All Compliance Week articles in Web Issue – Page 14
-
News Brief
SkyCity Entertainment bracing for nearly $50M in AML penalties
Australian gaming company SkyCity Entertainment Group faces nearly $50 million in penalties for admitted breaches of anti-money laundering and countering financing of terrorism obligations in Australia and New Zealand.
-
Premium
Survey: Social media remains vexing issue for financial firms
A recent survey by surveillance technology firm SteelEye found most financial institutions do not monitor their employees’ use of social media or factor in market risks exacerbated by social media posts.
-
News Brief
Senate report cites VW, BMW, JLR for potential forced labor violations
A U.S. Senate report found three European automakers—Volkswagen, BMW, and Jaguar Land Rover—sold cars in the United States with parts sourced from a supplier suspected of using forced labor from China’s Xinjiang region.
-
News Brief
Colorado passes landmark AI discrimination law
Colorado passed the nation’s first comprehensive artificial intelligence protection law, aimed at curbing discrimination against the public that could result from the technology’s use while still allowing AI entrepreneurship to flourish.
-
News Brief
Flex says no action by OFAC into possible sanctions violations
Flex disclosed in a public filing the Office of Foreign Assets Control is taking no action into potential sanctions violations the global manufacturer voluntarily self-disclosed in 2019.
-
News Brief
DXC Technology says no penalties on self-disclosed Russian sanctions matter
IT services company DXC Technology disclosed it received word from the Office of Foreign Assets Control and Bureau of Industry and Security that it won’t be penalized regarding potential Russian sanctions/export control violations it voluntarily self-disclosed in 2022.
-
Premium
California privacy reg seeking more input on new rules
Businesses will receive additional time to weigh in on proposed regulations by the California Privacy Protection Agency regarding risk assessments, cybersecurity audits, automated decision-making, and data broker registration before they’re potentially finalized later this year.
-
News Brief
ESMA guidelines tackle greenwashing via fund names
The European Securities and Markets Authority published its final report containing guidance for the use of environmental, social, and governance- and sustainability-related terminology in fund names.
-
Premium
Fed governor: Regs should engage with industry on safe DLT use in banking
Federal Reserve Board Governor Michelle Bowman argued banking regulators should move from their current reactive posture on banking innovation to a position that actively encourages new technologies, business models, and ideas to solve age-old problems.
-
News Brief
DOJ orders Cape Cod Hospital to pay $24.4M over false claims
The Department of Justice ordered Cape Cod Hospital to pay nearly $24.4 million to settle alleged False Claims Act violations that it knowingly submitted claims to the government for procedures that failed to comply with Medicare rules.
-
News Brief
Treasury says closing AML regulation loopholes top priority
The Treasury Department’s efforts to eliminate regulation loopholes that help enable money laundering in the U.S. financial system will remain a top priority as part of the agency’s 2024 national illicit finance strategy.
-
Blog
WiTricity promotes GC, legal chief to CEO
Wireless charging technology company WiTricity Corp. announced Joe Benz, general counsel and chief legal officer, was promoted to chief executive officer.
-
Blog
Clarion Capital Partners adds general counsel
Investment manager Clarion Capital Partners announced Jeff Sipos returned to the firm as general counsel and chief administrative officer.
-
Blog
National Bank of Canada announces new risk chief
National Bank of Canada announced Jean-Sébastien Grisé, currently senior vice president and chief credit officer, will be appointed as executive vice president, risk management and chief risk officer.
-
Blog
KfW names chief sustainability officer
Development bank KfW announced Jürgen Kern will be its chief sustainability officer.
-
Blog
Alpha announces general counsel
Mining company Alpha Metallurgical Resources announced the appointment of Mark Manno as executive vice president, general counsel and secretary, effective June 1.
-
Blog
GBank appoints chief risk officer
GBank Financial Holdings announced Scot Levine was appointed executive vice president and chief risk officer of GBank.
-
News Brief
White House unveils AI workplace principles; Senate group roadmaps AI policy
Microsoft and Indeed stepped up to adopt new artificial intelligence principles put forth by President Joe Biden, while leading senators took a step toward crafting AI legislation.
-
News Brief
Supreme Court rules CFPB funding structure constitutional
The Supreme Court rejected a claim that the Consumer Financial Protection Bureau’s funding mechanism is unconstitutional, removing a legal challenge that had the potential to overturn all the agency’s regulations and enforcement actions.
-
News Brief
SEC amends Reg S-P to require data breach notification within 30 days
The Securities and Exchange Commission will require broker-dealers and registered investment advisers to adopt written policies and procedures for handling data breaches of customer data and notify affected customers within 30 days.