Articles | Compliance Week – Page 54
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FDIC Chair Jelena McWilliams to resign after partisan feud
Jelena McWilliams will resign as chair of the Federal Deposit Insurance Corp. on Feb. 4, following a public clash with Democratic members of the board regarding bank mergers.
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Deutsche Bank fined $9.8M for Euribor control weaknesses
Germany’s market regulator BaFin imposed an administrative fine of 8.66 million euros (U.S. $9.8 million) on Deutsche Bank for breaches of the European Union’s Benchmarks Regulation.
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DoorDash appoints general counsel
Online food ordering and food delivery platform DoorDash announced the promotion of Tia Sherringham to general counsel. Sherringham has served as vice president, legal at the company since 2018.
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Orange Bank & Trust hires chief accounting officer
Orange County Bancorp, parent company of Orange Bank & Trust Co., announced Michael Lesler has joined the company and the bank as senior vice president, controller and chief accounting officer.
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VEON names group general counsel
Netherlands-based telecommunications company VEON announced Victor Biryukov has been appointed group general counsel.
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Matterport adds chief accounting officer
Matterport, a 3D data platform provider, announced the appointment of Peter Presunka as chief accounting officer.
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ICA: Three major compliance talking points from 2021
With 2021 nearing its end, Jon Prentice of the International Compliance Association recaps three major compliance topics and talking points that have stood out this year.
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Riot Games to pay $100M in gender discrimination lawsuit settlement
Video game developer Riot Games has agreed to pay more than $100 million as part of a settlement in California resolving allegations of sex discrimination against female workers and harassment.
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Financial crime risk management: Old crimes, new methods
Times and technologies change, but the fundamental means by which criminals attempt to launder money and carry out their nefarious acts are still rooted in the same criminal process.
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DiMauro: Seven compliance areas to watch in 2022
If 2021 was about transition under the Biden administration, 2022 is looking as if it will be a year of action. CW Director of Compliance Programs & Training Julie DiMauro shares her list of key areas she expects to receive enhanced scrutiny in the year ahead.
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SEC charges Medallion Financial with fraud, illegal touting
The SEC charged New York City taxi medallion loan company Medallion Financial with participating in two illegal schemes to pump up the declining value of its stock. Also charged was California-based media strategy company Ichabod’s Cranium.
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S&T AG orders Deloitte audit of short seller allegations
Austrian technology company S&T AG has ordered a forensic audit of its corporate structure and several recent acquisitions in response to allegations made by short seller Viceroy Research.
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TD Bank fined $105K for North Korea sanctions violations
TD Bank, N.A. agreed to pay approximately $105,000 as part of a settlement with OFAC for “multiple sanctions compliance breakdowns” that contributed to more than 1,000 apparent violations of North Korean sanctions regulations.
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Should lawyers, accountants be filing more SARs?
A study of suspicious activity reporting data in the United Kingdom suggests accountants, lawyers, estate agents, and other service-facing professionals could be doing more to contribute to the fight against financial crime.
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Spotify chief legal officer to join Disney as general counsel
The Walt Disney Company has appointed Horacio Gutierrez as senior executive vice president, general counsel and secretary. Gutierrez will join Disney in February from Spotify, where he serves as head of global affairs and chief legal officer.
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ISACA issues audit resources on SOX, VPNs, agile auditing
The ISACA, an international professional association focused on IT governance, released three new resources designed to assist audit professionals in enhancing their skills to meet the needs of the evolving audit landscape.
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BlueCrest facing $55.5M fine for failing to manage fairly a conflict of interest
The U.K. Financial Conduct Authority announced its intention to fine hedge fund BlueCrest Capital Management £40,806,700 (U.S. $55.5 million) for failing to manage fairly a conflict of interest. BlueCrest has challenged the decision.
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NatWest to pay $35M for defrauding U.S. Treasury markets
NatWest Markets, the investment banking arm of London-based NatWest Group, agreed to pay approximately $35 million after pleading guilty to engaging in various fraud schemes over the span of a decade in U.S. Treasury markets.
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Lordstown Motors names new general counsel amid SPAC probes
Lordstown Motors, currently under investigation by the Justice Department and the SEC, announced the appointment of Melissa Leonard as executive vice president, general counsel and secretary.
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Rite Aid hires chief ethics and compliance officer
Drugstore chain Rite Aid has added LaShon Kell as senior vice president, chief ethics and compliance officer.