All Compliance Week articles in Web Issue – Page 195
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Article
ICA roundtable: Are companies ready to trust AI?
A recent roundtable on managing resources while confronting regulatory change looked at the importance of balancing machine learning and artificial intelligence with human intelligence and intervention.
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Resource
Survey Report: What factors are driving change in your corporate investigation processes?
The results of a recent survey from Compliance Week and OpenText reveal that while investigations and data volumes are on the rise, machine learning combined with external expertise may give companies the upper hand in accelerating response and results.
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Article
Q&A: How Kaiser Permanente has handled change brought by COVID-19
Vanessa Benavides, chief compliance and privacy officer and senior VP at Kaiser Permanente, shares how the company adjusted its policies and procedures because of COVID-19 and the lessons she learned along the way.
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Article
KPMG fined $18M for ‘integrity and objectivity’ breaches in Silentnight sale
The Financial Reporting Council ordered KPMG to pay a £13 million (U.S. $18 million) fine for “breaches of the principles of integrity and objectivity” in its advisory role regarding the 2011 sale of mattress company Silentnight to U.S. private equity firm HIG Capital.
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Article
Report: Human trafficking undeterred by COVID-19
While many aspects of life over the last year have stagnated because of the pandemic, human trafficking has not slowed down. A new report from the U.S. Department of State explores the latest trends.
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Article
Hong Kong regulator fines UBS $1.5M for compliance failings
Hong Kong’s securities regulator fined Swiss bank UBS and a subsidiary a total of HK$11.55 million (U.S. $1.5 million) for various compliance failures.
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Article
EU guidance seeks to clarify role of AML/CFT compliance officers
The European Banking Authority is seeking comment on new draft guidelines that set clear expectations regarding the appointment, role, tasks, and responsibilities of anti-money laundering and countering the financing of terrorism compliance officers.
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Article
Italian DPA fines Deliveroo $3M for worker privacy violations
Italy’s data protection authority Garante fined U.K.-based food delivery company Deliveroo €2.5 million (U.S. $3 million) under the GDPR for violating the privacy rights of its Italian drivers.
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Article
Acting FinCEN head to step down; new search underway
The Treasury Department has launched a public search for a new permanent director of the Financial Crimes Enforcement Network after the acting head of the agency announced his intentions to step down.
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Article
HF Foods Group appoints chief compliance officer
HF Foods Group, a food distributor to Asian/Chinese restaurants, has appointed Christine Chang as general counsel and chief compliance officer.
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Article
TSG Consumer Partners adds chief compliance officer
Private equity firm TSG Consumer Partners appointed Drew Weilbacher as its new chief compliance officer.
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Article
AIG appoints chief risk officer
Global insurance firm American International Group, Inc. announces the appointment of Sabra Purtill as executive vice president, chief risk officer.
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Article
The importance of transaction monitoring, and the cost of getting it wrong
Transaction monitoring has evolved to the point where the emphasis is now on the requirement firms carry out ongoing monitoring of client relationships. Recent enforcement actions provide lessons on pitfalls to avoid.
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Article
Ironwood Pharmaceuticals names chief legal officer
Gastrointestinal healthcare company Ironwood Pharmaceuticals named John Minardo as senior vice president, chief legal officer.
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Article
SEC to revisit Trump-era whistleblower changes
The Securities and Exchange Commission will review two Trump-era changes to the agency’s whistleblower program, with an eye toward encouraging individuals to report wrongdoing.
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Article
Zoom agrees to enhance compliance in $85M settlement
Zoom has agreed to a preliminary class-action settlement with terms that would require the video-conferencing platform to establish an $85 million fund and improve its data privacy and security practices.
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Article
SEC seeks more risk disclosures from China-based companies
The SEC will require China-based public companies listed on U.S. exchanges to make more disclosures about the financial risks posed by potential interference in their operations by the Chinese government.
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Article
EY fined $10M for independence violations in Sealed Air engagement
EY has agreed to pay $10 million as part of a settlement with the SEC related to charges of auditor independence misconduct perpetrated by several partners of the Big Four firm to secure Sealed Air as a client.
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Article
Allianz bracing for financial hit amid DOJ scrutiny
Insurance giant Allianz disclosed it could face enforcement resulting from Department of Justice and Securities and Exchange Commission probes into its Structured Alpha Funds business.
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Article
Judge dismisses CCPA-related lawsuit against Walmart
A federal judge in California dismissed a lawsuit alleging a data breach at Walmart was a violation of the California Consumer Privacy Act, noting the plaintiff failed to prove a breach occurred.