All Compliance Week articles in Web Issue – Page 105
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News Brief
Bipartisan bill would empower FDIC to pursue failed bank exec clawbacks
The Failed Bank Executives Clawback Act seeks to require the Federal Deposit Insurance Corporation to claw back five years’ worth of compensation from executives who lead failed banks.
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Premium
‘An unexpected stress test’: European banks weathering storm of U.S. failures
Except for Credit Suisse’s demise, Europe has so far largely patted itself on the back for preventing further contagion in the banking sector following the failures of Silicon Valley Bank, Silvergate Bank, and Signature Bank in the United States.
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News Brief
SEC warns newly registered advisers of overburdening CCOs
Investment advisers newly registering with the SEC have been observed not devoting sufficient resources to their chief compliance officers, sometimes ladling additional responsibilities on the role that take away from time to focus on compliance.
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News Brief
FinCEN mulling beneficial ownership reporting changes amid criticism
The reporting requirements of the beneficial ownership information registry being developed by the Financial Crimes Enforcement Network will likely be revised following harsh criticism from lawmakers and businesses.
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News Brief
William Hill fined record $23.7M for social responsibility, AML failures
The U.K. Gambling Commission announced three units of British bookmaking service William Hill Group will pay a record fine of £19.2 million (U.S. $23.7 million) for failures regarding social responsibility and anti-money laundering.
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News Brief
Vale to pay $55.9M in SEC settlement over dam disclosures
Brazilian mining company Vale agreed to pay $55.9 million to settle Securities and Exchange Commission charges it issued false and misleading statements regarding the safety conditions of its dams.
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Premium
Audit client turnover 2022: Deloitte gains among Big Four, Marcum biggest winner
Deloitte was the only Big Four audit firm to net positive in new public company clients in 2022, while Marcum saw the largest overall gains a year removed from losing 110 clients, according to the latest annual study.
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Blog
Volkswagen names chief sustainability officer
Volkswagen Group announced the appointment of Dirk Voeste as chief sustainability officer. He succeeds Ralf Pfitzner, who plans to pursue new opportunities outside the company.
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News Brief
Iowa privacy bill signed into law; effective 2025
Iowa became the sixth U.S. state to pass comprehensive data protection legislation allowing residents control over how their personal information is accessed and shared.
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Blog
GreenLight Biosciences promotes deputy GC to general counsel, CCO
Biotechnology company GreenLight Biosciences announced the promotion of Deputy General Counsel Nina Thayer to general counsel and chief compliance officer.
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News Brief
‘Textbook case of mismanagement’: Regs point blame at SVB for collapse
Banking regulators defended their supervisory actions and pledged to find answers as to what went wrong when discussing the factors leading to the failures of Silicon Valley Bank and Signature Bank before the Senate Banking Committee.
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Premium
NAVEX: Record whistleblower report totals suggest ‘more cautious workforce’
More whistleblowers than ever before filed reports with their employers in 2022, with more than half doing so anonymously, according to the latest hotline benchmark report from NAVEX.
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Blog
Levi Strauss & Co. promotes deputy GC to general counsel
Clothing company Levi Strauss & Co. announced the promotion of Deputy General Counsel David Jedrzejek to general counsel.
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News Brief
Labcorp to pay $2.1M in third party overbilling case
Laboratory Corporation of America agreed to pay $2.1 million to settle Department of Justice allegations the company overbilled the Department of Defense for genetic tests performed by a third party.
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Blog
DailyPay appoints chief legal, strategy officer
Financial technology company DailyPay announced the appointment of Jared DeMatteis as chief legal and strategy officer.
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Blog
Therapy Brands appoints chief compliance officer
Healthcare technology company Therapy Brands announced the appointment of Amber Thomas as chief compliance officer.
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Blog
Smithfield Foods promotes deputy GC to general counsel
Smithfield Foods announced the promotion of Deputy General Counsel Tennille Checkovich to general counsel.
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Blog
Virginia Tech appoints leaders of audit, risk, compliance
Virginia Tech announced the appointments of Suzanne Griffin as its first chief compliance officer and Sharon Kurek as vice president of audit, risk, and compliance and chief risk officer.
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News Brief
Friedman latest fined in PCAOB crackdown on unregistered auditor use
Friedman agreed to pay a $100,000 penalty to settle charges by the Public Company Accounting Oversight Board it over-relied on the work of unregistered Chinese firms across 12 public company audits.
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News Brief
Ex-Binance CCO accused of aiding and abetting CFTC rule violations
The Commodity Futures Trading Commission charged Binance and its founder with operating an illegal digital assets exchange, while former Chief Compliance Officer Samuel Lim faces charges of aiding and abetting the alleged misconduct.