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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2024-04-11T20:32:00
Earning self-reporting credit from the Commodity Futures Trading Commission (CFTC) is no simple task, the agency’s enforcement director conceded.
Voluntary self-disclosure is only the first step, Ian McGinley reminded an audience of legal experts during a keynote address delivered at an industry event Thursday. From there, a firm must cooperate and remediate as well for the chance to earn full credit from the agency.
“Self-reporting, cooperation, and remediation implicate the importance of trust in these negotiations, which is a two-way street—the regulator’s reliance on the entity to be truthful and fully cooperative and the entity’s reliance on the regulator to account for the self-report in good faith,” he said.
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News and analysis for the well-informed compliance or audit exec.
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Subscribe now for $365
Our lowest price ($1 per day) for one year.
2024-04-17T17:00:00Z By Aaron Nicodemus
The Department of Justice launched a new pilot program that encourages voluntary self-disclosure by corporate executives who are themselves involved in financial misconduct, with the incentive of a nonprosecution agreement for those who help an agency investigation.
2024-04-04T01:27:00Z By Jeff Dale
The Commodity Futures Trading Commission ordered an Australian swap dealer to pay $500,000 over admitted supervision failures related to a deficient spoofing surveillance tool.
2024-03-15T11:41:00Z By Kyle Brasseur
The Commodity Futures Trading Commission announced a landmark whistleblower award of approximately $1.25 million to an individual in an internal compliance or audit function who came forward with information on misconduct occurring at his or her employer.
2024-07-02T20:35:00Z By Adrianne Appel
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
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