regional offices
The Securities and Exchange Commission announced the creation of a new division designed to bolster compliance with securities laws among firms working with the agency’s regional offices.
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ArticleShared elements of best-in-class risk and compliance programs
A revamped NAVEX Global report reinforces a long-held belief in the compliance industry that those companies that trust employees to behave ethically continuously work to improve culture.
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ArticleCFTC awards $9M to whistleblower
The Commodity Futures Trading Commission awarded $9 million to a whistleblower whose “specific, credible, and timely tip’ led to a successful enforcement action. The payout is one of the five largest awarded by the regulator since 2014.
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ArticleHow to navigate states’ patchwork quilt of return-to-office training requirements
As if cobbling together a return-to-office plan for your company during a pandemic is not difficult enough, 16 states now require employees receive coronavirus safety training.
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ArticleCompanies paying price for EU-U.S. Privacy Shield removal
The legal and financial burden for companies to comply with the recent ruling to invalidate the EU-U.S. Privacy Shield might actually be worse than first thought, if an FAQ from the European Data Protection Board is any indication.
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ArticleUnder Armour facing potential SEC enforcement over accounting practices
Under Armour revealed in a regulatory filing that its accounting practices are the subject of a pending enforcement action by the Securities and Exchange Commission.
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ArticleJohnson & Johnson discloses FCPA probe
Johnson & Johnson disclosed in a regulatory filing that it is fielding FCPA inquiries from the DOJ and SEC with regard to an investigation into potential bribery and anti-competitive practices in Brazil.
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ArticleThe problem with ‘ghost CCOs’ and the haunting consequences
If you’re a small investment firm owner acting as your firm’s chief compliance officer, here are some scary stories that might keep you up at night.