All Compliance Week articles in Web Issue – Page 295
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Article
TPRM Summit preview: How to ensure you’re prepared when disaster strikes
In a preview of their upcoming session at Compliance Week’s Third-Party Risk Management & Oversight Summit, two experts share best practices on how to ”Earthquake-Proof Your Organization.”
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Article
BGC Financial to pay $3M for supervisory failures
BGC Financial was accused of various supervision, reporting, and recordkeeping violations that went on for more than five years in a $3 million enforcement action from the CFTC.
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Article
Dannenbaum Engineering overhauls compliance; fined $1.6M for campaign contributions
Dannenbaum Engineering and its parent company have agreed to pay a $1.6 million criminal fine for a scheme involving illegal campaign contributions. While the fine might not be significant, the compliance lessons are.
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Article
Samsung Heavy Industries to pay $75M in foreign bribery case
Samsung Heavy Industries will pay total criminal penalties of $75.5 million to enforcement authorities in the United States and Brazil to resolve violations arising out of a bribery scheme in Brazil.
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Article
Alstom U.K. fined $20.8M for role in long-running bribery case
Alstom Network U.K., the British subsidiary of the French rail and power company, has been ordered to pay a total of £16.4 million (U.S. $20.8 million) for bribes it paid to win a contract to supply trams in Tunisia.
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Article
Corporate Enforcement Policy revisions impact FCPA disclosure
The Department of Justice this month made a few minor adjustments to its Corporate Enforcement Policy that are worth a closer look, as these changes could impact when compliance officers and corporate counsel decide to self-report a potential Foreign Corrupt Practices Act violation.
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Article
At rare open meeting, PCAOB says it’s on path to change
A recent PCAOB open meeting reviewed details about shareholder outreach and offered a view into its five-year strategic plan.
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Article
More companies pointing finger at proxy advisory firms
A new survey from the U.S. Chamber of Commerce and Nasdaq says the number of companies identifying conflicts of interest at proxy advisory firms has almost doubled.
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Resource
e-Book: Special report: Maturing in your compliance technology journey
Our second annual special report on compliance and technology addresses the challenges and opportunities posed by the continuing evolution of the compliance function and the advanced tools that both power it and make it infinitely more complex.
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Article
Westpac accused of 23M violations of Australian AML rules
Australia’s financial crime regulator has accused Westpac Banking of committing over 23 million breaches of the country’s anti-money laundering and counter-terrorism financing rules.
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Article
TrustArc acquires Nymity
TrustArc has announced its acquisition of Nymity, as the two privacy technology providers are combining forces with sights set on the future of technology-driven privacy solutions.
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Article
Hong Kong, Singapore regulators fine UBS $59M for client overcharges
Swiss bank UBS will pay $59 million in total civil penalties in resolutions with both Hong Kong and Swiss regulators for overcharging clients for over a decade.
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Article
SEC awards three whistleblowers $260,000
The SEC has awarded over $260,000 to three individuals who jointly submitted a tip alerting the agency to a well-concealed fraud targeting retail investors that led to a successful enforcement action. The whistleblowers were, themselves, harmed investors.
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Article
U.S. consumers express unease over personal data collection
A recent survey says a majority of Americans don’t trust data privacy policies and procedures, even while U.S. companies are hastening to enhance them in advance of the California Consumer Privacy Act’s implementation.
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Article
SEC appoints chief counsel for the Division of Economic and Risk Analysis
The Securities and Exchange Commission has named Marie-Louise Huth as chief counsel for the Division of Economic and Risk Analysis.
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Article
Survey: Compliance struggles to keep pace with mobile, social tech in workplace
A new survey shows the use of personal devices and contemporary communication platforms are par for the course in work settings; yet 45 percent of firms feel they are incessantly behind the eight-ball when it comes to managing electronic message compliance.
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Article
Microsoft updates cloud contract privacy amid EDPS probe
Microsoft has updated the privacy provisions of its commercial cloud contracts amid a European Data Protection Supervisor investigation that revealed “serious concerns” in its preliminary findings.
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Article
Itiviti, Capital Market Solutions partner on SEC rule
Itiviti announced a partnership with Capital Market Solutions to provide a complete regulatory reporting solution for SEC Rule 613 (Consolidated Audit Trail).
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Article
What FASB’s recent updates might mean for you
The Financial Accounting Standards Board has issued updates to its standards on hedging and share-based payments and is offering guidance on reference rate reform.
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Article
NHTSA probing Tesla for defects that cause battery fires
The National Highway Traffic Safety Administration has launched an investigation into electric-car company Tesla over potential battery defects that allegedly cause its vehicles to suddenly burst into flames.