Articles | Compliance Week – Page 55
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Binance.US adds former Intel CCO as first chief risk officer
Cryptocurrency exchange platform Binance.US has added Sidney Majalya to its leadership team as its first chief risk officer. Majalya most recently served as vice president, legal and chief compliance officer at Intel Corp.
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ZipRecruiter names chief accounting officer
Online employment marketplace ZipRecruiter announced the promotion of Amy Garefis to chief accounting officer amid a series of executive appointments.
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3M legal chief to join Medtronic as general counsel
Medical device company Medtronic announced the appointment of Ivan Fong as executive vice president, general counsel and secretary.
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Mohegan Gaming welcomes chief accounting officer
Mohegan Gaming & Entertainment announced the appointment of Haven Pope as chief accounting officer.
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FASB proposal sets disclosure requirements for supplier finance programs
The Financial Accounting Standards Board issued a proposed update to its liabilities standard setting disclosure expectations for supplier finance programs.
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FinCEN report highlights uptick in wildlife trafficking SARs
Suspicious activity reports flagging potential financial crime risks posed by wildlife trafficking are on the rise, according to a report published by the Financial Crimes Enforcement Network.
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Global Infrastructure Management fined $4.5M for compliance failures
Registered investment adviser Global Infrastructure Management has agreed to pay a $4.5 million civil penalty as part of a settlement reached with the SEC for fee offset and disclosure failures caused by deficiencies in its compliance program.
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Nikola to pay $125M to settle SEC fraud charges
Electric semitruck startup Nikola agreed to pay $125 million to settle charges brought by the SEC for defrauding investors by misleading them about its products, technical advancements, and commercial prospects.
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ICA partners with Series B to advance compliance education globally
The International Compliance Association has partnered with international legal and compliance recruitment firm Series B to advance compliance education across the world.
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Dissatisfaction with GDPR pushing EU countries toward local laws
So far, Europe’s wide-reaching data privacy rules have seemingly failed to curb Big Tech firms’ use and abuse of citizens’ personal data. As a result, some EU data regulators are pursuing their own investigations—often through other legislation.
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SEC Commissioner Elad Roisman to resign by end of January
The Securities and Exchange Commission will be down a Republican commissioner next month following the planned resignation of Elad Roisman.
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Standard Chartered fined record $61.5M for liquidity reporting failures
The U.K. Prudential Regulation Authority imposed a record fine of £46.55 million (U.S. $61.5 million) against Standard Chartered Bank for repeatedly misreporting a key metric to determine liquidity risk.
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Desjardins reaches $155M proposed settlement in data breach class action
Desjardins Group has reached a proposed C$201 million (U.S. $155 million) settlement agreement in a class-action lawsuit following a long-running data breach that ultimately compromised the personal information of nearly 10 million individuals in Canada and abroad.
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Cybersecurity trends continue in 2021 audit committee transparency report
The most dramatic increase in audit committee disclosures in proxy statements for the second consecutive year was in responsibility for cybersecurity risk oversight, according to the latest report from the Center for Audit Quality and Audit Analytics.
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Court lifts hold on OSHA vaccine policy; testing compliance pushed to Feb. 9
The legal delay affecting the Biden administration’s COVID-19 vaccine rules for large employers has been lifted, with updated guidance from OSHA extending compliance deadlines for businesses who temporarily paused their vaccine policy rollouts to redouble their efforts.
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Survey highlights need for better data integration between risk and compliance
A recent survey from Compliance Week and Riskonnect presents a compelling argument for companies to invest in bridging the gap between risk management and compliance data.
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OCC guidance: Six principles for large banks managing climate risks
The Office of the Comptroller of the Currency published draft guidance for large banks to identify, measure, monitor, and control climate-related risks to ensure the safety and soundness of their institutions and the market.
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McDonald’s claws back $105M severance paid to disgraced former CEO
McDonald’s has agreed to drop its lawsuit against disgraced former CEO Steve Easterbrook, who will return more than $105 million in equity and cash he received upon the termination of his employment in 2019.
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HSBC hit with $84M penalty over AML failings
The U.K. Financial Conduct Authority fined HSBC Bank £63,946,800 (U.S. $84.3 million) for failings in its anti-money laundering processes over an eight-year period.
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SEC, CFTC fine JPMorgan Chase $200M for recordkeeping violations
JPMorgan Chase will pay $200 million in fines to settle charges brought by two federal regulators regarding the bank’s failure to maintain records of communications on securities, commodities, and swaps business matters made on bank employees’ personal devices.