Articles | Compliance Week – Page 143
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ArticleManaging emerging trade-based money laundering risks
Trade-based money laundering was already happening prior to the coronavirus pandemic, but now its nature has shifted. The ICA offers key considerations for managing emerging risks.
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ArticleAsk Amii mailbag: What to do when back-to-work guidance falls to you
Executive coach Amii-Barnard Bahn offers some tips for when your compliance title morphs into “Chief Public Health Officer,” plus ways to highlight the compliance function at your company and more.
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ArticleOCC report highlights elevated compliance risks in banking
The Office of the Comptroller of the Currency published a new report describing key issues facing the federal banking system and the effects of the coronavirus pandemic on the banking industry.
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ArticleEPA enforcement discretion policy to end next month
The Environmental Protection Agency has revised its temporary—and controversial—enforcement discretion policy regarding environmental legal obligations during the coronavirus pandemic, establishing an end date of Aug. 31.
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ArticleSupreme Court won’t hear challenge to CFTC authority
A lawsuit questioning the enforcement authority of the Commodity Futures Trading Commission has petered out after being denied the chance to be heard at the U.S. Supreme Court.
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FTC, DOJ issue modernized guidance on vertical mergers
The FTC and DOJ jointly issued long-awaited vertical merger guidelines that will replace decades-old parameters to more accurately represent the agencies’ merger review process.
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ArticleSEC, DOJ close FCPA probes into USANA
Usana Health Sciences disclosed in a regulatory filing that the DOJ and SEC have closed their respective FCPA investigations into the company and will not be filing any charges.
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ArticleMarket forces, not regs, leading the charge for data privacy
Data privacy is about to become a more tangible concept to Americans not due to regulation like the CCPA, but because the most influential brand in the nation is making it a pillar of how it does business.
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ArticleLabor Dept. revives fiduciary rule with new proposal
The U.S. Department of Labor announced the proposal of a new exemption for investment advice fiduciaries designed to replace retirement-focused fiduciary rules made invalid two years ago.
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ArticleIn time of crisis, Wirecard has turned to its would-be CCO to lead
Reeling from a $2 billion accounting scandal, Wirecard has turned to its would-be chief compliance officer as its interim CEO. It’s the first smart move the company has made in a while, writes Martin Woods.
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Supreme Court: CFPB single-director structure unconstitutional
The U.S. Supreme Court ruled the CFPB’s single-director structure violates the separation of powers between the executive and legislative branches and is unconstitutional.
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ArticleIreland’s GDPR report shows it’s yet to hold Big Tech accountable
The Irish Data Protection Commission review of its GDPR investigations has come under fire for ignoring Big Tech and lacking information pertinent to inquiries into firms like Apple, Facebook, Google, and more.
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ArticleTelegram to pay back investors $1.2B for failed ICO
Telegram Group will return more than $1.2 billion in ill-gotten gains to investors and pay an $18.5 million civil penalty to resolve SEC charges that its unregistered offering of digital tokens violated federal securities laws.
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ArticleWhat are expectations of compliance at a negligent company like PG&E?
Financial crime expert Martin Woods wonders about the compliance priorities of a company found to be as reckless as Pacific Gas and Electric.
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ArticleMexico’s war on corruption an uphill battle for compliance officers
Companies doing business in Mexico face an uphill battle with their anti-corruption compliance efforts as the country’s government struggles to control—and, in many cases, contributes to—its endemic corruption problem.
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ArticleBill proposes national cyber-security czar
A bill with bipartisan Congressional support proposes to create a national cyber-security czar who would report directly to the president.
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SEC risk alert provides compliance roadmap for investment advisors
A risk alert issued recently by the SEC examines disclosure deficiencies by investment advisors managing private funds.
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ArticleFollowing $107M fine for lax controls, SEB shares AML efforts
Sweden’s financial watchdog was fined SEB $107 million for weak governance practices related to the bank’s anti-money laundering controls in its Baltics subsidiaries.
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Regs rollback Volcker rule restrictions on bank investments
Despite pushback from some regulators and Democrats in Congress, the newest Volcker rule update will allow banks—in certain circumstances—to invest or sponsor hedge funds and private equity funds.
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ArticleNovartis to pay $347M to resolve FCPA investigations
Novartis will pay nearly $347 million in combined criminal and civil penalty settlements with U.S. authorities to resolve all FCPA investigations into historical conduct by the company and its subsidiaries.