All Compliance Week articles in Web Issue – Page 115
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Premium
SFO’s Balli Steel win latest to leverage international cooperation
The Serious Fraud Office secured the convictions of two executives at failed British steel trading business Balli Steel on six counts of fraud. Legal experts examine whether “record-breaking” international cooperation in the case served as a crutch for the U.K. regulator.
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Blog
New York Life promotes managing director to chief diversity officer
Mutual fund insurer New York Life announced the promotion of Managing Director Jomil Guerrero to chief diversity officer.
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Blog
American Water Works names chief DEI officer
American Water Works Company announced the appointment of Lori Sutton as chief diversity, equity, and inclusion officer.
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Resource
Survey Report: Top TPRM priorities in 2023
Respondents to a survey from Compliance Week and Dun & Bradstreet overwhelmingly indicated cybersecurity to be the most important compliance-related area affecting third-party risk management in the new year, though fraud and other risks should still be on their radar.
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News Brief
False Claims Act settlements net lower return in FY2022
Penalties assessed for violations of the False Claims Act topped $2.2 billion during fiscal year 2022, less than half the mark the Department of Justice reached the previous year.
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Blog
CVS Health appoints chief DEI officer
CVS Health announced the appointment of Shari Slate as senior vice president and chief diversity, equity, and inclusion officer.
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News Brief
SEC exam report highlights Marketing Rule, Reg BI, private fund advisers
The Securities and Exchange Commission’s 2023 examination priorities report laid out areas under the microscope this year, including compliance with the agency’s Marketing Rule and Regulation Best Interest.
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News Brief
Treasury report flags benefits, drawbacks to use of cloud services
The Treasury Department issued a report regarding the benefits and challenges associated with the use of cloud service providers by financial sector firms, finding shortcomings related to transparency, staff support, and cybersecurity incident response.
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News Brief
Banner Health to pay $1.25M over HIPAA Security Rule lapses
Banner Health agreed to pay $1.25 million as part of a settlement with the Department of Health and Human Services addressing violations of the Health Insurance Portability and Accountability Act Security Rule regarding a 2016 data breach.
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News Brief
Gentex fined $4M for bonus compensation accounting lapses
Gentex Corp. agreed to pay $4 million as part of a settlement with the Securities and Exchange Commission regarding alleged failures in its internal accounting controls that affected executive and employee bonus compensation programs over several years.
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European labor laws showing teeth in crackdown on gig economy
Recent enforcement cases against food delivery company Glovo and online retailer Amazon in Spain have shone a spotlight on the compliance difficulties associated with engaging workers as freelancers rather than full-time employees.
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News Brief
Ex-Coinbase manager pleads guilty in landmark crypto insider trading case
Ishan Wahi, a former Coinbase product manager, pleaded guilty to wire fraud conspiracy in the first cryptocurrency insider trading case.
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News Brief
Lee Enterprises flags ICFR weaknesses following internal review
Lee Enterprises, the media company that owns the St. Louis Post-Dispatch and 76 other newspapers nationwide, concluded its internal controls over financial reporting were not effective for the fiscal year ended Sept. 25, 2022.
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Cybersecurity challenges: Defense and disclosure
Experts share perspectives regarding the criticality of cybersecurity risks, what the response of management and boards should be, and how proposed disclosure requirements need to be incorporated into cyber-related responsibilities.
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Blog
Etsy recruits general counsel from Meta
Online retailer Etsy announced the appointment of Colin Stretch as chief legal officer and corporate secretary.
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Blog
Altus Power adds sustainability to chief legal officer’s role
Solar facilities developer Altus Power announced Chief Legal Officer Sophia Lee will be adding sustainability to her responsibilities.
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Premium
Research project leveraging collaboration to better detect corruption
Integrity Distributed has launched a collaborative research project seeking to develop anti-corruption detection technology that includes academic, technological, and corporate partners.
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News Brief
DOJ withdraws healthcare antitrust policies with safe harbors
The Department of Justice announced the withdrawal of three guidance documents related to mergers and antitrust in healthcare, after labeling the policy statements “outdated” and “overly permissive.”
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News Brief
Acacia Research says probe confirmed ex-CEO’s misconduct
Acacia Research Corp. disclosed the completed findings of its internal investigation into former CEO Clifford Press and whether he misappropriated corporate funds and resources for personal use.
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Blog
Bayer promotes head of litigation to general counsel
Life sciences company Bayer announced the promotion of Vice President and Global Head of Litigation William Dodero to senior vice president and general counsel.