All United States articles – Page 136
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ArticleBipartisan data privacy bill seeks to break through Congressional logjam
A bipartisan bill attempting to end the gridlock in Congress over crafting a federal data privacy law was introduced by a pair of Republicans and a Democrat.
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ArticleFinCEN launches rulemaking on no-action letter process
The Financial Crimes Enforcement Network launched rulemaking for a no-action letter process, which the agency said might help spur innovation in financial services for anti-money laundering/countering the financing of terrorism and compliance functions.
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ArticleIndictment: Ex-CCO charged with wire fraud over misappropriated funds
Jennifer Campbell, a former chief compliance officer at an unnamed investment adviser in Buffalo, N.Y., faces criminal and civil charges for allegedly misappropriating approximately $500,000 in funds from client accounts.
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ArticleCFTC comment request gauging future action on climate-related risks
The Commodity Futures Trading Commission is seeking public comment on climate-related financial risks that could inform the agency’s future guidance, interpretations, policy statements, and/or rulemaking.
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ArticleTenaris to pay $78M to settle FCPA charges over bribes in Brazil
Tenaris, a global manufacturer of steel pipe products, agreed to pay more than $78 million to the SEC to settle charges it violated the Foreign Corrupt Practices Act by paying more than $10 million in bribes to a Brazilian government official.
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ArticleInvestment advisers fret over SEC’s proposed ESG disclosure rule
Investment advisers and companies worry a recently proposed rule by the SEC that would require enhanced disclosures about funds that claim ESG strategies drive investment choices would have “substantial impact” without providing useful information to investors.
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Ranger Investments appoints chief compliance officer
Ranger Investment Management announced the appointment of Melanie Mendoza as chief compliance officer.
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ArticleReal talk: How Best Buy manages challenges of DEI goals
Two years into its diversity, equity, and inclusion action plan, Best Buy leaders attended Compliance Week’s National Conference to discuss—in a refreshingly blunt manner—the retailer’s learnings.
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ArticleReport: SPACs drive restatement surge in 2021
The total number of restatements and individual companies disclosing restatements in 2021 rose to their highest levels since 2006, according to Audit Analytics’ latest annual review.
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ArticleBanco Popular to pay $255K for violating Venezuela sanctions
Banco Popular de Puerto Rico has agreed to pay more than $255,000 as part of a settlement with the Office of Foreign Assets Control to resolve its civil liability for 337 transactions processed in violation of U.S. sanctions.
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Blackstone Credit appoints chief accounting officer
Blackstone Credit, a privately owned hedge fund and credit investment subsidiary of Blackstone Group, announced the appointment of Abby Miller as chief accounting officer and treasurer.
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ArticleTwitter agrees to $150M settlement with DOJ, FTC over data privacy lapses
Twitter agreed to a $150 million settlement with the Department of Justice and Federal Trade Commission for violating a 2011 administrative order by “misrepresenting” how it used nonpublic user information.
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Compliance halts misconduct in SEC $5M RiverSource action
Minnesota-based broker-dealer RiverSource Distributors agreed to pay $5 million as part of a settlement with the Securities and Exchange Commission for improper switching of variable annuities carried out by certain of its employees.
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ArticleSEC rule proposal would order investment firms to back up ESG claims
The Securities and Exchange Commission proposed a new rule that would require registered investment advisers, investment companies, and business development companies to submit enhanced disclosures about funds that claim ESG strategies drive their investment choices.
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ArticlePCAOB bars former BF Borgers director over repeated audit failures
The Public Company Accounting Oversight Board barred Bo-Shiang Lien, a former audit director and nonequity partner at BF Borgers, for at least two years for violations of PCAOB rules and standards as part of four audits across three public companies.
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ArticleBest practices, common pitfalls in working in high-risk countries
A panel of compliance professionals discussed the increasingly relevant topic of working in high-risk countries, sharing their experiences and lessons learned at Compliance Week’s National Conference in Washington, D.C.
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ArticleGlencore fined $1B, placed under 3-year monitorship for FCPA violations
Glencore International AG, one of the world’s largest commodity traders, will be placed under a three-year compliance monitorship and pay more than $1 billion to resolve multiple investigations into alleged bribes paid in several countries over more than a decade.
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SEC names Best permanent exams division director
The Securities and Exchange Commission named Richard Best permanent director of the agency’s Division of Examinations, removing “acting” from the job title he has held since March.
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ArticleWhat to consider as FASB tackles digital assets
The Financial Accounting Standards Board unanimously decided to add a project to its technical agenda on the accounting and disclosure for certain digital assets, including cryptocurrencies. Experts weigh in on the current landscape and what form the project might take.
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ArticleLessons learned from Olympus compliance monitorship
Christine Gordon, chief compliance officer at Olympus Corporation of the Americas, spoke about her company’s experience working with a DOJ-selected independent monitor at Compliance Week’s National Conference.