All United States articles – Page 95
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SEC orders Koppers Holdings to pay $1.3M for disclosure failures
Koppers will pay $1.3 million to the Securities and Exchange Commission to settle allegations it failed to disclose material information about its debt in fiscal year 2019.
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SEC joins DOJ in probe of Wells Fargo diversity hiring practices
The news for Wells Fargo related to alleged sham interviews of minority job candidates continues to worsen, with the bank disclosing the Securities and Exchange Commission has joined federal prosecutors in examining the issue.
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KPMG finds large companies ‘on the precipice of a new era’ of ESG reporting
Sustainability reporting has seen steady growth over the past three decades while overall perspectives about environmental, social, and governance reporting have seen dramatic shifts, according to the latest findings of KPMG’s Global Sustainability Report.
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Chegg avoids fine in deal with FTC over cybersecurity lapses
The Federal Trade Commission ordered education technology provider Chegg to fix problems and weaknesses with its cybersecurity program that led to the exposure of personal and financial data of 40 million customers and employees in four data breaches since 2017.
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CFPB outlines rule mandating FIs provide customers their data
The Consumer Financial Protection Bureau initiated rulemaking that would require banks and other financial institutions to make a consumer’s personal financial data available to them upon request.
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Danske Bank projects $2.1B settlement for Estonia money laundering probes
Danske Bank expects to pay a total of 15.5 billion Danish kroner (U.S. $2.1 billion) to U.S. and Danish authorities to settle allegations it overlooked more than $200 billion in dirty money laundered through its former Estonia branch.
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Automation can improve AML compliance but won’t replace human touch
While automation has the potential to transform anti-money laundering compliance, it will not replace the human practitioners relied upon to get investigations to the finish line, experts discussed at the ACAMS annual conference in Las Vegas.
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Victoria’s Secret promotes compliance VP to CECO
Clothing retailer Victoria’s Secret promoted Forrest Deegan to chief ethics and compliance officer.
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BetMGM appoints chief compliance officer
Sports betting and digital gaming entertainment company BetMGM announced Rhea Loney will join its executive team as chief compliance officer.
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First Farmers names chief compliance officer
First Farmers and Merchants Corp., the holding company for First Farmers and Merchants Bank, announced Darcy Wagner has been promoted to chief compliance officer and member of the administration team.
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Honeywell to pay $3.4M for alleged bulletproof vest false claims
Multinational conglomerate Honeywell International agreed to pay $3.35 million to settle allegations it sold defective material for bulletproof vests used by local, state, and tribal police departments.
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New OCC office to supervise fintechs
The Office of the Comptroller of the Currency will heighten its focus on the financial technology space with the creation of a new department in early 2023.
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Bath & Body Works hires chief diversity officer
Retail store chain Bath & Body Works announced the appointment of Kelie Charles as vice president, chief diversity officer.
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SEC passes Dodd-Frank executive pay clawback rule
The Securities and Exchange Commission passed a rule to require public companies to recover incentive-based compensation doled out to current and former executives up to three years before issuing an accounting restatement.
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Google agrees to legal compliance monitor under novel DOJ settlement
Google reached a first-of-its-kind settlement with the Department of Justice requiring the tech giant to hire an outside compliance expert and overhaul its legal compliance process.
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Former JPMorgan compliance exec settles with bank over SOX whistleblower suit
Shaquala Williams, a compliance executive who sued JPMorgan Chase after she said she was fired for blowing the whistle on deficiencies in the bank’s anti-money laundering compliance program, agreed to settle her case.
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ICICI Bank cited by OCC for BSA/AML compliance failures
The Office of the Comptroller of the Currency ordered the New York branch of ICICI Bank to implement sweeping changes to its anti-money laundering and Bank Secrecy Act compliance programs but will not fine the bank if the improvements are completed.
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Cetera affiliates fined $1M each over conflicts of interest
A pair of investment advisers owned by Cetera Financial Group must pay a total of more than $8.6 million as part of a final judgment obtained by the Securities and Exchange Commission alleging the defrauding of Cetera advisory clients.
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Cronos avoids fine in SEC settlement over accounting errors
Canadian cannabis company Cronos Group and its former chief commercial officer each avoided fines in reaching settlements with the Securities and Exchange Commission over alleged accounting fraud.
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Papa John’s diversity chief to depart
Pizza restaurant chain Papa John’s International disclosed the impending departure of Marvin Boakye as its chief people and diversity officer.