All articles by Jaclyn Jaeger – Page 57
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ArticleTwo benchmark reports reveal in-house counsel salary trends
In-house counsel looking to see how their annual salaries stack up against their peers can refer to two new reports that offer benchmarking data.
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Blog
SFO joint head of fraud: ‘Engage now or hide behind smoke and mirrors at your peril’
Hannah von Dadelszen, the U.K. Serious Fraud Office’s joint head of fraud, in recent remarks offered some useful insight as to how a company should engage with the SFO if it chooses to self-report misconduct.
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UBS faces civil complaint for fraud in the sale of residential mortgage-backed securities
The Department of Justice announced that a civil complaint has been filed against UBS and several of its U.S. affiliates, alleging that UBS defrauded investors throughout the United States and the world in connection with its sale of residential mortgage-backed securities from 2006 through 2007.
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Commissioner Peirce: the meaningless of enforcement numbers and penalty amounts
The SEC’s Enforcement Division issued its annual report this month, highlighting the Division’s activities in fiscal year 2018 from both a qualitative and quantitative perspective. Focusing on enforcement numbers and penalty amounts alone is meaningless, SEC Commissioner Hester Peirce said in recent remarks.
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Goldman Sachs offers details of 1MDB probe
Goldman Sachs disclosed has received subpoenas and requests for documents and information from various governmental and regulatory bodies and self-regulatory organizations as part of investigations and reviews relating to financing transactions and other matters involving 1MDB, Malaysian government’s sovereign wealth fund.
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MoneyGram to forfeit $125M for AML compliance lapses; DPA extended
MoneyGram on Nov. 8 entered into agreements with the U.S. Department of Justice and the Federal Trade Commission concerning previously disclosed compliance failures that resulted in a widespread money-laundering fraud scheme.
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ArticleCCO salary trends 2018: Industrial, manufacturing lead way
BarkerGilmore’s 2018 Compliance Compensation Report offers benchmarking data and a glimpse into salary trends for both chief compliance officers and employers.
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Citibank to pay $38.7M for improper handling of ADRs
Citibank has agreed to pay $38.7 million to settle charges of improper handling of “pre-released” American Depositary Receipts, the Securities and Exchange Commission announced on Nov. 7.
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Walmart reaches proposed class-action settlement for $160M
Walmart has reached a proposed $160 million settlement with the City of Pontiac General Employees’ Retirement System in a securities fraud class-action lawsuit concerning a long-running investigation into violations of the Foreign Corrupt Practices Act.
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Capital One pays $100M for AML compliance deficiencies
The Office of the Comptroller of the Currency has assessed a $100 million civil money penalty against Capital One and Capital One Bank for deficiencies in the financial concern’s Bank Secrecy Act/Anti-Money Laundering program.
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Survey: Financial firms looking for communications risks all wrong
A new survey finds that compliance professionals in the financial services industry are not keeping pace with their retention and supervision efforts, particularly as a growing, younger workforce relies on expanding, mobile-friendly channels, such as social media and text messaging.
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ArticleA wake-up call in cyber supply-chain risk
Recent reports of a massive cyber-supply chain attack by Chinese spies on several U.S. companies’ servers have companies stressing about their own supply chain vulnerabilities.
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OECD to Mexico: Increase foreign bribery enforcement
Mexico needs to give more priority to foreign bribery enforcement, according to the Organization for Economic Cooperation and Development in its Phase 4 evaluation of Mexico’s implementation of the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions and related instruments.
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ArticleA compliance readiness plan for ‘NAFTA 2.0’
The United States, Mexico, and Canada have reached a long-awaited revamped trade agreement, which goes by the moniker “NAFTA 2.0.” The pact portends significant changes to the global trade compliance space.
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BDO survey: Boards strive to keep pace with digital transformation
Digital transformation initiatives are making their way to the top of boardroom agendas, according to findings from a new cyber-governance survey.
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Mashreq responds to NYDFS consent order
Mashreqbank has issued a statement in response to its consent order reached with the New York State Department of Financial Services on Oct 18 for violations of U.S. Bank Secrecy Act and Anti-Money Laundering laws in the New York branch’s U.S. dollar clearing operations.
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BlogOFAC takes action against ‘vast network’ of ‘Specially Designated Global Terrorists’
The U.S. Department of Treasury’s Office of Foreign Assets Control on Oct. 16 took action against a vast network of Iranian entities for providing financial support to the Basij Resistance Force, a paramilitary force that recruits, trains, and deploys child soldiers.
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OFAC sanctions Iraq-based money services business
The U.S. Department of the Treasury’s Office of Foreign Assets Control imposed sanctions on Afaq Dubai, an Iraq-based money services business that has been moving money for the Islamic State of Iraq and Syria (ISIS).
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Article
Best practices in third-party risk management
NAVEX Global’s fourth annual third-party risk management benchmark report offers risk and compliance officers a glimpse at how their third-party risk management programs stack up against their peers.
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Criminal Division does an about-face on hiring a compliance counsel
The Department of Justice has scrapped its decision to hire another compliance counsel and instead announced a new, agency-wide approach to compliance oversight.