All articles by Jaclyn Jaeger – Page 39
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ArticleDOJ recovers $700M in 1MDB scandal
Jho Low, a Malaysian businessman-turned-fugitive, has agreed to forfeit more than $700 million worth of assets that he and his family allegedly misappropriated from Malaysian’s sovereign-wealth fund, 1MDB.
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ArticleMattel ousts CFO after accounting probe reveals weaknesses
Following an investigation spurred by a whistleblower letter, Mattel announced it has uncovered material weaknesses in its internal controls over financial reporting and is now working to remediate the issues.
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World Bank Group debars MTZ Equipment for fraud
The World Bank has imposed a 30-month debarment on Canada-based MTZ Equipment for fraudulent practices connected to Afghanistan’s On-Farm Water Management Project.
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ArticleData protection compliance lessons from UniCredit breach
UniCredit announced its cyber-security team has identified a data breach that compromised the personal records of approximately three million clients in Italy, highlighting critical compliance lessons for those in the financial services industry.
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Despite reputation, CFPB not toothless under new leadership
Mounting criticism for going too soft on the financial services industry under Trump has not stopped new CFPB Director Kathleen Kraninger from putting her own stamp on the agency. The latest enforcement actions offer valuable insights for compliance officers and corporate counsel.
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ArticleFTC proposes five amendments to NIST Privacy Framework
The FTC has submitted comment on NIST’s draft Privacy Framework, praising the agency for its proposal to help firms open a privacy dialogue and suggesting five amendments to improve upon the draft.
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ArticleUnethical practices at Infosys? SEC opens probe
The SEC has launched an investigation into Infosys based on an anonymous letter the agency received from several Infosys employees alleging CEO Salil Parekh forced them to engage in “disturbing unethical practices.”
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ArticleRisk management tips from Tullett Prebon compliance woes
The U.K. Financial Conduct Authority fined Tullett Prebon (Europe) Limited £15.4 million (U.S. $19.8 million) after its compliance department failed to implement adequate risk management systems.
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ArticleBig Four to FASB: Guidance needed on supplier financing arrangements
The Big Four accounting firms are asking FASB to provide guidance regarding the financial statement disclosures that should be provided by companies that have entered supplier finance programs involving their trade payables.
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ArticleCompliance lessons from recent nine-figure FCPA settlements
Walmart, TechnipFMC, Fresenius—just to name a few—have all fallen prey to the Foreign Corrupt Practices Act in a record year of jacked-up enforcement and sky-high penalties.
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ArticleIndictment: Ex-SEC official stole info to land CCO job
GPB Capital Holdings Chief Compliance Officer Michael Cohn faces multiple charges for allegedly disclosing unauthorized information accessed in his prior job at the SEC.
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ArticleUSTR will soon accept tariff exclusion requests
The Office of the U.S. Trade Representative will begin accepting tariff exclusion requests on Oct. 31 for Chinese imports subject to an additional 15 percent tariff that took effect Sept. 1.
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ArticleFASB announces upcoming CECL implementation workshops
FASB has announced upcoming workshops designed to help community banks and credit unions of all sizes implement the standard on current expected credit losses.
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ArticleFourth time a charm? Senate again passes whistleblower protection bill
The U.S. Senate has once again passed an act to allow employees who believe they are the victim of retaliation to file a complaint with the Secretary of Labor and to be reinstated to their former status if the Secretary finds in their favor.
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ArticleSFO closes long-running LIBOR manipulation investigation
The U.K. Serious Fraud Office has closed its investigation into manipulation of the London Interbank Offered Rate (LIBOR), ending a probe that began more than seven years ago.
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ArticleFirst-ever directory of companies’ anonymous reporting hotlines released
A newly published online directory offers employees of Fortune 500 companies 10 tips and other best practices for reporting sexual misconduct, ethical violations, and fraud.
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ArticleNIST provides guidance on how to bridge privacy, cyber-security processes
NIST’s new draft Privacy Framework offers much-needed guidance to help companies align their data privacy and cyber-security risk management practices.
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ArticleSEC seeks to thwart cryptocurrency masquerading as ICO
The SEC is taking a different approach to target initial coin offerings than it has in the past in the case of its complaint against Telegram Group and its wholly owned subsidiary TON Issuer.
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ArticleArgo launches review into ‘decrepit’ governance woes
Argo Group International Holdings recently announced the launch of a review into governance and executive compensation matters following an SEC subpoena and harsh criticism from an activist investor group.
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ArticlePCAOB swaps board members, faces whistleblower report
The SEC has ousted Kathleen Hamm as a board member at the PCAOB, replacing her with White House aide Rebekah Goshorn Jurata. The swap, along with a whistleblower report, signal internal strife at the audit regulator.