Articles | Compliance Week – Page 41
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ArticleIndictment: Ex-CCO charged with wire fraud over misappropriated funds
Jennifer Campbell, a former chief compliance officer at an unnamed investment adviser in Buffalo, N.Y., faces criminal and civil charges for allegedly misappropriating approximately $500,000 in funds from client accounts.
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ArticleCFTC comment request gauging future action on climate-related risks
The Commodity Futures Trading Commission is seeking public comment on climate-related financial risks that could inform the agency’s future guidance, interpretations, policy statements, and/or rulemaking.
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ArticleTenaris to pay $78M to settle FCPA charges over bribes in Brazil
Tenaris, a global manufacturer of steel pipe products, agreed to pay more than $78 million to the SEC to settle charges it violated the Foreign Corrupt Practices Act by paying more than $10 million in bribes to a Brazilian government official.
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ArticleInvestment advisers fret over SEC’s proposed ESG disclosure rule
Investment advisers and companies worry a recently proposed rule by the SEC that would require enhanced disclosures about funds that claim ESG strategies drive investment choices would have “substantial impact” without providing useful information to investors.
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Ranger Investments appoints chief compliance officer
Ranger Investment Management announced the appointment of Melanie Mendoza as chief compliance officer.
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ArticleFormer Danske Bank CCO Philippe Vollot resigns
Danske Bank Chief Administrative Officer Philippe Vollot, who was promoted to the position from chief compliance officer in November, has resigned, the Danish bank announced.
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ArticleSurvey: Legal heavily involved in ESG strategy, less so in compliance
Less than one-fifth of global corporate legal departments in a recent survey reported heavy involvement with environmental, social, and governance compliance, though three-quarters said they had been extremely involved in drafting their companies’ ESG strategy.
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ArticleReal talk: How Best Buy manages challenges of DEI goals
Two years into its diversity, equity, and inclusion action plan, Best Buy leaders attended Compliance Week’s National Conference to discuss—in a refreshingly blunt manner—the retailer’s learnings.
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ArticleDeutsche Bank asset management head resigns amid greenwashing probe
Asoka Woehrmann, chief executive of DWS Group, has resigned amid an investigation by German officials into allegations of greenwashing within the asset management unit’s investment portfolio.
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ArticleReport: SPACs drive restatement surge in 2021
The total number of restatements and individual companies disclosing restatements in 2021 rose to their highest levels since 2006, according to Audit Analytics’ latest annual review.
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ArticleLaw firm Dechert, SFO criticized in ENRC case ruling
A High Court judge found the U.K. Serious Fraud Office induced a lawyer from Dechert acting for Eurasian Natural Resources Corp. to provide it with privileged and unauthorized information.
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ArticleBanco Popular to pay $255K for violating Venezuela sanctions
Banco Popular de Puerto Rico has agreed to pay more than $255,000 as part of a settlement with the Office of Foreign Assets Control to resolve its civil liability for 337 transactions processed in violation of U.S. sanctions.
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ArticleThe importance of maintenance and record-keeping
Stringent maintenance and record-keeping measures are part of the foundations of an effective compliance and risk management framework, so their neglect is as puzzling as it is unwise.
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ArticleReport: Westpac New Zealand progressing on risk culture improvements
An independent report ordered by the Reserve Bank of New Zealand into Westpac New Zealand has found the bank is “moving in the right direction” in addressing risk culture deficiencies.
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ArticleCourt rules Lafarge to face crimes against humanity charges
A French court ruled Lafarge should face charges of complicity in crimes against humanity after its subsidiary allegedly paid up to €13 million (U.S. $14 million) to armed groups—including the Islamic State—to keep its Syrian cement factory running between 2012-14.
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ArticleCompliance leadership panel: Current state, future trends, more
Four senior compliance practitioners shared their insights on maintaining an ethical culture, embracing data analytics, determining compliance’s role in measuring ESG metrics, and more as part of a panel discussion at Compliance Week’s National Conference.
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WonderFi adds chief compliance officer
WonderFi, a technology company serving the financial services and cryptocurrency sector, announced the appointment of Torstein Braaten as chief compliance officer.
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Blackstone Credit appoints chief accounting officer
Blackstone Credit, a privately owned hedge fund and credit investment subsidiary of Blackstone Group, announced the appointment of Abby Miller as chief accounting officer and treasurer.
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ArticleTwitter agrees to $150M settlement with DOJ, FTC over data privacy lapses
Twitter agreed to a $150 million settlement with the Department of Justice and Federal Trade Commission for violating a 2011 administrative order by “misrepresenting” how it used nonpublic user information.
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ArticleFactors to consider when implementing risk assessment technology
With the growing demands of huge data sets, an everchanging regulatory landscape, and constantly evolving typologies, the challenge of assessing, documenting, and managing financial crime risk has never been greater.