All Risk Management articles – Page 41
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News BriefMurad to pay $3.3M for ‘egregious’ Iran sanctions lapses
California-based cosmetics company Murad, a subsidiary of Unilever, agreed to pay $3.3 million as part of a settlement with the Office of Foreign Assets Control addressing apparent Iran sanctions violations over an eight-year period.
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PremiumSurvey: Compliance tech priorities focused on TPRM in 2023
Respondents to a survey conducted by Compliance Week and FTI Consulting largely indicated third parties to be the most heightened area of risk to their businesses this year, with reporting and dashboarding and enhancing analytics capabilities among top priorities.
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News BriefDeutsche Bank to pay $75M to settle Jeffrey Epstein sex trafficking suit
Deutsche Bank agreed to pay $75 million to settle a class-action lawsuit filed by sexual assault victims of Jeffrey Epstein.
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PremiumJPMorgan whistleblower candidly shares experiences at CW2023
If compliance officers are good at their jobs, they can expect to eventually catch their employers breaking the law, whistleblower Edward Siedle told attendees during a fireside chat at Compliance Week’s 2023 National Conference.
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News BriefWells Fargo to pay $1B to settle suit over consent order noncompliance
Wells Fargo agreed to pay $1 billion to settle a class-action lawsuit filed by shareholders who claimed the bank overstated its progress in complying with regulatory orders related to its 2016 fake accounts scandal.
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News BriefSEC proposal seeks risk stability for clearing agencies
The Securities and Exchange Commission proposed a package of rule changes designed to enhance the risk management responsibilities and resilience of covered clearing agencies.
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PremiumDOJ official: Compliance team access, visibility into data a sign of effectiveness
One of the ways the Department of Justice will assess a firm’s compliance program is by judging how accessible and visible a company’s data is to its compliance function, an agency official told attendees at Compliance Week’s 2023 National Conference.
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PremiumCW2023 leadership panel assesses new DOJ priorities, training impact
Recent policy changes at the Department of Justice provided plenty of fodder for a leadership panel of senior legal and compliance practitioners to discuss during Compliance Week’s 2023 National Conference.
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News BriefEx-Apple engineer charged with theft of trade secrets in DOJ sweep
A new strike force co-led by the Department of Justice and Commerce Department made an impact when charges against a former Apple engineer for theft and attempted theft of trade secrets were included as part of its first enforcement actions.
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PremiumGlenn Leon at CW2023: CCO experience driving DOJ’s compliance program evaluations
Glenn Leon, head of the Department of Justice’s Fraud Section, said “compliance is a very big area of focus” for the agency, during a fireside chat at Compliance Week’s 2023 National Conference.
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PremiumCW2023: Lessons still to be learned from Bernie Madoff scandal, author says
The Bernie Madoff scandal came to light 15 years ago, but lessons from the notorious Ponzi scheme are as fresh as ever, author Jim Campbell said during his fireside chat at Compliance Week’s 2023 National Conference.
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PremiumTech think tank participants tackle TPRM, MDM, off-channel comms at CW2023
With new technology tools come risks that can’t be denied, a think tank comprised of senior compliance professionals discussed at Compliance Week’s 2023 National Conference.
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PremiumCW2023 think tank: Compliance officers grapple with post-pandemic world
Senior-level compliance professionals granted anonymity met to candidly discuss the compliance officer’s role in a post-pandemic environment during a Day 1 think tank at Compliance Week’s 2023 National Conference.
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PremiumIt’s not you, it’s your brain: CW2023 kicks off with neuroscience reality check
Neuroscientists Dr. Sahar Yousef and Lucas Miller kicked off Compliance Week’s 2023 National Conference with a keynote reminding attendees we’re all human and there are habits we think set us up for success that actually work against us.
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ArticleCareer fraud fighter Haluk Ferden Gursel honored for Lifetime Achievement
Haluk Ferden Gursel brought his experience in fraud prevention to the United Nations, World Health Organization, classroom, and more, solidifying himself as an expert on the subject and earning recognition for Lifetime Achievement at the 2023 Excellence in Compliance Awards.
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ArticleAmex GBT navigates tricky 2022 to win Compliance Program of the Year
Going public, sanctions, a key merger. For its navigating a series of competing compliance challenges while maintaining trust with clients and travelers, American Express Global Business Travel was honored as Compliance Program of the Year at the 2023 Excellence in Compliance Awards.
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ResourceSurvey Report: Compliance tech priorities in 2023
Nearly two-thirds of senior compliance executives anticipate third parties to be the most heightened area of risk to their businesses in 2023, according to the results of a new study.
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News BriefHSBC to pay $45M to settle CFTC spoofing, recordkeeping violations
HSBC was fined $45 million by the Commodity Futures Trading Commission over allegations its traders used manipulative and deceptive trading practices. The bank and its subsidiaries were separately fined $30 million by the CFTC for business use of off-channel communications by employees.
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News Brief
SEC risk alert highlights transition efforts from LIBOR
The Division of Examinations at the Securities and Exchange Commission issued a risk alert to aid registered investment advisers and investment companies in their transition efforts away from the London Interbank Offered Rate.
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PremiumESG reporting an opportunity to showcase compliance quality
Hassan Chaudry, director of compliance at Canada-based asset management firm Starlight Investments, shares his take on how companies can derive value from their compliance efforts regarding environmental, social, and governance and anti-bribery and corruption.