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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aly McDevitt2020-09-17T13:00:00
Source: AP Photo
On April 24, when Carnival had its quarterly status conference regarding progress made on the environmental compliance plan (ECP), everybody was in shock, according to Chief Ethics and Compliance Officer Peter Anderson. The cruise industry had been on pause for a month, and now all other nonessential businesses were suspending operations, too. Restaurants and bars were closed. Universities sent students home, away from their campuses. Children were home; parents were home. By then, the death toll in the United States from the coronavirus had passed 50,000, accounting for about a quarter of worldwide deaths, according to John Hopkins data. The year’s turn of events had given everyone whiplash.
The court hearing was held virtually, and the court was accommodating and compassionate, said Anderson. There weren’t a lot of sparks or drama, but U.S. District Judge Patricia Seitz did ask a pointed question:
What was the company, E&C in particular, planning to do during the pause to come back stronger when ships returned to service?
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News and analysis for the well-informed compliance or audit exec.
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2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
2024-07-01T15:58:00Z By Aaron Nicodemus
Jamaica and Türkiye made “significant progress” addressing deficiencies in their anti-money laundering/countering the financing of terrorism (AML/CFT) programs, warranting their removal from the Financial Action Task Force’s grey list.
2024-07-01T15:45:00Z By Margaret Holmes Tibbets, CW guest columnist
Margaret Holmes Tibbets, chief compliance officer at financial technology company Pipe, explains how firms are facing an existential compliance crisis, and to survive they’ll need to overcome not one but two hurdles.
2024-03-21T16:00:00Z By Aly McDevitt
Both JPMorgan Chase and Deutsche Bank retained their respective Jeffrey Epstein relationships for too long. Yet, there is a case to be made for why exiting a high-risk relationship too soon can become an inverse form of recklessness.
2024-03-20T16:00:00Z By Aly McDevitt
Why did JPMorgan Chase retain Jeffrey Epstein for more than a dozen years? How did the relationship persist despite glaring red flags? The “why” is straightforward; the “how” is more complicated.
2024-03-19T16:00:00Z By Aly McDevitt
Jeffrey Epstein’s designation as a high-risk client should have subjected him to enhanced due diligence that never appeared to occur, most notably at Deutsche Bank. Instead, Epstein was allowed to continue his misconduct despite numerous red flags.
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