Orla Mining names CSO
Orla Mining announced the appointment of Dr. Silvana Costa as the company’s new chief sustainability officer, effective Jan. 13.
The Westaim Corporation appoints CRO
The Westaim Corporation announced that Matthew Skurbe will be appointed chief financial officer and chief risk officer.
Top E&C fails of 2024: Boeing, TD Bank, RTX/Raytheon on compliance naughty list
The biggest Compliance Fails of 2024 show the real-world consequences of noncompliance for the companies that faltered, but also for their customers and their employees.
Carleton University names GC
Carleton University announced that Richard Sinclair will take on the role of general counsel, effective Jan. 6.
Power Sustainable promotes GC to COO
Power Sustainable announced the appointment of its General Counsel Delia Cristea as new chief operating officer.
Bitfarms appoints US general counsel
Bitfarms, vertically integrated Bitcoin data center operations firm, announced that it has appointed Rachel Silverstein as US general counsel.
Underfunding of BSA/AML compliance made TD Bank an unwitting partner to cross-border crime
Law enforcement officials stumbled on TD Bank’s role in money laundering while investigating a Mexican drug cartel. They found that the bank’s corporate culture considered compliance, particularly BSA/AML compliance, a low priority. As they dug deeper, authorities discovered that multiple money laundering schemes had infiltrated the bank’s network.
Real estate firm JLL fined by Canada’s FINTRAC for AML, KYC failures
Canada’s anti-money laundering regulator fined Toronto-based real estate firm Jones Lang Lasalle $107,827 Canadian dollars (U.S. $77,632) for six violations of its anti-money laundering rules, after discovering gaps in recordkeeping and reporting requirements for know your customer rules.
Genus Capital Management appoints sustainability chief
Genus Capital Management announced the appointment of Stephanie Tsui as the firm’s new chief sustainability officer.
TD Bank fined nearly $3.1B by U.S. regulators for AML compliance failures
TD Bank will pay nearly $3.1 billion in penalties to four U.S. regulators to settle charges that it “chose profits over compliance” when it allowed three money laundering networks to filter more than $670 million in dirty money through the company.
Cando Rail & Terminals names first legal chief
Cando Rail & Terminals announced the appointment of Eric Buettner as the company’s first chief legal officer.
Teck announces legal, sustainability chief
Teck Resources Limited announced the appointment of Lyndon Arnall as executive vice president and chief legal and sustainability officer, effective Nov. 1.
CFPB orders TD Bank to pay $28M for sending false info to credit agencies
TD Bank has been ordered to pay $27.7 million and implement compliance measures, for providing inaccurate, negative credit information to credit agencies about tens of thousands of its customers and taking too long to fix the errors, the Consumer Financial Protection Bureau said.
Info-Tech Research Group announces legal chief
Info-Tech Research Group has appointed Ryan Huggett to the role of chief legal officer.
Patriot Battery Metals names Pilbara Minerals’ GC as executive vice president
Patriot Battery Metals announced that Alex Eastwood, one of the founding senior executives at Pilbara Minerals in the roles of general counsel, chief commercial and legal officer, and company secretary, will join as executive vice president–commercial.
TD Bank discloses liabilities over AML probes in U.S. balloon to $2.6B
TD Bank has set aside $2.6 billion to settle allegations made by U.S. regulators that deficiencies in its anti-money laundering program allowed fentanyl traffickers to launder money on its platform.
CPP Investments announces risk chief
Canada Pension Plan Investment announced that Priti Singh is appointed as senior managing director and chief risk officer.
GHD welcomes chief legal officer
Global professional services company GHD has named May Lin Chew as chief legal officer, effective Aug. 19.
Ontario Tech appoints new GC
Ontario Tech University announced the appointment of Jennifer MacInnis as its general counsel, effective Aug. 15.
VersaBank appoints chief risk officer
VersaBank announced the appointment of Tim Bloom as chief risk officer.
Defense Metals names former Philip Morris GC to board
Defense Metals announced the appointment of Suzanne Rich Folsom, who was most recently senior vice president and general counsel at Philip Morris International, to the board of directors of the company.
Lomiko announces chief sustainability officer
Canadian mining company Lomiko Metals announced Cindy Valence will join as chief sustainability officer.
Laurentian Bank announces chief risk officer
Montreal-based Laurentian Bank announced the appointment of Christian De Broux as chief risk officer.
TD Bank risk chief laments ‘procedural weaknesses’ in U.S. AML program
TD Bank Chief Risk Officer Ajai Bambawale said “procedural weaknesses” in the institution’s U.S. anti-money laundering program allowed bad actors to exploit its network.
National Bank of Canada announces new risk chief
National Bank of Canada announced Jean-Sébastien Grisé, currently senior vice president and chief credit officer, will be appointed as executive vice president, risk management and chief risk officer.
Canadian parliament adds to TD Bank AML scrutiny
Canadian lawmakers will come together to discuss TD Bank’s reported failure to prevent drug traffickers from laundering proceeds of fentanyl sales on its platform.
