All Compliance Week articles in Web Issue – Page 1233
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ArticleFrance sidesteps GDPR in fining Google, Amazon $163M combined
Data privacy watchdog CNIL utilized the French Data Protection Act in fining Google and Amazon a combined €135 million (U.S. $163 million) for illegal cookie practices, sidestepping the “one-stop shop” provision of the GDPR.
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Facebook reserves $366M for expected GDPR fines in Ireland
Facebook Ireland has set aside €302 million (U.S. $366 million) for possible fines from the Irish Data Protection Commission for violations of the General Data Protection Regulation.
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ArticleCongress passes defense bill with big ramifications for AML, whistleblowers
Congress’ defense spending bill approved Friday includes amendments that could dramatically alter the fight against money laundering, in addition to a new BSA whistleblower program with some kinks to be worked out.
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SEC charges Sequential Brands for goodwill impairment failures
The SEC has filed a civil complaint against brand-management company Sequential Brands Group for ignoring “clear, objective evidence of likely goodwill impairment.”
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ArticleU.S. beneficial ownership efforts a welcome sight for global AML community
U.S. Congress’ defense spending bill requiring corporations to identify who owns and controls them is a significant milestone in the global effort to put an end to anonymous shell companies, writes Martin Woods.
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ArticlePCAOB reviews a year like no other, previews what lies ahead in 2021
PCAOB board members remark on changes at the organization amid the coronavirus pandemic, recent audit inspection findings, priorities for 2021, and more.
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ArticleAG William Barr to depart Justice Department on Dec. 23
Attorney General William Barr will leave his post leading the Department of Justice on Dec. 23. Deputy Attorney General Jeffrey Rosen will take Barr’s place on an interim basis.
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ArticleAudit whistleblower receives $300K in rare SEC award
The Securities and Exchange Commission announced the award of $300,000 to a whistleblower with audit-related responsibilities, a rarity for the program.
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ArticleSEC charges CCO over illegal security sales practices
A chief compliance officer is one of three individuals on the receiving end of SEC charges for illegally selling securities in unregistered transactions to retail investors while acting as an unregistered broker.
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ArticleTwitter’s tiny $547K GDPR fine leaves many scratching their heads
Ireland’s first major decision against a Big Tech company under the GDPR has stirred controversy as the country’s data regulator hit Twitter with an underwhelming €450,000 (U.S. $547,000) fine for a 2018 data breach.
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ArticleFASB Chair Jones projects pandemic challenges to persist in 2021
New FASB Chairman Richard Jones said in a recent speech that he believes accounting challenges from the coronavirus pandemic won’t go away soon, with his organization poised to address new issues as they arise.
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FTC data requests could pave way to federal privacy law, experts say
FTC requests issued to nine social media and video streaming services for information about how they collect and use personal information could be a step toward the U.S. government enacting federal privacy legislation.
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ResourceSurvey Report: A blueprint for COVID-19: Getting back to the office
A recent survey from Compliance Week and Skillsoft of 180 compliance, risk, and audit professionals asked the question: “What’s your back-to-office plan, and does it work for you?”
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ArticleWomen in compliance: Be unapologetic about moving up … but send the elevator back down
Over the course of reading two books, Julie DiMauro got some important tips and reminders about taking risks, creating success, and being cognizant of those women following in our career footsteps.
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ArticleThe growing demand for investigation skills in compliance
As the compliance world evolves, the skill sets needed by practitioners are changing. The ability to run investigations effectively is now highly prized, and key skills, such as understanding the use of technology, will be among the most fundamental in the years ahead.
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ArticleBest practices for customized digital compliance training
Today’s volatile market, coupled with the increasing willingness of subject matter experts to collaborate, changes the game in some areas, where “build” starts to make more sense than “buy.” One area is digital compliance training.
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ArticleBarclays fined $34.8M over treatment of cash-strapped customers
The U.K. Financial Conduct Authority fined Barclays Bank and its related units £26 million (U.S. $34.8 million) for poor treatment of consumer credit customers experiencing financial hardship.
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ArticleThird time’s a charm? SEC adopts controversial extraction rules
After two failed iterations, the SEC has approved revamped rules laying out what commercial oil, natural gas, and mineral extraction companies must disclose about payments they make to U.S. and foreign governments.
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ArticlePoll: More companies linking ESG initiatives to executive incentive plans
Current events have significantly accelerated the need for companies around the world to link ESG initiatives to their executive incentive plans, according to a recent poll conducted by Willis Towers Watson.
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ArticleFinTech darling Robinhood fined $65M for misleading customers
Mobile trading app provider Robinhood Financial, which has become a disruptive force in the stock market, has agreed to pay $65 million to the SEC to settle charges of misleading customers about how it makes money and for failing to secure best sale prices.