All United States articles – Page 150
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ArticleBitMEX founders fined $10M each for flouting AML rules
Arthur Hayes and Benjamin Delo, co-founders of cryptocurrency exchange and derivative trading platform BitMEX, were each fined $10 million as part of guilty pleas for anti-money laundering violations under the Bank Secrecy Act.
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ArticleU.S. turns up heat on Russian banking system with new sanctions
The U.S. Department of the Treasury announced expanded sanctions against Russia affecting 80 percent of all banking assets in the country following its further invasion of Ukraine.
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ArticleColonial Pipeline names first chief information security officer
More than nine months after being targeted by a ransomware attack, Colonial Pipeline has named Adam Tice as its first chief information security officer.
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ArticleAudit committees rolling with punches of evolving role
Two prominent audit committee chairs speak to the results of a Deloitte Center for Board Effectiveness and Center for Audit Quality report on audit committee practices and the major issues audit committees face today.
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ArticleWhat sanctions on Russia mean for U.S. companies
The first wave of sanctions imposed on Russia and its financial sector aren’t expected to result in any immediate implications for U.S. companies or their global supply chains. With matters escalating, that could quickly change, according to sanctions experts.
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ArticleBaxter to pay $18M for foreign exchange accounting violations
American multinational healthcare product company Baxter International agreed to pay $18 million as part of a settlement with the Securities and Exchange Commission for accounting violations related to the recording of foreign currency transactions.
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ArticleKT to pay $6.3M in SEC settlement for FCPA violations
KT Corp., South Korea’s largest telecom operator, will pay $6.3 million in a settlement with the Securities and Exchange Commission for violations of the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act.
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DOJ names head of crypto enforcement team
The Department of Justice named veteran prosecutor Eun Young Choi to serve as the first director of its newly created National Cryptocurrency Enforcement Team.
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ArticleComerica discloses CFPB investigation
Financial services firm Comerica disclosed in a regulatory filing the Consumer Financial Protection Bureau is investigating certain of its business practices.
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ArticleRulemaking on CPRA facing delay
The newly formed California Privacy Protection Agency appears behind schedule on rulemaking for the transition to the California Privacy Rights Act, putting the law’s July 2023 enforcement date in question.
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ArticleReport: Accounting enforcement at SEC, PCAOB down in 2021
The amount of accounting and audit enforcement actions by the Securities and Exchange Commission and Public Company Accounting Oversight Board decreased in 2021, resulting in a sharp decline in monetary settlements, according to Cornerstone Research.
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ArticleIndictment: Infinity Q founder’s attempts to hide fraud aided by CCO
The Department of Justice charged James Velissaris, the former chief investment officer and founder of Infinity Q Capital Management, for his role in a scheme to defraud investors by overvaluing derivative swap positions.
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ArticleWhy high-growth companies should prioritize data privacy
A group of experts at CW’s virtual Cyber Risk & Data Privacy Summit explained how complying with data privacy regulations from Day 1 can provide high-growth companies with certain competitive advantages.
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ArticleBest practices to achieve a continuous assurance cybersecurity model
A panel of cybersecurity experts shared tips for achieving continuous assurance and getting necessary buy-in at CW’s virtual Cyber Risk & Data Privacy Summit.
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DOJ Fraud Section 2021 review: FCPA resolutions down
The Department of Justice entered into eight corporate resolutions in all of 2021, a decrease from 13 the previous year, according to the Fraud Section’s annual report. Three resolutions included violations of the Foreign Corrupt Practices Act.
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ArticleBlockFi ruling leaves big crypto question unresolved
The SEC’s determination regarding BlockFi’s crypto lending product is a landmark resolution, yet the ruling does little to settle the larger question still looming: Are cryptocurrencies securities or currencies?
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ArticleSEC, states fine BlockFi $100M; crypto lending product declared a security
BlockFi Lending agreed to pay $100 million in penalties as part of a first-of-its-kind case in which the Securities and Exchange Commission declared a type of cryptocurrency lending product should be registered as a security.
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ArticleFINRA sanctions compliance officer for AML failures
The Financial Industry Regulatory Authority has ordered a compliance officer to pay $25,000 for failing to establish and implement a “reasonably designed” anti-money laundering compliance program at the brokerage firm where he worked.
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ArticleESG reporting: A summary of investor needs and wants
An investor-focused panel at a recent event shared views on investors’ perspectives about current and future use of ESG metrics and disclosures and where common ground can be found between the providers and users of the information.
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ArticleSEC proposal seeks to undo Trump-era whistleblower changes
The Securities and Exchange Commission will seek to undo several changes to the agency’s whistleblower program enacted during the Trump administration to potentially limit large awards.