Articles | Compliance Week – Page 89
-
Article
Study: SPACs surge shakes up first-quarter IPO market
Because of the recent SPACs craze, the first quarter of 2021 saw the highest IPO activity in U.S. markets in at least 20 years, according to Audit Analytics. David Bukzin, leader of the SPAC team at Marcum, provides context.
-
Article
Private right of action proving problematic for state privacy laws
An enforcement provision allowing customers to sue businesses that misuse their personal data is a key stumbling point for state-level data privacy legislation.
-
Article
Risk matrix breaks down problem areas of blockchain technology
The use of blockchain technology brings with it a number of risks that prudent auditing and accounting professionals must smartly manage. It’s all described in a new risk matrix released jointly by the ISACA, AICPA, and CIMA.
-
Article
Tips for keeping pace with ever-evolving sanctions
The constantly changing sanctions landscape is much easier to navigate with a proper understanding of risk exposure. Here’s where firms can get started.
-
Article
Cancel culture stresses need for senior execs to practice mindfulness
Given the “cancel culture” era we are in today, writes Jaclyn Jaeger, the need for senior executives to be mindful about the things they say and do outside the workplace is more critical than ever before.
-
Article
Norway’s DNB fined $48.1M for AML violations
DNB ASA, Norway’s largest financial services group, will pay a fine of NOK 400 million ($48.1 million) for failing to adhere to Norwegian Anti-Money Laundering Act standards.
-
Article
Under Armour to pay $9M to settle SEC accounting probe
Under Armour agreed to pay $9 million to settle charges brought by the SEC concerning accounting practices by the sports apparel company that rendered statements it made misleading.
-
Article
Credit Suisse risk committee head to depart amid board reshuffle
Andreas Gottschling, Credit Suisse’s board member in charge of its risk committee, has stepped down as fallout from the collapses of Archegos Capital and Greensill Capital continues to roil the bank.
-
Article
Deutsche Bank ordered to further improve AML controls
BaFin, Germany’s market regulator, signaled Deutsche Bank still has more to do concerning previously ordered improvements to its AML compliance controls.
-
Article
Former IIA CEO Richard Chambers partners with AuditBoard
Richard Chambers, former president and CEO of the Institute of Internal Auditors, has partnered with AuditBoard as a senior internal audit advisor.
-
Article
Siemens appoints new chief compliance officer
German technology giant Siemens announced the appointment of Annette Kraus as chief compliance officer.
-
Article
SEC settles with 8 companies over untimely reporting disclosures
The Securities and Exchange Commission announced settlements with eight companies for incomplete reporting related to “not timely” form disclosures.
-
Article
SAP to pay over $8M for admitted Iran sanctions violations
German software company SAP SE agreed to pay more than $8 million in combined penalties issued by three U.S. agencies after admitting to committing numerous violations of sanctions against Iran.
-
Article
DOJ FCPA head Christopher Cestaro to depart for WilmerHale
Christopher Cestaro, chief of the Justice Department’s FCPA Unit, is set to depart the agency for a partner position with law firm WilmerHale.
-
Article
LRN survey: Compliance and ethics rose to challenge of COVID-19
LRN’s “2021 Ethics & Compliance Program Effectiveness Report” highlights the strengthening of ethical culture that has occurred during the COVID-19 pandemic.
-
Article
MoneyGram plagued by tech, human error in OFAC sanctions settlement
The Office of Foreign Assets Control announced a $34,329 settlement with MoneyGram Payment Systems for apparent violations of multiple sanctions programs, including the processing of transactions involving Syria.
-
Article
Danske Bank compliance costs down after completing internal Estonia probe
New Danske Bank CEO Carsten Egeriis told investors compliance costs at the bank have stabilized now that a forensic audit into a money laundering scandal involving its Estonia branch is complete.
-
Article
What you need to know about proposed EU rules for trustworthy AI
With various levels of defined risk and the potential for steep fines for offenders, the European Commission’s recent proposal to ensure trust in the use of artificial intelligence should receive urgent attention from industries beyond Big Tech.
-
Article
New SEC enforcement head Alex Oh resigns for personal reasons
Alex Oh resigned as head of the Securities and Exchange Commission’s Enforcement Division for personal reasons after less than one full week on the job.
-
Article
Airbus subsidiary GPT pleads guilty to corrupt acts in Saudi Arabia
Airbus subsidiary GPT Special Project Management will pay approximately £30.3 million (U.S. $42.1 million) after pleading guilty to corruption relating to contracts it was awarded for work carried out in Saudi Arabia.