News | Compliance Week – Page 32
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News Brief
Norwegian DPA threatens Meta with fines over behavioral advertising
The Norwegian Data Protection Authority is set to impose a temporary ban on Meta carrying out behavioral advertising on Facebook and Instagram using the personal information of users in the country.
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News Brief
Latest CCPA sweep targets employee, applicant info protections
The California Office of the Attorney General has turned its attention to the practices of large companies regarding the protection of the personal information of employees and job applicants as part of its latest investigative sweep under the California Consumer Privacy Act.
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News Brief
FTC joins DOJ in rescinding healthcare antitrust guidance
The Federal Trade Commission announced the withdrawal of two antitrust policy statements the agency deemed “outdated.” The move puts the FTC in line with the Department of Justice, which announced a similar action earlier this year.
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News Brief
NextGen Healthcare to pay $31M in false claims case
Electronic health record technology vendor NextGen Healthcare agreed to pay $31 million as part of a settlement announced by the Department of Justice for allegedly misrepresenting the capabilities of its software.
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News Brief
CFTC whistleblower director steps down
Christopher Ehrman, the head of the whistleblower program at the Commodity Futures Trading Commission, departed the agency.
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News Brief
FTC questions OpenAI over ChatGPT data security practices
The Federal Trade Commission sent to ChatGPT developer OpenAI a list of questions seeking clarity on how the company monitors, collects, and retains user personal information and ensures control over its popular artificial intelligence chatbot.
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News Brief
OFAC head Andrea Gacki shifted to lead FinCEN
Treasury Secretary Janet Yellen announced the appointment of Andrea Gacki as director of the Financial Crimes Enforcement Network.
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News Brief
SEC on guard in adopting money market fund reforms
The Securities and Exchange Commission voted to approve rule changes affecting money market funds that the agency hopes fare better than previous efforts in the space.
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News Brief
PCAOB penalizes CohnReznick for late disclosure of SEC fine
Audit firm CohnReznick agreed to pay a $20,000 fine levied by the Public Company Accounting Oversight Board for allegedly disclosing late a penalty it received from the Securities and Exchange Commission.
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News Brief
Bank of America to pay $230M over junk fees, fake accounts
Bank of America agreed to pay approximately $230 million to settle charges levied by the Consumer Financial Protection Bureau and Office of the Comptroller of the Currency over alleged junk fees, withheld credit card rewards, and the opening of fake accounts.
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News Brief
Merrill Lynch fined $12M over SARs filing failures
Merrill Lynch was assessed penalties totaling $12 million by the Securities and Exchange Commission and Financial Industry Regulatory Authority for allegedly failing to file nearly 1,500 required suspicious activity reports over the course of a decade.
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News Brief
ADT discloses ICFR weaknesses related to impairment calculations
Home security company ADT said it will restate several of its recent financial statements after discovering errors in its calculation of goodwill impairment losses at its solar reporting unit.
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News Brief
EU adopts Privacy Shield replacement for U.S. data transfers
The European Commission announced it adopted a new agreement with the United States to allow for transatlantic data flows without fear of violating the European Union’s General Data Protection Regulation.
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News Brief
G7 task force to aid crack down on corruption in Ukraine
The Group of Seven justice ministers announced a Japan-led joint task force to “help Ukraine strengthen the rule of law and fight corruption,” according to U.S. Deputy Attorney General Lisa Monaco.
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News Brief
EU proposal eyes clearer GDPR cross-border case guidelines
The European Commission seeks to combat longstanding issues under the General Data Protection Regulation regarding cross-border cases with new proposed rules.
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News Brief
SEC orders Future FinTech Group to pay $1.65M over accounting lapses
Future FinTech Group agreed to pay $1.65 million to settle charges levied by the Securities and Exchange Commission for filing materially inaccurate annual reports and failing to maintain adequate books, records, and internal control over financial reporting.
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News Brief
Smart window-maker View avoids penalty in liability disclosure case
View, a California-based manufacturer of smart windows, avoided civil penalties after self-reporting apparent disclosure violations to the Securities and Exchange Commission.
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News Brief
PwC Australia removes chief risk officer after tax scandal review
PwC Australia exited eight partners, including its former chief risk and reputation officer, following an investigation into the sharing of confidential government tax policy information at the firm.
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News Brief
Court delays enforcement of CCPA changes to March 2024
Changes to the California Consumer Privacy Act expected to take effect July 1 have been stayed until March 2024 following a ruling from the Sacramento County Superior Court.
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News Brief
CFTC assembles task forces to combat cyber and tech issues, ESG fraud
The Enforcement Division of the Commodity Futures Trading Commission announced it established two new task forces to combat cyberattacks and misuse of technology and environmental fraud.