All United States articles – Page 26
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PremiumTreasury official slams Florida ‘anti-woke’ law for ‘undermining’ BSA compliance
Brian Nelson, Treasury Department under secretary for terrorism and financial intelligence, warned in a letter that Florida’s “anti-woke” banking bill may “materially undermine” financial institutions’ compliance with federal AML/CFT laws and U.S. sanctions.
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News BriefSEC awards $37M to whistleblower who was retaliated against by supervisors
The Securities and Exchange Commission announced its second $37 million whistleblower award in as many weeks with four claimants vying for the payout, but only one reaping the benefits.
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News BriefState Street to pay $7.5M to settle Russia sanctions violations by subsidiary
State Street Bank & Trust Co. will pay a $7.5 million fine to settle allegations by the Treasury Department’s Office of Foreign Assets Control that a subsidiary violated sanctions against Russia.
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News BriefBanking regs issue guidance on risks posed by bank-fintech relationships
Three federal banking regulators issued guidance on the risks posed by the use of third-party financial technology firms to deliver bank deposit products and services to customers.
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News BriefRaytheon parent reserves $1.24B over improper payments, export control violations
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
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News BriefDOJ orders Admera Health to pay $5.5M to settle kickback allegations
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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PremiumWhat’s on tap for CPPA from its deputy director of enforcement
Michael Macko, deputy director of enforcement at the California Privacy Protection Agency, described priorities for the agency now and in the near future during a recent board meeting.
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PremiumCompensation survey finds average annual CCO pay jumped above $400K
A new compensation survey found base pay for chief compliance officers has risen 36 percent since 2021 to an average of more than $403,000.
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News BriefCFPB warns against censoring whistleblowers via broad NDAs
The Consumer Financial Protection Bureau is warning companies against intimidating potential whistleblowers by forcing them to sign broad nondisclosure agreements to deter misconduct from coming to light.
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News BriefDOJ orders Prysmian unit to pay $920K over alleged fabricated tests to military
Prysmian Cables and Systems USA agreed to pay $920,000 to settle allegations it falsified tests and compliance certifications concerning cable it sold to the U.S. military for use in vehicles, the Department of Justice said.
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News BriefOFAC sets Aug. 2 deadline for firms to report Russian sovereign assets
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
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News BriefFTC wants answers from Mastercard, JPMorgan, others on use of AI to collect data
Eight large companies, including Mastercard and JPMorgan Chase, have been ordered by the Federal Trade Commission to provide detailed reports about their possibly secret use of artificial intelligence to track customers and use the information to set prices.
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Blog
Seminole Hard Rock promotes diversity chief
Seminole Hard Rock Support Services announced the promotion of Chief Diversity and Inclusion Officer Stephanie Piimauna to senior vice president of people and inclusion.
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Blog
Kering Americas promotes GC to president
Luxury group Kering Americas announced the promotion of General Counsel Ewa Abrams to president, effective Aug. 1.
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Blog
Gulfstream names chief sustainability officer
Gulfstream Aerospace has appointed Smitha Hariharan as vice president and chief sustainability officer.
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News BriefSEC names interim acting director of exams division
The Securities and Exchange Commission announced that Division of Examinations Deputy Director Keith Cassidy, who was named interim acting co-director a year ago, will serve as interim acting director going forward.
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News BriefFCC signals forthcoming enforcement against AT&T over February outage
The Federal Communications Commission is preparing to take enforcement action against AT&T for a data outage in February that blocked 92 million phone calls.
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News BriefFrench bus part supplier CBM to pay $2.4M to settle DOJ fraud allegations
A French bus parts supplier will pay more than $2.4 million in penalties, disgorgement, and restitution to settle charges that it fraudulently misled its U.S. customers about the source of some of its parts.
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PremiumSurvey tackles aligning cross-generational views of ethics in the workplace
Companies may need to examine employees by age group to find out how likely some workers might be to ditch compliance to complete tasks.
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News BriefBanking regs join FinCEN in proposing AML/CFT risk assessment rule
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.