Appointment Blogs | Compliance Week – Page 89
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Swiss regulator publishes ICO guidelines
The Swiss Financial Market Supervisory Authority, FINMA, has published guidelines setting out how it intends to apply financial market legislation in handling enquiries from initial coin offering organisers. The guidelines also define the information FINMA requires to deal with such enquiries and the principles upon which it will base its ...
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U.K. and U.S. to collaborate on FinTech initiatives
The U.K. Financial Conduct Authority and the U.S. Commodity Futures Trading Commission have signed a first-of-its-kind arrangement with one another to collaborate and support innovative firms through each other’s FinTech initiatives.
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Could Tesco have avoided its £4 billion (U.S.$5.6B) unequal pay case
Law firm Leigh Day is taking legal action against Tesco in “what is potentially the largest ever equal pay challenge in U.K. history,” according to the firm.
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Is IFRS 9 shaking up U.S. activity to adopt CECL?
Accounting activity at publicly held financial institutions apparently is picking up to prepare for new requirements for the recognition of loan losses.
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Facilitation payments under the FCPA
In addition to its restrictions, a key to FCPA compliance is accurately recording facilitation payments going forward. As with all things FCPA-related, the “document, document, document” mantra holds.
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Extortion policies under the FCPA
An extortion payment, while not a violation of the FCPA, should have its own set of policies and procedures that employees adhere to per the chief compliance officer.
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Charitable entities and compliance
The stories of Plan International USA and of Oxfam make clear the need for robust compliance programs in a non-profit charity.
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Bad days ahead for Shell and ENI?
The bribery allegations against Shell and Italian energy company ENI makes one wonder: If monies paid to a foreign government itself are now subject to scrutiny, could it open up an entirely different exposure to liability for international organizations?
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ERM for ESG risks: Companies have new guidance to ponder
COSO is looking for feedback on draft guidance regarding how its ERM framework can be used to manage risks in environment, social, and governance areas.
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SEC’s Jackson seeks dual-share compromise with ‘sunset’ provisions
SEC Commissioner Robert Jackson is urging exchanges to prohibit companies with dual-class shareholder structures from listing if that arrangement does not include sunset provisions.
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U.S. Bancorp to pay $613M for AML compliance failures
U.S. Bancorp, the parent company of U.S. Bank, announced today that it will pay a total of $613 million in total penalties for willfully failing to have an adequate anti-money laundering compliance program and willfully failing to file a suspicious activity report in violation of the Bank Secrecy Act.
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Credit Suisse discloses FCPA investigation
Credit Suisse Group said it has been responding to requests from “certain governmental and regulatory authorities” concerning potential violation of the FCPA regarding its hiring practices in the Asia Pacific region.
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CFPB is latest agency questioned over fake comments
Energy and Commerce Ranking Member Frank Pallone, Jr. (D-N.J.) is requesting an investigation into the "widespread submission of fake public comments" during the CFPB's consideration of its payday lending rule.
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Regulators make funding pitch for FY 2019 budget
This week, President Trump sent Congress a $4.4 trillion budget proposal for fiscal year 2019. While Congress pores over the document, regulatory agencies are making their pitch for more resources.
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CFPB reviews supervisory processes, reveals multi-year strategic plan
The Consumer Financial Protection Bureau is continuing a public consultation process that coincides with a five-year strategic plan for its operations, goals, and priorities.
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Unified AGs want to end mandatory arbitration for sexual harassment victims
In an uncommon display of unity, all 56 of the nation’s attorney’s general are urging Congress “to end secret, forced arbitration in cases of workplace sexual harassment.”
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FSR: Congress must enact data breach legislation
The Financial Services Roundtable is urging Congress to enact stronger data security legislation and ensure sensitive financial information is kept safe.
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Singapore proposes e-payment standards for financial institutions
The Monetary Authority of Singapore has launched a public consultation on proposed guidelines to protect users of electronic payments, which would set standards on the responsibilities of financial institutions.
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TrustArc launches GDPR individual rights management solution
TrustArc, a data privacy management company, recently announced the launch of its TrustArc Individual Rights Manager, a 3-in-1 solution to help companies address data subject access rights requests in accordance with the EU General Data Protection Regulation.
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Opus launches new anti-bribery compliance solution
Opus, a global compliance and risk management solutions provider, recently launched a new turnkey solution designed to dramatically simplify and speed up the ability to comply with anti-corruption regulations.