All Compliance Week articles in Web Issue – Page 101
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Premium
‘Divergence is coming’: Experts cast doubt on EU adopting U.K. GDPR reforms
Despite suggestions the European Union could look to the United Kingdom when considering future changes to the General Data Protection Regulation, legal experts question the impact planned U.K. reforms to the privacy law will have on multinational businesses.
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Resource
e-Book: Best practices for navigating global supply chain laws
Despite legislation aimed at preventing labor and other human rights abuses in supply chains taking force in major countries including the United Kingdom, United States, Germany, and France, many companies are struggling to comply.
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News Brief
SEC bulletin tackles Reg BI care obligation FAQs
Staff at the Securities and Exchange Commission issued a bulletin addressing standards of conduct for broker-dealers and investment advisers in addressing their care obligations under Regulation Best Interest and the Investment Advisers Act.
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Blog
Sendero Wealth Management names general counsel, CCO
Sendero Wealth Management announced the appointment of Julie Gerron as general counsel and chief compliance officer.
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News Brief
DOJ: Disbarred attorney serving as bank CCO charged for fraud role
The Department of Justice announced charges against the “purported” chief compliance officer at Dominion Bank and Trust Company Limited for allegedly taking part in a $4 million fraud scheme.
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News Brief
Barclays recruits chief compliance officer from HSBC
Barclays announced the appointment of Kirsty Everett as chief compliance officer and a member of its group executive committee, effective July 1.
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News Brief
Business orgs fined $84K by DOJ over sanctioned Iran dealings
Taiwan-based DES International Co. and Brunei-based Soltech Industry Co. each agreed to pay fines of $83,769 after pleading guilty to Department of Justice charges of conspiring to violate U.S. export laws and sanctions by sending U.S.-origin goods to Iran.
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News Brief
Seagate fined record $300M over export business with Huawei
Seagate will pay the largest stand-alone administrative penalty in the history of the Commerce Department’s Bureau of Industry and Security for violating export control restrictions against Chinese telecommunications giant Huawei.
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News Brief
FRC investigating EY audits of Made.com, unnamed firm
The U.K. Financial Reporting Council announced the launch of two separate investigations regarding audits performed by Big Four firm EY, including a probe into the 2021 financials of collapsed online furniture retailer Made.com.
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Blog
Pax8 names first chief legal officer
Information technology and cloud services provider Pax8 announced the appointment of Carrie Schiff as its first chief legal officer.
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Blog
FV Bank names chief risk officer, deputy CCO
Puerto Rico-based FV Bank, a blockchain financial technology company, announced the appointment of Luz Mabel del Valle as chief risk officer and deputy chief compliance officer.
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Blog
Starbucks recruits general counsel from Medtronic
Starbucks Coffee Company announced the appointment of Brad Lerman as executive vice president and general counsel.
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News Brief
DOJ fine against GM accompanied by export control law guidance
General Motors agreed to pay $365,000 to settle charges it discriminated against non-U.S. citizens by requiring prospective hires to provide unnecessary documents as part of its export compliance assessment.
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News Brief
Betterment to return $9M to clients in SEC material misstatement case
New York-based investment adviser Betterment agreed to pay $9 million to settle charges levied by the Securities and Exchange Commission over material misstatements and omissions related to its automated tax loss harvesting service.
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News Brief
BIS updates voluntary self-disclosure policy to punish not coming forward
The Commerce Department’s Bureau of Industry and Security updated its guidelines to further clarify the advantages of voluntary self-disclosure to the agency when export control violations are uncovered.
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News Brief
Barclays unit fined $2.5M by FINRA over reporting failures
Barclays Capital was fined $2.5 million as part of a settlement with the Financial Industry Regulatory Authority addressing allegations the investment bank failed to accurately report over-the-counter options positions in more than 4 million instances.
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Premium
Ericsson’s sordid affair with DOJ raises questions on DPAs, transparency
A critical examination of Ericsson’s 2019 deferred prosecution agreement and the Department of Justice’s determination the company breached the agreement raises questions regarding the overall lack of accountability in the corruption scheme.
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News Brief
EU lawmakers float changes to AI Act to account for ChatGPT
The European Union’s draft law to regulate artificial intelligence must be updated to include overarching controls on chatbots like ChatGPT, a group of European Parliament members wrote in an open letter.
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News Brief
Sibley Hospital, Johns Hopkins to pay $5M for improper billing
Sibley Hospital and its parent company, Johns Hopkins Health System, agreed to pay $5 million to settle allegations the hospital billed Medicare for services referred by physicians with whom it had a financial relationship.
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News Brief
FRC probing KPMG audit of Carr’s Group
The U.K. Financial Reporting Council is investigating the work of Big Four firm KPMG during a 2021 audit at agriculture and engineering services provider Carr’s Group.