All articles by Jaclyn Jaeger – Page 6
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ArticleBlueCrest facing $55.5M fine for failing to manage fairly a conflict of interest
The U.K. Financial Conduct Authority announced its intention to fine hedge fund BlueCrest Capital Management £40,806,700 (U.S. $55.5 million) for failing to manage fairly a conflict of interest. BlueCrest has challenged the decision.
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ArticleNatWest to pay $35M for defrauding U.S. Treasury markets
NatWest Markets, the investment banking arm of London-based NatWest Group, agreed to pay approximately $35 million after pleading guilty to engaging in various fraud schemes over the span of a decade in U.S. Treasury markets.
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ArticleNikola to pay $125M to settle SEC fraud charges
Electric semitruck startup Nikola agreed to pay $125 million to settle charges brought by the SEC for defrauding investors by misleading them about its products, technical advancements, and commercial prospects.
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ArticleDesjardins reaches $155M proposed settlement in data breach class action
Desjardins Group has reached a proposed C$201 million (U.S. $155 million) settlement agreement in a class-action lawsuit following a long-running data breach that ultimately compromised the personal information of nearly 10 million individuals in Canada and abroad.
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ArticleSurvey highlights need for better data integration between risk and compliance
A recent survey from Compliance Week and Riskonnect presents a compelling argument for companies to invest in bridging the gap between risk management and compliance data.
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ArticleCCO Q&A: How Prime Trust is managing compliance in evolving crypto space
Compliance Week discusses with Nirvana Patel, chief compliance officer and BSA officer at Prime Trust, the unique challenges of practicing compliance in the cryptocurrency industry and his thoughts on the regulatory landscape moving forward.
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ArticleRisk and compliance considerations for fintech startups and their bank relationships
Fintech startups are typically free to enjoy rapid growth without the burden of strict regulatory oversight. But as scrutiny over the industry grows, so does the urgency for fintechs to get their compliance house in order.
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ArticleDutch DPA fines government tax authority $3.1M under GDPR
The Dutch Data Protection Authority announced a fine of €2.75 million (U.S. $3.1 million) against the government’s Tax and Customs Administration for data processing violations of the EU’s General Data Protection Regulation.
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ArticleNYDFS guidance addresses common MFA problems—and how to fix them
The New York State Department of Financial Services outlined common vulnerabilities in multi-factor authentication and how to address them from a cybersecurity risk management standpoint.
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ArticleLucid Group facing SEC subpoena over recent SPAC merger
Lucid Group said it received a subpoena from the Securities and Exchange Commission concerning its special purpose acquisition company merger this summer.
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PremiumTop ethics and compliance failures of 2021
Systemic risk management lapses at a financial services firm, allegations of toxic culture at a video game giant, and more of the same baffling behavior from one of the world’s largest tech companies comprise CW’s list of the biggest ethics and compliance fails of 2021.
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Ex-Immunomedics CFO charged with insider trading
The SEC charged former Immunomedics Chief Financial Officer Usama Malik and his former romantic partner with insider trading. The Department of Justice also announced criminal charges for securities fraud.
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ArticleEx-Roadrunner CFO gets two years in prison for accounting fraud scheme
Peter Armbruster, the former chief financial officer of trucking and logistics company Roadrunner Transportation Systems, was sentenced to 24 months in prison for his role in a complex securities and accounting fraud scheme.
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ArticleFTC targets Walmart, Amazon, and more for study into supply chain disruptions
The Federal Trade Commission is ordering nine large retailers, wholesalers, and consumer goods suppliers to provide wide-ranging information as part of a study the agency is conducting into the causes behind ongoing supply chain disruptions.
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ArticleSEC updates guidance on ‘spring-loaded’ compensation awards
The Securities and Exchange Commission released new guidance for listed companies on how to properly recognize and disclose compensation costs for “spring-loaded” awards made to executives.
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ArticleSBM Offshore subsidiaries fined $7.6M in Swiss bribery probe
The Swiss Public Prosecutor’s Office ordered three subsidiaries of Dutch oil and gas services company SBM Offshore to pay a criminal penalty of CHF 7 million (U.S. $7.6 million) as part of the conclusion of a legacy bribery investigation.
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ArticleEx-LeClairRyan chief legal officer sentenced to 44 months imprisonment
A former chief legal officer of now-defunct law firm LeClairRyan was sentenced to 44 months in prison and ordered to pay a $10,000 fine after pleading guilty to obstructing an embezzlement investigation into his own fraudulent conduct as a bankruptcy trustee.
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ArticleCassava Sciences facing widening probe over short seller claims
The SEC has reportedly launched an investigation into Cassava Sciences regarding allegations made against the clinical-stage biopharmaceutical company and its experimental Alzheimer’s drug by a law firm representing anonymous short sellers.
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ArticleActivision Blizzard case study: When CCOs become the CEO’s mouthpiece
Many chief compliance officers report directly to the board or chief executive officer. But what happens to the CCO when the CEO is the problem? Take Activision Blizzard as an example of what not to do.
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ArticleDeutsche Bank names Olivier Vigneron group chief risk officer
Deutsche Bank announced the appointment of Olivier Vigneron as group chief risk officer. Following regulatory approvals, Vigneron will assume the role effective June 1, 2022.