All articles by Jaclyn Jaeger – Page 57
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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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Blog
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.
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A look at the new corporate monitorship policy
The Department of Justice on Oct. 11 issued revised guidance to establish standards, policies, and procedures for the selection of monitors in matters being handled by Criminal Division attorneys. The new guidance further refines the factors that go into the determination of whether a monitor is needed and clarifies and ...
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SNC-Lavalin: Canadian authorities reject plea deal
Engineering and construction company SNC-Lavalin has been advised by the Director of the Public Prosecution Service of Canada (DPPSC) that, at this time, it will not “invite” the company to negotiate a deferred prosecution agreement.
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German DPAs begin random GDPR examinations
The Data Protection Authority of the German state of Lower Saxony recently began random examinations into how well companies are implementing the EU’s General Data Protection Regulations. Compliance officers of U.S. companies with operations in Germany should be on alert.
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Article
The ‘Weinstein Clause’: M&A deals in the #MeToo era
A CW analysis identified 15 M&A deals over the past eight months in which firms protected themselves in writing from sexual harassment allegations. Known as the “Weinstein Clause,” these protections still don't address the heart of the matter: corporate culture.
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SFO set to recover proceeds from Uzbekistan corrupt deals
The U.K. Serious Fraud Office said it has issued a claim for civil recovery in the High Court under Part 5 of the Proceeds of Crime Act 2002.
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ICO takes action for failure to pay new data protection fee
The U.K. Information Commissioner’s Office has taken formal enforcement action against 34 organizations that have failed to pay the new data protection fee.
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ICO issues first formal GDPR enforcement action
Canadian data analytics firm AggregateIQ Data Services has become the first company to face a formal enforcement action by the U.K. Information Commissioner’s Office for violations of the EU General Data Protection Regulation and the U.K. Data Protection Act.
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U.S. judge extends term of ZTE monitor: Here’s why
A U.S. district court judge has extended for two more years the term of ZTE’s court-appointed compliance monitor after the telecommunications company violated a condition of its probation resulting from U.S. sanctions violations.
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Article
Petrobras case sheds light on how to avoid a corporate monitor
Any company under a criminal investigation by the U.S. government looking to avoid the appointment of a compliance monitor will want to take a page from Brazilian state-owned energy company Petrobras. Gibson Dunn partner Joe Warin, who represented Petrobras, offers some tips inside.
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Blog
World Bank Group issues first Sanctions System Annual Report
The World Bank Group debarred 78 firms and individuals during fiscal year 2018, according to its inaugural Sanctions System Annual Report, issued on Oct. 3.
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Article
Benchmarking study: Compliance programs in retail industry need to grow up
A new study that takes a hard look at retail companies finds the industry as a whole needs to elevate and mature its compliance programs.