FINTRAC fines Binance $4.4M over AML/CFT violations
The Financial Transactions and Reports Analysis Centre of Canada imposed a penalty of approximately CAD$6 million (U.S. $4.4 million) against crypto platform Binance over alleged noncompliance with the country’s anti-money laundering/countering the financing of terrorism law.
Lululemon facing probe in Canada over greenwashing complaints
Athletic apparel company Lululemon is under investigation by the Canadian Competition Bureau regarding whether it made misleading claims about environmental aspects of its business.
Plooto names chief compliance officer
Plooto, a payment automation solution for small-to-midsize businesses, welcomed Christopher Wassenaar as chief compliance officer.
FINTRAC fines TD Bank record $6.7M over AML program failings
The Financial Transactions and Reports Analysis Centre of Canada fined TD Bank nearly CAD$9.2 million (U.S. $6.7 million) for failing to comply with its anti-money laundering regulations.
TD Bank reserves $450M for BSA/AML enforcements
TD Bank said it set aside $450 million to settle regulatory and law enforcement investigations, including by the Department of Justice, into its anti-money laundering and Bank Secrecy Act programs.
RBC unit fined by FINRA over trade confirmation violations
RBC Capital Markets agreed to pay nearly $769,000 to settle allegations levied by the Financial Industry Regulatory Authority, in part, over sending inaccurate information in trade confirmations to customers over nearly a decade.
WildBrain appoints general counsel
Family entertainment company WildBrain appointed Mark Trachuk as general counsel.
Borderless AI appoints ex-Visa, PayPal CCO to board
Payroll solution startup Borderless AI appointed Leonard Shen, the former chief compliance officer at Visa and PayPal, to its board of advisors.
Thunderbird Entertainment announces general counsel
Canadian film and television company Thunderbird Entertainment Group announced the promotion of Lori Massini to general counsel.
Policy changes underscore need for enhanced child labor due diligence
Rooting out potential child or forced labor violations in your company’s supply chain can have benefits beyond protecting reputation and being ethically sound. The process can also help your firm comply with pending child labor laws in other jurisdictions.
Marimaca Copper appoints general counsel
Canadian copper company Marimaca Copper Corp. welcomed Solange González as general counsel and corporate secretary.
EnGene Holdings announces legal chief
EnGene Holdings, a clinical-stage genetic medicines company, announced the appointment of Lee Giguere as chief legal officer and corporate secretary.
Royal Bank of Canada names ex-Wells Fargo risk chief to board
Royal Bank of Canada announced Amanda Norton, former Wells Fargo executive vice president and chief risk officer, was appointed to its board of directors.
TD Bank reportedly facing fine for faulty AML controls
The Financial Transactions and Reports Analysis Centre of Canada is reportedly preparing to issue its largest fine to date against TD Bank for faulty anti-money laundering controls.
Northland Power promotes legal chief
Canada-based Northland Power announced Yonni Fushman, chief legal officer and executive vice president of sustainability, was promoted to chief administrative and legal officer.
Report: Canada’s FINTRAC to increase reliance on AI
Canada’s financial intelligence agency aims to increase its use of artificial intelligence technology to improve its capabilities to analyze data and detect suspicious activity, according to an agency official.
Ethical compliance for facial recognition technology
The lack of clear regulations and guidelines for the ethical use of facial recognition technology further exacerbates concerns of discriminatory practices and potential infringements on human rights.
FINTRAC fines CIBC $950K over AML lapses
The Canadian Imperial Bank of Commerce received the second penalty for alleged deficiencies regarding suspicious transaction reporting announced this week by Canada’s financial intelligence agency.
Great Gulf Group hires chief legal officer
Real estate company Great Gulf Group hired Corinne Pruzanski as chief legal officer.
Canada’s AML agency fines RBC $5.5M over suspicious transaction reports
Royal Bank of Canada was assessed an administrative penalty of nearly 7.5 million Canadian dollars (then-U.S. $5.5 million) in November by the country’s financial intelligence agency for alleged deficiencies in its suspicious transaction reporting mechanisms.
AIMCo announces chief legal officer
The Alberta Investment Management Corp. announced the appointment of Shelley Nixon as chief legal officer.
KWESST names corporate controller as chief compliance officer
Technology company KWESST Micro Systems appointed its Corporate Controller Kris Denis as chief compliance officer.
TD Bank unit fined $600K by FINRA over email review lapses
TD Private Client Wealth agreed to pay a $600,000 penalty levied by the Financial Industry Regulatory Authority for allegedly failing to review millions of employee emails as required by the self-regulatory organization’s rules.
SEC, Canadian regs fine RBC $6M for accounting failures
Royal Bank of Canada will pay $6 million in total penalties to settle charges from the Securities and Exchange Commission and two Canadian regulators that it failed to properly record software development costs for more than a decade.