Articles | Compliance Week – Page 194
-
Article
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.
-
ArticleEricsson 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.
-
Article
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.”
-
Article
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.
-
ArticleMore 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.
-
ArticleNissan 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.
-
Article
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.
-
Article
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.
-
Article
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.
-
ArticleFacebook 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.
-
ArticleHouse 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.
-
Article
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?
-
Article
Facebook’s Zuckerberg schmoozes with Trump, lawmakers
Facebook CEO Mark Zuckerberg met with about a half dozen senators at a dinner this week before visiting the White House to meet with President Trump. The key focus of the visit: discussing the future of internet regulation.
-
ArticleSEC explores possible new rules on auditor independence
SEC Chairman Jay Clayton has instructed staff to follow up on concerns raised in public comments with respect to auditor independence requirements.
-
Article
FDIC paves way for rollback of initial swap margin requirements
The move to ditch the requirement that insured depository institutions collect initial margin from affiliates is being praised by regulators for bringing the U.S. into alignment with other countries and freeing up $39.4 billion in collateral.
-
ArticleBanks finalize CECL prep, but others have work to do
Big banks are making progress in preparing for CECL, but non-bank operating companies are likely to face a heavier lift as they approach the fourth quarter.
-
Article
Lloyd’s of London appoints chief risk officer
Lloyd’s of London, the specialist insurance and reinsurance marketplace, announced the appointment of David Sansom as its permanent chief risk officer.
-
Article
Handelsbanken appoints chief compliance officer
Handelsbanken, a Swedish consumer banking company, has announced the appointment of Martin Noréus as chief compliance officer.
-
ArticleSEC charges ICOBox for unregistered offering, broker activity
The SEC has filed a lawsuit against cryptocurrency startup ICOBox, a California company in the business of facilitating other companies’ ICOs, and its founder for conducting an illegal securities offering of its digital tokens and for acting as unregistered brokers for other digital asset offerings.
-
ArticleCompliance failures lead to $15M penalty for Raymond James
A series of compliance failures have resulted in three Raymond James entities being fined $15 million by the SEC over improper charges of advisory fees and excess commissions.