All articles by Kyle Brasseur – Page 20
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News BriefOCC to banks: Don’t get complacent on risk monitoring
Banks should still be on guard despite relative calm in the industry compared to where things were three months ago following the collapse of Silicon Valley Bank, the Office of the Comptroller of the Currency warned.
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News BriefSEC spring 2023 regulatory agenda: 37 rules in final stage
The rest of the year is shaping up to be busy at the Securities and Exchange Commission, where final rules regarding climate-related disclosures, enhanced cybersecurity risk governance, and more are all on the near-term agenda.
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News Brief
SEC charges Sabby Management over short sales
New Jersey-based investment adviser Sabby Management and its managing partner were charged by the Securities and Exchange Commission with engaging in a fraudulent short selling scheme involving the stocks of nearly a dozen public companies.
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News BriefJPMorgan to pay $290M to settle Jeffrey Epstein class action
JPMorgan Chase announced it reached an agreement in principle to settle claims made in a class-action lawsuit regarding the bank’s ties to convicted sex offender Jeffrey Epstein.
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News BriefTreasury to review its compliance, enforcement efforts
The Treasury Department announced steps it is taking to improve its own compliance efforts, including a reassessment of the way it pursues enforcement actions.
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News Brief
SEC risk alert expands marketing rule exam focus areas
The Securities and Exchange Commission is expanding its examination focus regarding investment advisers’ compliance with its new marketing rule.
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News BriefBanking regs seek consistency via new TPRM guidance
U.S. banking regulators combined to issue final guidance on managing the risks of third-party relationships that replaces the previous documentation each agency released individually.
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News BriefSEC rule prohibits manipulating CCOs at security-based swaps
The Securities and Exchange Commission adopted two rules aimed at curbing potential misconduct in the security-based swaps market.
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News BriefFlorida marks 10 U.S. states with data privacy laws
Florida became the 10th U.S. state to pass a comprehensive consumer data privacy bill, though its law will only apply to larger businesses with more than $1 billion in annual revenue.
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News BriefPCAOB proposal puts pressure on auditors to find fraud
The Public Company Accounting Oversight Board proposed standard updates that would require auditors to enhance scrutiny toward potential instances of company noncompliance, including fraud, in their audit work.
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News BriefCantaloupe fined $1.5M in SEC accounting fraud case
Electronic payments software company Cantaloupe agreed to pay a $1.5 million penalty to settle allegations of accounting fraud levied by the Securities and Exchange Commission arising from improper revenue recognition practices.
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News BriefMicrosoft to pay $20M in FTC settlement over Xbox COPPA lapses
Microsoft agreed to pay $20 million as part of a settlement with the Federal Trade Commission addressing allegations its Xbox video game platform illegally collected and retained the personal information of children.
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News BriefSEC dismisses 42 cases after improper access findings
The Securities and Exchange Commission dismissed proceedings in 42 enforcement cases after disclosing improper staff access to restricted records at the agency occurred on a wider scale than initially identified.
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PremiumRisk assessment fundamentals: Flexibility, accountability, more
Tailoring your risk assessments to guidance from your relevant regulators is a good idea, a panel of compliance practitioners speaking at Compliance Week’s 2023 National Conference agreed. But it certainly isn’t the place to start.
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Premium‘Elephant in the room’: Combating tension between compliance, HR
Regulators are collaborating—both domestically and internationally—more than ever before. And they expect companies to be doing the same, noted panelists during a session on collaboration between compliance and human resources at Compliance Week’s 2023 National Conference.
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News BriefMeta fined record $1.3B in GDPR data transfer ruling
The Irish Data Protection Commission announced a record penalty of €1.2 billion (U.S. $1.3 billion) against Meta regarding its transfers of user data from the European Union to the United States in violation of the General Data Protection Regulation.
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OpinionHighlights from Compliance Week 2023
Significant changes in policy and technology, in addition to fresh perspectives on tried-and-true compliance topics, highlighted the discussion at Compliance Week’s 2023 National Conference.
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News BriefMurad to pay $3.3M for ‘egregious’ Iran sanctions lapses
California-based cosmetics company Murad, a subsidiary of Unilever, agreed to pay $3.3 million as part of a settlement with the Office of Foreign Assets Control addressing apparent Iran sanctions violations over an eight-year period.
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PremiumSurvey: Compliance tech priorities focused on TPRM in 2023
Respondents to a survey conducted by Compliance Week and FTI Consulting largely indicated third parties to be the most heightened area of risk to their businesses this year, with reporting and dashboarding and enhancing analytics capabilities among top priorities.
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News BriefSEC proposal seeks risk stability for clearing agencies
The Securities and Exchange Commission proposed a package of rule changes designed to enhance the risk management responsibilities and resilience of covered clearing agencies.