All Compliance Week articles in Web Issue – Page 258
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Article
Allscripts promotes compliance chief to general counsel
Healthcare IT provider Allscripts Healthcare Solutions announced in a regulatory filing the promotion of Chief Compliance Counsel Tejal Vakharia to general counsel, effective June 21.
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Article
USC names new general counsel
The University of Southern California announced the appointment of Beong-Soo Kim as senior vice president and general counsel, effective July 1.
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Article
Philip Morris adds general counsel
Cigarette and tobacco giant Philip Morris International announced the appointment of Suzanne Rich Folsom as senior vice president and general counsel, effective July 1. Folsom will lead legal, ethics, and compliance in the role.
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Article
FCA fines Lloyds $80M for mistreating mortgage customers
A group of prominent U.K. banks—Lloyds chief among them—is facing a £64 million (U.S. $80 million) fine for unfair treatment of mortgage customers from 2011-2015.
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Article
Analysis: Let Westpac’s missteps be a cautionary tale
By balking at original allegations, Westpac opened itself to infinitely more harm, writes financial crime expert Martin Woods.
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Article
Best practices for auditing in the current crisis and beyond
A session from a recent MetricStream virtual conference provides lessons for internal audit on what risks to watch out for and how to chart a path forward.
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Article
Merrill Lynch to pay $7.2M to customers overcharged for mutual funds
Merrill Lynch will pay more than $7.2 million in restitution and interest to customers who incurred unnecessary sales charges and paid excess fees in connection with mutual fund transactions, FINRA announced.
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Article
Danske faces criminal complaint over market abuse violations
Denmark’s financial regulator has filed a criminal complaint against Danske Bank for violating market abuse regulations concerning inadequate market monitoring and opposite trades.
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Article
Data broker lawsuit involving ZoomInfo could provide CCPA enforcement insight
As the July 1 enforcement deadline of the California Consumer Privacy Act inches closer, a recently filed lawsuit between two data marketing firms may shed light on the efforts companies must take to comply with the new law.
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Article
FCC seeks record $225M fine for robocall scam
The Federal Communications Commission is seeking a $225 million fine—the largest proposed penalty in its 86-year history—against a health insurance telemarketer for allegedly making approximately one billion illegally spoofed robocalls.
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Article
A country-by-country analysis of anti-corruption efforts in Latin America
CCOs looking to navigate the fluid corruption risk environment in Latin America will want to review a newly released report on how countries are uncovering, punishing, and deterring corruption—particularly now, amid a pandemic.
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Article
Criminal Division head Benczkowski to depart DOJ
Assistant Attorney General Brian Benczkowski, head of the Justice Department’s Criminal Division, will leave the agency, effective July 3.
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Article
Could rethinking facial recognition tech provide guide for police reform?
Facial recognition technology, under assault for alleged biases and misuse by law enforcement, could be facing a moment of reckoning.
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Article
EDPB task force to probe TikTok privacy practices
The European Data Protection Board will establish a task force to acquire a more comprehensive overview of TikTok’s privacy practices and coordinate any potential actions against the company.
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Podcast
Podcast: Tips for mitigating risks in returning to the office
Compliance Week Editor in Chief Dave Lefort and ServiceNow Risk Solutions Executive Brandon Reese share best practices and discuss managing pandemic-related risks as companies safely and slowly bring employees back to the office.
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Resource
White paper: Managing Sanctions Compliance in a Global Economy Part 3
In today’s global economy, opportunities for growth are often accompanied by an increasingly complex landscape of rules, regulations and compliance issues. Since compliance is now a component of everyday business operations, businesses must employ a strategic, holistic program with several key components, including customer risk profiling.
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Article
Report: Average data breach costs public companies $116M
An Audit Analytics report on cyber-security breaches at public companies found the sensitivity of customer information stolen—along with length of time it took companies to report breaches—greatly affected the financial damage the breaches caused.
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Article
Crypto.com appoints chief compliance officer
Crypto.com, a cryptocurrency platform, announced the appointment of Antonio Alvarez as chief compliance officer.
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Article
CFTC awards more than $6M to whistleblower
The Commodity Futures Trading Commission announced a whistleblower award of more than $6 million to a tipster who voluntarily provided original information that led the CFTC to bring a successful enforcement action.
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Article
Analysis: Don’t ignore financial misconduct in ‘plane’ view
Compliance officers must let go of the fear that often accompanies respect for big money (or luxurious aircrafts) and hold the difficult conversations when ferreting out bad actors, writes financial crime expert Martin Woods.