Articles | Compliance Week – Page 158
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Coronavirus safeguards mean corporate ghost towns in China
China’s economy may be stuck in neutral for months by mandated quarantines and business shutdowns as well as resistance from local authorities to issue work resumption permits.
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Under Siege: Actor Steven Seagal dinged by SEC for touting ICO
Steven Seagal agreed to a settlement with the Securities and Exchange Commission for failing to disclose payments he received for promoting an initial coin offering in 2018 conducted by Bitcoiin2Gen.
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Big Four score: EY, KPMG, PwC, Deloitte among Fortune’s 100 best companies list
Fortune’s 2020 list of the 100 Best Companies to Work For is out, and accounting firms are again among them. All four of the Big Four firms are in the top 50, as is Plante Moran.
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SITA settles nearly 10K alleged OFAC sanctions violations for $7.8M
Société Internationale de Télécommunications has agreed to pay approximately $7.8 million to settle 9,256 apparent sanctions violations with the Treasury Department’s Office of Foreign Assets Control.
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SEC subpoenas Mattel in accounting probe
Mattel announced it has received a subpoena from the Securities and Exchange Commission seeking documents related to a previously disclosed investigation that had uncovered accounting errors.
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Tyson Foods chief accounting officer steps down
Tyson Foods announced in a regulatory filing that Stephen Gibbs notified the company of his intention to step down as chief accounting officer to pursue another opportunity.
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CCO Q&A: Managing compliance in the FinTech space
Compliance Week discusses with Shannon Duncan, CCO and director of operations at registered investment adviser Blooom, the many unique challenges of doing compliance in the complex, ever-evolving FinTech space.
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Versant Health appoints chief compliance officer
Versant Health, a national managed eye health and vision plan company, has appointed Lula Richards as its new chief compliance officer.
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Regulatory events coming this spring
Check out information on upcoming events from such regulators as the SEC, FINRA, CFPB, and more.
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Fictitious soccer players at center of money laundering scheme
Europol, the European Union’s law enforcement agency, announced it has uncovered more than €10 million (U.S. $11 million) from fictitious soccer player transfers in a money laundering and tax evasion scheme.
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Coronavirus impact: How tech, medical, retail industries are responding
Surrounded by uncertainty, the coronavirus outbreak has quickly catapulted high on the list of hot risk topics for business leaders everywhere.
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Disruptions caused by coronavirus affecting global supply chain
The burgeoning coronavirus outbreak not only sent markets crashing on Monday, it also put a spotlight on companies whose supply chains have been severely disrupted by the ongoing crisis.
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What’s next for Wells Fargo? Bank, execs still in crosshairs
Wells Fargo will pay $3 billion to resolve civil and criminal penalties with the DOJ and SEC related to its long-running fake accounts scandal, but the embattled bank—and its former executives—are far from out of the woods.
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Wells Fargo to pay $3B to resolve fake account scandal
The Department of Justice and Securities and Exchange Commission on Friday assessed total civil and criminal penalties of $3 billion against Wells Fargo & Co. and its subsidiary, Wells Fargo Bank, in the aftermath of its fake account scandal.
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Proposed EU data strategy spells big changes for Big Tech
The European Commission unveiled its long-awaited plans about how it wants to regulate artificial intelligence as well as promote greater data sharing throughout the EU to stimulate further growth and competition in digital services.
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Resurgent BIPA more than second fiddle to CCPA?
The California Consumer Privacy Act seems to be in the spotlight lately, but the Illinois Biometric Information Privacy Act should not be overlooked.
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FRC to review how U.K. companies, auditors address climate change
The U.K. Financial Reporting Council announced it will begin reviewing the extent to which U.K. companies and auditors are responding to the impact of climate change to ensure reporting requirements are being met.
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Compliance lessons from Julius Baer’s ‘serious AML failings’
Compliance officers can learn a lot from the anti-money laundering compliance shortcomings at Julius Baer Group, as well as from what the bank is now doing to enhance its risk management and AML compliance controls.
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Diageo to pay $5M for disclosure failures
Alcohol producer Diageo has agreed to pay $5 million to resolve charges brought against it by the SEC for disclosure failures, due to weaknesses in its internal disclosure processes.
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Ireland GDPR caseload nearly doubled in 2019
The Irish Data Protection Commission received 7,215 complaints during the first full year the General Data Protection Regulation was in force, representing a 75 percent increase on 2018’s figures of just over 4,000.