Articles | Compliance Week – Page 199
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Agencies exclude community banks from the Volcker Rule
Five federal financial regulatory agencies announced this week they have adopted a final rule to exclude community banks from the Volcker Rule.
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Florida man sentenced for role in collapse of Puerto Rico bank
The CEO of a now-bankrupt pharmaceutical company was sentenced to 30 years in prison for his role in a $100 million plot that triggered Westernbank of Puerto Rico’s collapse.
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Lyft names chief accounting officer
Rideshare service Lyft announced the appointment of Lisa Blackwood-Kapral as chief accounting officer.
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AXA hires chief risk officer from Goldman Sachs
French insurance giant AXA announced the appointment of Renaud Guidée as group chief risk officer, effective September 2019.
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Volvo CE appoints general counsel
Volvo Construction Equipment has appointed Nina Aresund as senior vice president and general counsel to replace longstanding SVP Legal Edvard Carleson.
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Cloudvirga names chief legal and compliance officer
FinTech firm Cloudvirga announced the appointment of Maria Moskver as chief legal and compliance officer.
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Embattled Danske hires HSBC compliance head
Danske Bank, embroiled in a substantial money laundering scandal, has added to its compliance team with the appointment of Simon Kingsbury as head of surveillance & investigation.
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FASB seeks comment on how to sort out goodwill issues
FASB is looking for input on how to address ongoing problems in the reporting of certain intangible assets, especially goodwill.
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Regulatory events: What’s hot this summer!
Here’s a look at some upcoming events and training from regulators like the SEC, DOJ, and PCAOB.
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ProcessUnity, DVV Solutions partner on third-party risk
ProcessUnity has added third-party risk management specialist DVV Solutions to its Partner Program as a managed-service provider.
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Marriott reveals $124M GDPR fine for data breach
Marriott has disclosed in a filing with the SEC that the U.K.’s Information Commissioner’s Office intends to fine it roughly £99 million (U.S. $124 million) for infringements of the EU’s GDPR.
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SEC shores up details on ‘short-termism’ roundtable
An upcoming SEC roundtable on July 18 will seek to identify potential market practices and regulatory changes that could encourage increased long-term strategies and investments.
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Exostar launches policy management solution
Exostar, a secure information sharing company, announced the launch and availability of its software-as-a-service (SaaS)-based policy management solution, Exostar PolicyPro.
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U.K.'s CMA mulls new regulator to tackle Big Tech
The CMA, U.K.’s competition watchdog, explores whether a separate regulator is needed to oversee leading digital firms that have become “data monopolies” that stifle competition.
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SEC's Clayton reignites debate about pairing of enforcement, waivers
In a potential boon for businesses, SEC Chairman Jay Clayton says qualifications for waiver issuances may no longer be delayed due to lingering accusations of misconduct.
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FDIC report: Five common consumer compliance issues
The FDIC recently issued the first edition of its “Consumer Compliance Supervisory Highlights” report, intended to enhance transparency around consumer compliance supervisory activities.
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British Airways faces record-setting GDPR fine of $230 million
British Airways was hit Monday with the largest penalty to date under the EU’s GDPR, a £183.39m (U.S. $230 million) fine stemming from the compromised data of nearly 500,000 customers.
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SEC approves new audit rules on estimates, specialists
The SEC has approved final standards issued by the PCAOB giving auditors new requirements for auditing estimates and relying on the work of specialists.
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Hong Kong’s SFC bans former Goldman Sachs officer for life
Hong Kong’s Securities and Futures Commission has banned Tim Leissner, a former participating managing director at Goldman Sachs (Asia), from re-entering the industry in connection with his crimes relating to 1MDB.
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Serco fined £19.2M over electronic tagging scandal
The U.K. Serious Fraud Office has approved in principle a deferred prosecution agreement with Serco Geografix for fraud and false accounting that would result in a fine of £19.2 million (U.S. $24.2 million).