All Compliance Week articles in Web Issue – Page 137
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Heidrick & Struggles appoints global managing partner of DEI
Heidrick & Struggles, a business consulting and services firm, announced the appointment of Jonathan McBride as global managing partner of diversity, equity, and inclusion.
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DOJ to emphasize individual accountability, prior misconduct in corporate crime probes
Deputy Attorney General Lisa Monaco announced sweeping changes to the Department of Justice’s efforts to fight corporate crime, including new guidance regarding individual accountability, voluntary self-disclosure, compliance monitors, and ways to strengthen compliance culture.
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Fannie Mae names chief risk officer
The Federal National Mortgage Association announced the appointment of Anthony Moon as executive vice president and chief risk officer.
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HarbourVest Partners appoints chief compliance officer
HarbourVest Partners, a global private markets investment specialist, announced the appointment of Adam Freedman as managing director and chief compliance officer.
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Akorn to pay $7.9M for Medicare false claims
Drug manufacturer Akorn Operating Company agreed to pay $7.9 million in a settlement with the Department of Justice for continuing to sell three drugs through Medicare when they were no longer covered under the program.
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Danske Bank fined $1.8M over AML checks in Ireland
Danske Bank was fined €1.82 million (U.S. $1.82 million) by the Central Bank of Ireland for omitting customers from automated financial crime checks between 2010-19 and failing to notify the regulator.
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Kelly Services adds chief diversity officer
Kelly Services, a recruitment and staffing company, announced the promotion of Vice President of Vertical Lead Keilon Ratliff to chief diversity officer.
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Bramshill Investments promotes compliance director to CCO
Asset management firm Bramshill Investments announced the promotion of Senior Director of Compliance Mona Daruwala to chief compliance officer.
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Loop Capital fined $100K over municipal adviser registration violations
The Securities and Exchange Commission for the first time punished a broker-dealer—Chicago-based Loop Capital Markets—for providing advice to a municipal entity without registering with the agency as a municipal adviser.
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Ex-CEO of environmental consultant imprisoned 3 years for false reports
DiAne Gordon, the former CEO and co-owner of Environmental Compliance & Testing, was sentenced to three years in prison for fabricating water quality reports that were sent to state environmental agencies.
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Prosperity Bank to pay $19K in first PPP lender false claims settlement
Houston-based Prosperity Bank will pay approximately $18,700 to resolve allegations it processed a Paycheck Protection Program loan for an ineligible recipient in what is believed to be a landmark False Claims Act settlement.
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loanDepot appoints chief risk officer
Consumer lending and real estate services provider loanDepot announced the appointment of Joseph Grassi as chief risk officer.
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WillowTree names chief diversity officer
WillowTree, a digital product consultancy service, announced the appointment of Kelli Palmer as chief diversity officer.
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Berkshire Hills Bancorp appoints chief compliance officer
Berkshire Hills Bancorp, the parent company of Berkshire Bank, announced the appointment of Ashlee Flores as executive vice president and chief compliance officer.
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Hay & Watson loses PCAOB registration over altered audit docs
Canadian public accounting firm Hay & Watson had its registration permanently revoked and must jointly pay a fine of $50,000 along with its owner for violating Public Company Accounting Oversight Board rules and standards and failing to cooperate with an inspection.
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PCAOB vet Mark Adler returns to lead enforcement
The Public Company Accounting Oversight Board announced the appointment of Mark Adler as acting director of its Division of Enforcement and Investigations.
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Germany strives for coordination in enhanced AML efforts
Germany has unveiled plans to tackle financial crime more effectively by creating a new federal authority to strengthen enforcement and improve coordination among the country’s current supervisors, of which there are more than 300.
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DOJ gets guilty plea in first crypto insider trading case
Nikhil Wahi, brother of former Coinbase product manager Ishan Wahi, pleaded guilty to one count of wire fraud conspiracy as part of the Department of Justice’s first case regarding the insider trading of cryptocurrency assets.
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BNY Mellon, 2 others settle with SEC in landmark municipal bonds cases
The Securities and Exchange Commission charged four underwriters with failing to satisfy exemption requirements related to limited offerings of municipal bonds—the first time the agency has taken such an action.
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VMware to pay $8M to settle SEC charges over misleading financials
Cloud services provider VMware will pay $8 million to settle allegations from the Securities and Exchange Commission it misled investors by hiding its lagging financial performance.