All articles by Jeff Dale – Page 5
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News Brief
Alphabet to pay shareholders $350M over Google+ privacy lapses
Alphabet, the parent company of technology giant Google, agreed to pay $350 million in a preliminary settlement with shareholders over alleged data privacy violations and materially false and misleading statements linked to now-defunct social media site Google+.
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News Brief
Westpac ordered to pay $1.2M in insider trading case
Westpac Banking Corp. was assessed a maximum fine of AUS$1.8 million (U.S. $1.2 million) to address charges levied by the Australian Securities and Investments Commission of insider trading related to an interest rate swap transaction.
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News Brief
Blackbaud avoids fine in FTC deal requiring data deletion
Software company Blackbaud will be required to delete unnecessary data and boost cybersecurity as part of a proposed settlement with the Federal Trade Commission stemming from a 2020 data breach.
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News Brief
FinCEN alert flags Israeli extremists fomenting violence in West Bank
The Financial Crimes Enforcement Network issued an alert addressing the financing of Israeli extremist settler violence against Palestinians in the West Bank.
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News Brief
City National Bank ordered to pay $65M over deficient risk, internal controls
The Office of the Comptroller of the Currency levied a $65 million civil penalty against Los Angeles-based City National Bank over alleged risk management and internal control failures.
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News Brief
Calavo Growers discloses potential FCPA issues
Multinational produce and agriculture company Calavo Growers disclosed in an annual filing an investigation into its Mexico operations found potential issues under the Foreign Corrupt Practices Act.
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News Brief
PRA fines HSBC units $73M over deposit protection failures
The Bank of England’s Prudential Regulation Authority penalized two HSBC units £57.4 million (U.S. $73 million) over historic failures in deposit protection identification and notification.
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News Brief
TD Bank reportedly facing fine for faulty AML controls
The Financial Transactions and Reports Analysis Centre of Canada is reportedly preparing to issue its largest fine to date against TD Bank for faulty anti-money laundering controls.
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News Brief
Calif. AG launches sweep into streaming apps’ compliance with CCPA
California Attorney General Rob Bonta announced the launch of an investigative sweep targeting popular streaming apps and devices, alleging noncompliance with the California Consumer Privacy Act.
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News Brief
MGM Grand, Cosmopolitan fined $7.5M total over BSA violations
Two Las Vegas casinos agreed to pay penalties of nearly $7.5 million as part of separate non-prosecution agreements with the Department of Justice addressing violations of the Bank Secrecy Act over alleged anti-money laundering compliance failings.
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News Brief
Aon unit to pay $1.5M for misleading pension fund
Aon Investments USA and its former partner agreed to pay nearly $1.6 million in combined penalties to settle charges by the Securities and Exchange Commission that they misled a Pennsylvania school pension fund.
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News Brief
ICO seeking input on generative AI to inform guidance
The U.K. Information Commissioner’s Office is seeking input from developers, users, and those interested in generative artificial intelligence to help inform policy and guidance regarding the technology.
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News Brief
FINRA report highlights crypto communication violations
The Financial Industry Regulatory Authority announced it uncovered potential violations of its disclosure rules in 70 percent of crypto asset communications reviewed during a targeted exam.
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News Brief
ADM puts CFO on leave pending accounting probe
Food processing company ADM announced Chief Financial Officer Vikram Luthar was placed on administrative leave pending an investigation into accounting practices and procedures flagged by the Securities and Exchange Commission.
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News Brief
NYDFS: Banks must vet execs, including CCOs, ‘not just upon hiring’
The New York State Department of Financial Services released final guidance on how banks and non-depository financial institutions should vet executives, including chief compliance officers, before and during their employment.
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News Brief
UAE joins pact with U.S. on cybersecurity cooperation
The United States and United Arab Emirates finalized an agreement to work together to safeguard the financial sector from cyberattacks.
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Podcast
Digital Transformation of Compliance podcast: Stellantis CCO Darren Bradshaw
In this episode of the Digital Transformation of Compliance podcast series, Darren Bradshaw, chief audit and compliance officer at Stellantis, shares how the automaker has digitized and automated parts of its compliance function.
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News Brief
Blackbaud settles with states for $49.5M over 2020 data breach
Software company Blackbaud agreed to pay $49.5 million in a multistate settlement addressing charges related to a 2020 cyberattack that exposed the personal data of approximately 13,000 consumers.
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News Brief
FCA fines Equifax’s U.K. unit $13.3M over 2017 data breach
The Financial Conduct Authority fined Equifax’s U.K. unit more than £11 million (U.S. $13.3 million) regarding the company’s 2017 data breach that affected approximately 13.8 million U.K. consumers.
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News Brief
FCA fines, bans ex-Barclays CEO Staley over misrepresented Epstein ties
Former Barclays CEO Jes Staley was fined £1.8 million (U.S. $2.2 million) and banned from serving in a senior management role in the financial services industry by the U.K. Financial Conduct Authority for allegedly misleading the regulator regarding his ties to Jeffrey Epstein.