All articles by Kyle Brasseur – Page 43
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ArticleTerminated whistleblower receives $5M SEC award
A whistleblower terminated by his or her company soon after raising concerns internally about discovered misconduct was the recipient of a $5 million SEC payout—the seventh by the agency in the last month.
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ArticleBack against wall, Libra turns to compliance
Looking to get back on track for its planned 2020 release, Libra is pushing a new word at the forefront of its latest attempt to get critics on board with its digital currency mission: compliance.
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SEC’s Clayton stresses importance of coronavirus disclosures
With the close of the first quarter and earnings releases and investor calls around the corner, senior leadership at the SEC is pushing for full disclosure transparency regarding impact of the coronavirus pandemic.
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ArticleFASB votes to approve leases, rev rec delays amid coronavirus response
The Financial Accounting Standards Board ruled unanimously on tentative effective date delays to standards affecting revenue recognition and leases in response to the ongoing coronavirus pandemic.
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ArticleSEC continues whistleblower award surge with $2M payout
The Securities and Exchange Commission announced the award of $2 million to a whistleblower—its fifth payout in the last 12 days. For the year, the SEC has already matched its 2019 total of eight awards.
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SEC won’t delay Reg BI amid pandemic
The Securities and Exchange Commission has no plans to delay its controversial Regulation Best Interest rule despite the impact the ongoing coronavirus pandemic has had on U.S. markets.
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ArticleFASB to address coronavirus impact at April meeting
The Financial Accounting Standards Board announced its intent to meet April 8 and address standard-setting issues related to the ongoing coronavirus pandemic.
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ArticleApp offers $1M bounty for proof of alleged hacking smear campaign
Popular face-to-face social networking app Houseparty is on the defensive amid claims of a data breach, offering a $1 million bounty for proof in what it believes may be a “paid commercial smear campaign.”
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ArticleSEC issues rare compliance-related whistleblower award
The Securities and Exchange Commission announced it would award $450,000 to a whistleblower with compliance-related responsibilities—a rarity in the program’s history.
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Jefferies Group CFO dead from coronavirus complications
Jefferies Group announced the death of longtime Chief Financial Officer Peregrine “Peg” Broadbent from coronavirus complications.
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ArticleCECL delayed amid U.S. government’s coronavirus response
FASB’s controversial standard on credit losses was dealt two significant blows Friday as the U.S. government scrambles to respond to the financial impact of the escalating coronavirus pandemic.
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ArticleSwedish regulator delays SEB money laundering probe
Sweden’s financial regulator announced it will wait until June to conclude its money laundering investigation into Scandinavian Enskilda Banken AB (SEB) due to the coronavirus pandemic.
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DOJ begins enforcement crackdown on coronavirus fraud
The Department of Justice has acted swiftly on its vow to crack down on fraud during the coronavirus pandemic, issuing its first related enforcement action against a Website acting as an alleged wire-fraud scheme.
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ArticleSEC awards $1.6M to whistleblower for case-opening intel
The Securities and Exchange Commission announced an award of more than $1.6 million to a whistleblower whose information formed part of the basis for charges brought in a successful enforcement action.
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ArticleSwedbank cuts ex-CEO’s severance following AML probe
Swedbank has canceled the severance pay of its former CEO and accepted a record fine of 4 billion Swedish Krona (U.S. $390 million) in the wake of the findings of an independent investigation into its anti-money laundering deficiencies.
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ArticleU.K. AML report: Data analysis of risks lacking
Implementation of risk-based processes and the data analysis that sits behind them are among the biggest weaknesses laid out in a review of AML efforts in the accounting and legal sectors conducted by the U.K.’s financial watchdog.
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ArticleElon Musk’s response disappointing amid coronavirus chaos
Tesla CEO Elon Musk believes coronavirus panic is more harmful than the virus itself, but he’s done little to provide help in any form despite having the platform to do so.
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Swedbank announces new risk chief as probe nears end
Swedbank announced the appointment of Rolf Marquardt as chief risk officer just over a week prior to the expected announcement of the findings of a probe into its AML shortcomings conducted by law firm Clifford Chance.
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ArticleSwedbank notifies OFAC of potential sanctions violations
Swedbank announced it has reported approximately $4.8 million worth of transactions that might be subject to U.S. sanctions to the Treasury Department’s Office of Foreign Assets Control.
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ArticleSEC promotes virtual board meetings amid coronavirus crisis
The SEC has shared guidance to assist public companies, investment companies, shareholders, and other market participants affected by the coronavirus pandemic with their upcoming annual shareholder meeting obligations.