All United States articles – Page 79
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PremiumFinCEN crafting rule proposal for AML and sanctions whistleblower program
Andrea Gacki, the new director at the Financial Crimes Enforcement Network, said the agency is working to issue a notice of proposed rulemaking regarding the establishment of an anti-money laundering and sanctions whistleblower program.
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News BriefSEC calls out Advisor Resource Council compliance structure in lawsuit
The Securities and Exchange Commission criticized the structure of the compliance program in place at Texas-based investment adviser Advisor Resource Council as part of a lawsuit against the firm and one of its former representatives.
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PremiumNIST framework might help organizations prepare for AI regulations
The new artificial intelligence framework released by the National Institute of Standards and Technology is not a checklist for AI but might help organizations better manage the risks associated with the technology.
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Blog
ChristianaCare adds chief compliance officer
ChristianaCare, a network of private, nonprofit hospitals, appointed Gregory Ehardt as senior vice president and chief compliance officer.
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Blog
UPMC chief legal officer to retire
The University of Pittsburgh Medical Center’s Executive Vice President and Chief Legal Officer Tom McGough announced his intent to retire at the end of this year.
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Blog
Syracuse University names chief compliance officer
Syracuse University announced the appointment of Christine Stallmann as chief compliance officer.
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Blog
AIG appoints general counsel
Insurance giant American International Group announced the appointment of Patricia Walsh as executive vice president and general counsel.
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News BriefDiscover dodges fine in FDIC order over consumer compliance shortcomings
Discover Financial Services disclosed it avoided a monetary penalty in agreeing to a consent order with the Federal Deposit Insurance Corporation over alleged compliance shortcomings at its subsidiary bank.
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PremiumDeutsche Bank unit ESG fine less about greenwashing, more about disclosures
The $19 million fine against DWS Investment Management Americas levied by the SEC wasn’t to punish greenwashing, experts said, but rather a penalty imposed for the firm not doing what it claimed related to its environmental, social, and governance investment strategy.
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PremiumAuditor independence on regulators’ radars
The Public Company Accounting Oversight Board and Securities and Exchange Commission have emphasized in public statements auditor independence is a critical enforcement area, prompting the need for firms to reacquaint themselves with each agency’s requirements.
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News BriefPCAOB rule update wave begins with confirmation standard
The Public Company Accounting Oversight Board announced the adoption of a new standard regarding auditor use of confirmation that replaces the previous version that hadn’t been notably changed in more than 30 years.
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News BriefMaxim Group fined $800K by SEC over SARs filing lapses
New York-based broker-dealer Maxim Group agreed to pay an $800,000 fine in settling with the Securities and Exchange Commission regarding the firm’s alleged failures to file required suspicious activity reports and properly execute certain short sales.
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News Brief
FTC, Latin American countries partner on fighting cross-border fraud
The Federal Trade Commission is partnering with Chile, Colombia, Mexico, and Peru to fight cross-border fraud, with other consumer protection authorities invited to join in the future.
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News BriefGoldman, JPMorgan, Bank of America caught in CFTC swap reporting sweep
Goldman Sachs, JPMorgan Chase, and Bank of America agreed to pay penalties totaling $53 million across settlements with the Commodity Futures Trading Commission addressing alleged swap reporting failures among their respective affiliates.
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News BriefDOJ orders Cigna to pay $172M over false claims to Medicare
Multinational health insurance company Cigna agreed to pay more than $172 million as part of a settlement with the Department of Justice addressing allegations it submitted and failed to withdraw false claims to Medicare.
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News BriefSEC accuses Prager Metis of hundreds of auditor independence violations
Accounting firm Prager Metis violated auditor independence rules through use of indemnification provisions in its engagement letters hundreds of times during a period of nearly three years, the Securities and Exchange Commission charged in a lawsuit.
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News BriefShinhan Bank America fined $25M for repeat AML compliance failures
The American branch of South Korea-based Shinhan Bank agreed to pay $25 million across settlements with three separate regulators for admitted violations of the Bank Secrecy Act and anti-money laundering requirements.
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News BriefExelon, ComEd fined $46M by SEC over bribery scandal
Exelon and its subsidiary Commonwealth Edison agreed to pay $46.2 million as part of a settlement with the Securities and Exchange Commission related to their Illinois bribery and lobbying scandal that previously earned ComEd a deferred prosecution agreement.
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News BriefD. E. Shaw fined $10M for impeding potential whistleblowers
New York-based investment adviser D. E. Shaw & Co. will pay a $10 million penalty to settle charges brought by the Securities and Exchange Commission that the company raised impediments to whistleblowing by employees.
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News BriefNewell, ex-CEO settle with SEC over sales disclosures
Consumer products company Newell Brands agreed to pay $12.5 million as part of a settlement with the Securities and Exchange Commission addressing allegations the company misled investors about its core sales growth.