Articles | Compliance Week – Page 185
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MVB Financial Corp acquires Chartwell Compliance
MVB Financial Corp., the holding company for MVB Bank., announced the acquisition of Chartwell Compliance as a wholly owned subsidiary of MVB Bank.
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DoorDash data mishap showcases hazards of third-party vendors
DoorDash announced an incident of unauthorized third-party access to user data—a reminder companies need to mind the cyber-security of vendors in addition to their own.
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Shareholder lawsuit alleges massive fraud at AT&T
A lawsuit filed on behalf of shareholders against AT&T and its executives and directors alleges widespread fraudulent sales and customer-manipulation tactics regarding the company’s DirecTV Now offering.
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DOJ launches new process for filing documents under FARA
The Department of Justice recently announced a new online system for filing, storing, and searching registrations under the Foreign Agents Registration Act.
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Zurich appoints group chief risk officer
Zurich Insurance Group has named Peter Giger as group chief risk officer, effective Oct. 1.
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Northwestern Mutual appoints chief compliance officer
Northwestern Mutual recently announced it has made several changes to the company’s senior leadership team, including the appointment of a new chief legal and compliance officer.
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European Commission fines companies $34.5M in cartel case
The European Commission has fined Dutch food-processing company Coroos and French agricultural cooperative Groupe Cecab a total of €31.6 million (U.S. $34.5 million) for engaging in a cartel scheme that spanned more than a decade.
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Virtua Capital Management names chief compliance officer
Virtua Capital Management, the capital formation arm of global private-equity real-estate investment manager Virtua Partners, has appointed Curtis Christensen as chief compliance officer.
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TIAA adds chief risk and compliance officer
Financial services provider TIAA appointed David Nason to the newly created position of chief risk and compliance officer.
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Ericsson reserves $1.2B in FCPA case; speaks candidly on compliance program
Ericsson announced it has set aside $1.2 billion to resolve a long-running FCPA investigation that spans several geographies. CEO Börje Ekholm spoke candidly about the shortcomings of the company’s ethics and compliance program and how it’s addressing them.
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SEC, Libra called out at House Financial Services hearing
At the first get-together of all five SEC commissioners at a Congressional hearing since 2007, House Financial Services Committee Chair Maxine Waters said the regulator “is not fulfilling its mission as Wall Street’s cop.”
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CentralReach appoints chief legal and compliance officer
CentralReach, a provider of electronic health record and practice management solutions, has appointed Perry Pappas as senior vice president, chief legal and compliance officer.
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More VW execs charged in emissions scandal; Daimler fined $960M
German prosecutors have charged two current Volkswagen executives and its former CEO for alleged market manipulation practices relating to its emissions-cheating scandal. In a separate action, Daimler was fined $960 million, also related to emissions cheating.
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Nissan pays $15M for financial misconduct; CEO and CCO resign
Nissan will pay a $15 million civil penalty over false financial disclosures, the SEC announced. The charges come the same month the carmaker’s latest CEO resigned, along with its vice president of internal audit and chief compliance officer.
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SEC: PwC to pay $8M for auditor independence violations
PwC will pay approximately $8 million in monetary relief to settle charges with the SEC for allegedly violating auditor independence rules and engaging in improper professional conduct.
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TechnipFMC to pay $5M in FCPA case
TechnipFMC, a global oil and gas services provider, has reached a $5 million settlement with the SEC for violations of the books-and-records and internal accounting controls provisions of the FCPA.
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Parliament suspension ‘unlawful’ says U.K. Supreme Court
The U.K. Supreme Court unanimously ruled Boris Johnson’s decision to suspend Parliament unlawful, but it stopped short of suggesting the Prime Minister’s motive was to stymie further debate over the government’s Brexit plans.
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Facebook suspends apps over privacy concerns
Facebook announced it has suspended “tens of thousands” of apps as part of an investigation launched in the aftermath of last year’s Cambridge Analytica scandal.
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House approves PCAOB whistleblower program
The U.S. House of Representatives has passed a bill to move the creation of a whistleblower program at the PCAOB forward. While some praised the development, others cautioned it’s a redundant and flawed measure.
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CFPB’s Consumer Complaint Database gets a second chance
Will improvements to the CFPB Consumer Complaint Database, acknowledged by the CFPB director as the “government’s version of Yelp,” help institutions ward off disgruntled consumers?