All articles by Kyle Brasseur – Page 37
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Article
New SEC enforcement head Alex Oh resigns for personal reasons
Alex Oh resigned as head of the Securities and Exchange Commission’s Enforcement Division for personal reasons after less than one full week on the job.
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ArticleCFTC ends whistleblower award drought with $3M payout
The Commodity Futures Trading Commission awarded approximately $3 million to a whistleblower in its first announced payout since September 2020.
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ArticleAlliance Steel to pay $435K for Iran sanctions lapses
The Office of Foreign Assets Control announced a $435,003 settlement with manufacturer Alliance Steel for apparent sanctions violations related to the company’s importation of engineering services from Iran.
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ArticleNew chief compliance officer, same Facebook
It isn’t surprising to see Facebook think it doesn’t have an ethical obligation to alert users to its latest data leak, writes Kyle Brasseur, but it is disappointing knowing the company now has a chief compliance officer in place.
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Article
Biden to nominate former CCO to lead DOJ’s Criminal Division
President Joe Biden will nominate Kenneth Polite as assistant attorney general to lead the Department of Justice’s Criminal Division. Polite previously worked as chief compliance officer at Fortune 500 electric power company Entergy.
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ArticleSFO launches fraud investigation into Buy2Let Cars owner
The U.K. Serious Fraud Office announced a fraud investigation into car leaser Buy2Let Cars and several other companies operated by Raedex Consortium. Further details are expected next month.
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ArticleIrish DPC seeking answers on Facebook breach
The Irish Data Protection Commission has reached out to Facebook seeking to determine whether the social media giant’s weekend data breach should receive scrutiny under the General Data Protection Regulation.
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ArticleItalian DPA fines Fastweb $5.3M under GDPR for aggressive telemarketing
The Italian Data Protection Authority announced a fine of €4.5 million (U.S. $5.3 million) against telecommunications company Fastweb for misusing customer data for telemarketing purposes.
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ArticleStudy: Financial services leads way in COVID-related CAMs
More than a quarter of companies citing COVID-19 in their critical audit matters filed with the PCAOB are part of the financial services industry, according to research from Audit Analytics.
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ArticleFASB finalizes goodwill triggering event standard update
The Financial Accounting Standards Board announced the adoption of an accounting standards update that provides an alternative for goodwill triggering event evaluation.
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ArticleDeutsche Bank restructures compliance amid leadership overhaul
Deutsche Bank announced a series of changes to its management board, including the upcoming departure of Chief Risk Officer Stuart Lewis and transition of compliance responsibilities to Chief Administrative Officer Stefan Simon.
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ArticleMcDonald’s names Desiree Ralls-Morrison general counsel
McDonald’s announced the appointment of Desiree Ralls-Morrison as general counsel and corporate secretary. Ralls-Morrison succeeds Jerome Krulewitch, who retired in October 2020 following his being diagnosed with Parkinson’s disease.
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Article
Enforcement an option as LIBOR deadline nears
Examiners from the Federal Reserve are being encouraged to consider supervisory actions against firms not ready to stop issuing LIBOR-based contracts by Dec. 31.
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Article
Binance tabs former FATF execs as compliance advisors
Cryptocurrency exchange Binance announced the appointment of former Financial Action Task Force executives Rick McDonell and Josée Nadeau as compliance and regulatory advisors.
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ArticleFox Corp. names new CECO, general counsel
Media giant Fox Corporation shook up its ethics and legal departments with the appointments of Jeff Taylor as general counsel and Nicholas Trutanich as chief ethics and compliance officer.
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ArticleCFTC joins SEC in climate risk push
The Commodity Futures Trading Commission announced the formation of a “Climate Risk Unit” to support the agency’s efforts to determine the role of derivatives in addressing climate-related risks.
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ArticleOch-Ziff ex-CFO fined $35K for role in bribery case
The former chief financial officer at then-Och-Ziff Capital Management Group has agreed to pay $35,000 in a settlement with the SEC for his role in the firm’s notorious bribery scheme.
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ArticleFCA confirms Dec. 31 end date for LIBOR
The U.K. Financial Conduct Authority put the nail in the coffin of LIBOR, confirming the widely used benchmark interest rate will cease to be available in most forms at the end of this year.
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ArticleOFAC crypto crackdown: Coinbase disclosures under review
Coinbase disclosed certain of its transactions are “under review” by the Office of Foreign Assets Control for potential violations of U.S. sanctions laws. Fellow cryptocurrency platforms BitGo and BitPay have each been fined by the regulator in the last three months.
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ArticleFormer KPMG auditors suspended for improper conduct during college audit
Former KPMG Partner Christopher Stanley and Senior Manager Jennifer Stewart were suspended by the SEC for improper professional conduct during an audit of the now-defunct College of New Rochelle.