All Compliance Week articles in Web Issue – Page 218
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Article
SEC issues first-ever whistleblower award pegged to DOJ settlement
For the first time, the SEC has made an award to a whistleblower who provided information that led to a related settlement by another agency—in this case, the Department of Justice.
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Article
Gary Gensler (SEC), Rohit Chopra (CFPB) set for confirmation hearings March 2
President Joe Biden’s nominees to lead two key regulators—Gary Gensler at the SEC and Rohit Chopra (pictured) at the CFPB—will face Senate confirmation hearings early next month.
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Article
BitPay fined $507K for digital currency sanctions violations
The Office of Foreign Assets Control reached a $507,375 settlement with digital currency platform BitPay for lapses in its sanctions compliance procedures that led to 2,102 apparent violations of multiple sanctions programs.
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Article
EDPS opinion puts targeted advertising in crosshairs
The EU’s chief data regulator says planned regulations to oversee the tech sector should be tightened further to ban targeted advertising based on tracking online activity—an opinion that could prompt Big Tech and adtech firms to lobby hard against the changes.
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Kroger joins victims of Accellion data breach
Two months after cloud service vendor Accellion first identified one of its legacy products was targeted by a sophisticated cyber-attack, users of the product continue to feel the impact, with grocery chain Kroger the latest to reveal its exposure.
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OSHA will handle antitrust, AML retaliation claims from whistleblowers
The Occupational Safety and Health Administration will oversee worker retaliation claims for two new categories of whistleblowers—antitrust and anti-money laundering.
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Article
SEC policy reversal puts settlement/waiver pairing back in spotlight
Acting SEC Chair Allison Herren Lee announced the Enforcement Division will no longer recommend to the Commission a settlement offer that is conditioned on granting a waiver, abruptly ending a policy that began under former Chairman Jay Clayton.
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Northern Ireland turns up heat on modern slavery transparency
Northern Ireland Justice Minister Naomi Long has launched two consultation documents on measures to eradicate modern slavery from the supply chains of public- and commercial-sector organizations.
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Standard Insurance Company appoints compliance officer
Standard Insurance Company has promoted Camille Tourje to second vice president, compliance officer.
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BestEx Research Group names chief compliance officer
BestEx Research Group announced the appointment of Richard Chase as chief compliance officer of subsidiary BestEx Research Securities.
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Arcutis Biotherapeutics appoints chief compliance officer
Arcutis Biotherapeutics, a biopharmaceutical company, has appointed Courtney Barton as chief compliance officer and chief of staff. Barton will also serve as chief privacy officer.
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Article
Coinbase names new chief compliance officer
Coinbase, a digital currency exchange, has named Melissa Strait as its new chief compliance officer.
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Article
Done right, outsourcing compliance can be rewarding
Should you consider outsourcing some of your firm’s compliance functions? Perhaps, even, all of them? The answer is complicated and requires a thorough analysis of the risks and rewards.
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DraftKings appoints chief compliance officer
DraftKings has appointed Jennifer Aguiar as its new chief compliance officer. She assumes this role from Tim Dent, who will become senior vice president, regulatory operations before transitioning to a consultant role later this year.
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Article
Cisco Systems investigating ‘self-enrichment scheme’
Technology conglomerate Cisco Systems said in a regulatory filing it is investigating allegations of a “self-enrichment scheme” involving former employees in China and potentially Foreign Corrupt Practices Act violations.
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Article
Ex-SEC Chair Jay Clayton returns to Sullivan & Cromwell
Jay Clayton, former chairman of the Securities and Exchange Commission, will be returning to Sullivan & Cromwell as senior policy advisor and of counsel in the firm’s New York office.
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Article
Facebook fined $8.4M for data collection practices in Italy
Facebook has been fined €7 million (U.S. $8.4 million) by Italy’s antitrust regulator for failing to address issues related to its personal data collection practices.
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Article
SEC sues Morningstar for disclosure violations, internal control failures
The SEC has filed a civil action against Morningstar Credit Ratings alleging the former credit ratings agency violated disclosure and internal controls provisions of the federal securities laws in rating commercial mortgage-backed securities.
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A critical look at pandemic-related executive compensation changes
With 2021 proxy season underway, a new analysis by Compensation Advisory Partners reveals what impact proxy advisory firm Institutional Shareholder Services will have on say-on-pay concerning executive compensation actions made in response to the pandemic.
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Resource
White paper: A Next-Generation Approach to KYC
Although crucial to the success and safety of customer onboarding, implementing and maintaining a successful KYC program can sometimes create an overwhelming administrative burden. Additionally, navigating manual verification methods is costly and prone to inaccuracy, creating greater risk of customer turnover and lost revenue.