All articles by Kyle Brasseur – Page 24
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ArticleDOJ declines to prosecute Safran over alleged FCPA violations
The U.S. Department of Justice informed French aircraft equipment manufacturer Safran that the company would not face prosecution regarding alleged bribes paid by employees at two subsidiaries to a China-based consultant.
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ArticleDeloitte fined $1.1M for SIG audit lapses
Deloitte received a penalty of £906,250 (U.S. $1.1 million) from the U.K. Financial Reporting Council for evidence failures regarding supplier rebates and cash uncovered in its 2015 and 2016 financial year audits at specialist building product distributor SIG.
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ArticleBNP Paribas names new head of compliance
BNP Paribas, France’s largest bank, announced the appointment of Stéphanie Maarek as its new head of compliance. She succeeds Nathalie Hartmann, who held the role since 2017.
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PremiumTPRM panel: Underscoring need for first line of defense to own risk
Panelists discussing risk ownership at CW’s virtual TPRM and Oversight Summit share their experiences educating first-line leaders on their roles and responsibilities in the TPRM process.
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ArticleDOJ, SEC extend Ericsson compliance monitorship one year
Swedish telecommunications company Ericsson agreed with U.S. authorities on a one-year extension of its independent compliance monitorship after a second breach of its obligations under a deferred prosecution agreement earlier this year.
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ArticlePortugal statistics office fined record $4.6M for GDPR violations
The government office for national statistics in Portugal was assessed a fine of €4.3 million (U.S. $4.6 million) by the country’s data protection authority for multiple violations of the General Data Protection Regulation that occurred during its 2021 census work.
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PremiumCCO/CECO salary data: Five noteworthy trends
Chief compliance officers are earning more than before compared to previous years of our “Inside the Mind of the CCO” survey, though trends like differences in gender pay persist.
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ArticleCompliance implications of Danske Bank’s $2B Estonia money laundering settlement
Danske Bank reached final resolutions with U.S. and Danish authorities to settle allegations regarding widespread anti-money laundering deficiencies at its former Estonia branch.
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PremiumDOJ calling out compliance with 2022 policy shifts
If it seems the Department of Justice has compliance officers in its crosshairs with its controversial policy changes this year, that’s because it does. Some respondents to our annual “Inside the Mind of the CCO” survey embrace the challenge, while others are still skeptical.
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ArticleThree KPMG firms disciplined in $7.7M enforcement sweep
The Public Company Accounting Oversight Board announced $7.7 million in total penalties against three separate KPMG firms and four individuals for varying violations of audit standards and ethical rules, including alleged exam cheating.
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ArticleFive compliance triumphs from 2022
Positive contributions in the areas of ESG, AI responsibility, and setting standards regarding CCO liability highlight the latest installment of CW’s annual list of laudable ethics and compliance moments.
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ArticleClubhouse app operator fined $2M for GDPR violations
Alpha Exploration, operator of the social media app Clubhouse, received a penalty from the Italian data protection authority for the unlawful processing of EU citizens’ data in violation of the General Data Protection Regulation.
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ArticleNo time managing risk? No wonder FTX collapsed
Sam Bankman-Fried’s admission he put no effort into risk management in leading cryptocurrency exchange FTX makes it easy to understand how the firm collapsed so quickly.
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ArticleSEC adds whistleblower retaliation charges against ex-NS8 CEO
Adam Rogas, the former CEO of cyber-fraud prevention company NS8 who was sentenced to five years in prison for fraud, now faces charges of impeding and retaliating against a whistleblower following an amended complaint from the Securities and Exchange Commission.
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ArticleGoldman Sachs unit fined $4M for ESG investment lapses
Goldman Sachs Asset Management agreed to pay $4 million to settle SEC charges it failed to follow its own policies and procedures regarding a trio of investment products marketed for their environmental, social, and governance considerations.
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ArticleElizabeth Holmes sentenced to 11-plus years in prison
Theranos Founder Elizabeth Holmes was sentenced to more than 11 years in prison Friday after being convicted of fraud earlier this year for her actions as head of the defunct blood-testing company.
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ArticleDiscord fined $830K for GDPR lapses
Discord, a popular communication service primarily utilized by the video game community, was assessed a fine of €800,000 (U.S. $829,000) by the French data protection authority for multiple violations of the General Data Protection Regulation related to safeguarding user data.
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Cybersecurity staffing woes play part in FTC Safeguards Rule delays
The Federal Trade Commission extended the deadline for compliance with certain changes to its Safeguards Rule announced last year, in part because of labor shortages in the cybersecurity market.
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ArticleWalmart to pay $3.1B in nationwide opioid settlement
Walmart announced it agreed to a $3.1 billion nationwide settlement designed to resolve all the potential state lawsuits it faces for its alleged role in fueling the opioid epidemic.
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Former investment adviser CCO pleads guilty to wire fraud
Jennifer Campbell, the former chief compliance officer of a New York-based investment adviser, faces up to 20 years in prison and a $250,000 fine after pleading guilty to wire fraud in federal court.