Appointment Blogs | Compliance Week – Page 67
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Beam Suntory to pay $8M in FCPA case
Beam Suntory subsidiary Beam India was charged by the SEC with making improper payments to various government officials to obtain or retain business in the Indian market. Beam was fined $8M, but neither admitted nor denied the the allegations.
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The continuing problem of shell companies
Businesses must conduct more robust background checks and must work to improve their internal controls around all third parties to make sure one does not slip through the corporate cracks and cause great damage.
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Check your Hermès handbags and bank accounts
The scope of the corruption that befell 1MDB funds continues to widen, with an investigation uncovering a staggering amount of loot from the home of former Prime Minister Najib Razak. For companies doing business in or with Malaysia, now is the time to make sure all operations are free from ...
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SEC adopts changes to liquidity risk management disclosures
The SEC has finalized amendments to liquidity-related disclosure requirements for certain open-end funds. Under the amendments, funds would discuss in their annual or semi-annual shareholder report the operation and effectiveness of their liquidity risk management programs.
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Deutsche Bank fined $205M for ‘unsound’ conduct in Forex trading business
The New York State Department of Financial Services has fined Deutsche Bank $205 million as part of a consent order for violations of New York banking law in its Forex trading business.
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SEC requires companies to move filings to inline XBRL
The SEC will require companies to integrate their XBRL and static financial statement data into a single filing beginning in 2019 for the largest entities.
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Steele enhances AI capability with acquisition of TransparINT
Steele Compliance Solutions on June 25 announced its acquisition of TransparINT, a technology company harnessing artificial intelligence (AI) to provide the next generation of compliance tools.
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NAVEX Global offers free sexual harassment prevention training
Ethics and compliance software and services firm NAVEX Global now offers a free online awareness and training video series designed to help organizations focus on preventing sexual harassment and effecting positive changes in workplace culture.
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Accuity trade compliance screening solution has new vessel monitoring capability
Accuity, a provider of financial crime compliance, payments and counterparty know-your-customer solutions, has released a new vessel monitoring capability, Firco Trade Compliance Ship Enforcement Alerts that enables companies involved in trade finance to track shipping vessels in real-time to ensure they are not in breach of international sanctions.
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Consumer advocacy groups urge FTC to investigate Google, Facebook
Several consumer advocacy groups in the United States are urging the U.S. Federal Trade Commission to investigate what they say are “misleading and manipulative tactics” by Google and Facebook in violation of the General Data Protection Regulation.
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ProctorU names new chief compliance officer
ProctorU has named Pamela Fetterolf as chief compliance officer.
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BBVA Compass names chief compliance officer
BBVA Compass, the U.S. subsidiary of global financial services group BBVA, has named Celie Niehaus as chief compliance officer and a member of its management committee.
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Altamont Capital Partners appoints chief compliance officer
Altamont Capital Partners, a private equity firm with over $2 billion under management, has named Jennifer Mello as general counsel and chief compliance officer.
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COSO publishes ERM examples to show case studies
COSO has published an addendum to its ERM framework to illustrate examples of how to apply the framework to real situations.
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Wells Fargo settles with SEC over improper sales advice, strategy
An SEC announcement says Wells Fargo Advisors will settle charges that its sales team pushed retail investors to cash out non-liquid investments before their maturity, unnecessarily costing them money but improving the firm’s profits.
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Harley-Davidson: Cost implications of EU retaliatory tariffs
Harley-Davidson plans to shift production of its motorcycles for EU destinations out of the United States to its international facilities to avoid the EU’s retaliatory tariffs, providing a glimpse into the broader cost implications that the trade war is expected to have on global companies.
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Shell companies and the who of corruption
A key part of any fraud scheme are the attempts to keep it hidden, and many companies set up shell companies to do just that. A look at why shell companies can shield bad actors from the public record.
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Whistleblowers and building trust
It is now more important than ever for companies to take seriously internal whistleblower reports, get the reports into the hands of the corporate functions that can triage and investigate such information, and keep the whistleblower in the loop more fully as to the status of the investigation.
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Machine learning and anti-corruption compliance
Behavioral analytics, coupled with machine learning will enhance anti-corruption compliance programs and the company will run more efficiently, as it will allow an organization to more closely track its overall spend going forward.
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The importance of compliance contract terms
Making sure third-party contracts contain appropriate compliance terms and conditions can help save companies time and money down the road.