All Compliance Week articles in Web Issue – Page 1463
-
News BriefCFPB to monitor compliance at Credit Repair Cloud after alleged illegal fees
Credit Repair Cloud and its chief executive will pay $3 million in combined penalties and put in place significant compliance measures over illegally charging customers, according to the Consumer Financial Protection Bureau.
-
Blog
Customers Bank appoints compliance chief
Customers Bank appointed Allen Love as chief compliance and AML officer.
-
PremiumQ&A: Paxful CCO on ramping up compliance after BSA failures
Manfred Bekeris, chief compliance officer at cypto peer-to-peer network Paxful, sat down with Compliance Week to talk about joining the company shortly before its former chief operating officer and co-founder pled guilty to violating the Bank Secrecy Act.
-
News BriefFed orders Customers Bank to improve AML, sanctions compliance
Pennsylvania-based Customers Bancorp avoided a fine but was ordered to revamp and strengthen its anti-money laundering, sanctions, and Bank Secrecy Act compliance programs after finding “significant deficiencies,” the Federal Reserve Board announced.
-
News BriefIdeanomics, execs to pay $5M over allegedly misleading auditor
Ideanomics, two former execs, and its current chief executive agreed to pay about $5 million and hire an independent compliance professional to settle allegations made by the Securities and Exchange Commission (SEC) that the company misled the public about its performance.
-
PodcastPodcast: BCG managing director on anti-financial crime technology
Staff writer Aaron Nicodemus discussed anti-financial crime technology in banking with Hanjo Seibert, managing director and partner of Boston Consulting Group, during the latest episode of the Compliance Week podcast.
-
News BriefSEC fines OTC Link $1.2M over allegedly failing to file SARs
New York-based broker-dealer OTC Link will pay a $1.2 million fine to settle charges levied by the Securities and Exchange Commission over allegedly failing to implement a system to monitor and report potential suspicious activities on its platforms.
-
PremiumICO proposes $7.8M fine against NHS contractor in warning to IT providers
The U.K. Information Commissioner’s Office proposed a 6.1 million pound (U.S. $7.8 million) fine against Advanced Computer Software Group, an IT contractor for the National Health Service that allegedly failed to secure the data of 83,000 people after a cyberattack.
-
News BriefDOJ orders apparel importer Alexis to pay $7.7M over underpaid customs duties
Women’s apparel importer Alexis agreed to pay nearly $7.7 million to settle allegations, first raised by a whistleblower, that it intentionally underpaid customs duties, according to the Department of Justice.
-
News BriefFCA fines Cyprus trading company $355K for unfair customer treatment
The U.K. Financial Conduct Authority fined a Cyprus-based trading company more than 276,000 pounds (U.S. $354,000) for unfair customer treatment and providing unauthorized investment advice.
-
Blog
Target names legal, compliance chief
Target Corporation announced the appointment of Amy Tu as chief legal and compliance officer and corporate secretary, effective Aug. 25.
-
Blog
BCLP promotes partner to global GC
International law firm BCLP announced the promotion of Laura Giokas as its global general counsel.
-
Blog
Rolls-Royce announces GC for Defense, North America
Rolls-Royce announced the appointment of Kimberly Hicks as general counsel for Defense and Rolls-Royce North America (RRNA).
-
Blog
QBE Insurance announces risk chief for Australia Pacific
QBE Insurance announced the appointment of Ed Rainsford as chief risk officer, Australia Pacific.
-
Blog
Maybank promotes deputy risk chief to head of group risk
Maybank announced the promotion of Deputy Group Chief Risk Officer Mohamed Rezwan Abdullah Ismail to group chief risk officer.
-
Blog
NJIT names general counsel
New Jersey Institute of Technology appointed Sandy Curko as the new general counsel and vice president of legal affairs, effective Oct. 2.
-
Blog
St. Louis Fed promotes GC to COO
The Federal Reserve Bank of St. Louis announced that François Henriquez has been appointed as its first vice president and chief operating officer, effective Aug. 15.
-
Blog
Brown University names GC
Brown University appointed Sandhya Iyer as senior vice president and general counsel.
-
PremiumCompensation survey pegs annual pay at $419K for public company CCOs
Annual pay and bonus compensation for chief compliance officers at public companies jumped to $419,000 since 2023, while CCOs at private companies saw a slight decrease to nearly $300,000, according to a new compensation survey.
-
News BriefLatest off-channel comms sweep nets SEC, CFTC $477M in fines
Two regulators doled out more than $477 million in fines on a new group of broker-dealers, investment advisers, and swaps dealers that failed to maintain and preserve the electronic communications of their employees, bringing total such fines issued since 2021 to $3.2 billion.