All Compliance Week articles in Web Issue – Page 372
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Blog
CHS self-reports FCPA investigation
Farm supplies company CHS disclosed in a Dec. 3 securities filing that it has self-reported to the Department of Justice and Securities and Exchange Commission potential violations of the Foreign Corrupt Practices Act.
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Blog
Report assesses key risks, compliance challenges for banks
The OCC has released its “Semiannual Risk Perspective,” a look at the operational, compliance, and interest rate risks likely to present themselves as top banking concerns. The report also offers risk mitigation strategies.
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Blog
OCC discounts fees it charges banks for supervision
The OCC will reduce assessments on the banks it oversees for 2019. The change—which takes effect with the March 31, 2019, assessment—will reduce its General Assessment Fee Schedule by 10 percent.
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Blog
EY plans succession as global chairman, CEO resigns
EY says it will name a new global chairman and CEO in January to replace Mark Weinberger, who plans to step down July 1, 2019.
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Blog
Big Four split on solutions to industry’s problems
Deloitte and KPMG have gone further than EY and PwC in their comments to the current CMA review of the industry, but it seems unlikely the members of the Big Four won't get on the same page.
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Blog
Former Autonomy execs face fraud charges in HP deal
A federal grand jury has delivered indictments against former Autonomy executives in connection with HP’s failed acquisition of the U.K. technology business.
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Blog
MTS reserves $849M in FCPA case
Russian telecommunications company MTS has set aside 55.8 billion rubles (U.S. $849 million) to resolve a U.S. investigation concerning potential violations of the U.S. Foreign Corrupt Practices Act.
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Blog
Deutsche Bank offers more details on Panama Papers raid
Deutsche Bank has provided more details on a two-day raid, in which German prosecutors searched several Deutsche Bank offices, in connection with the Panama Papers. The case also imparts some important compliance lessons.
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Blog
A look at the Justice Department’s new ‘China Initiative’
The Department of Justice on Nov. 1 announced the creation of a new “China Initiative,” aiming to identify priority Chinese trade theft cases and bring them to an appropriate conclusion quickly and effectively and making the global enforcement landscape all the more challenging for multinational companies.
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Podcast
Baker Hughes’ Jay Martin on regional compliance coverage
Jay Martin, the associate general counsel and chief compliance officer at Baker Hughes, discusses the positive effect regionalized compliance coverage has had at the worldwide company.
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Resource
Keeping compliance on track in a high-tech world
The pace at which technology is driving change in today’s companies is accelerating at a rapid clip, resulting in boosted efficiencies, better collaboration with the business, enhanced compliance, and more.
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Blog
Marriott breach could affect 500,000 customers
A breach of the Marriott hotel chain’s guest reservation database may have compromised the personal information of upwards of 500,000 customers. The reveal follows an unrelated breach that affected members of Dunkin’ Donuts loyalty card program.
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Blog
Amazon pushes back on SEC revenue disclosure comment
The SEC is getting some pushback from Amazon over how it breaks up and reports revenue for its different streams under ASC 606.
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Blog
Bitcoin ‘addresses’ added to sanctions screening
For the first time, the Treasury Department has added digital currency identifiers on its sanctions blacklist. It has also drafted new guidance on how those transactions should be identified and reported.
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Article
Walking the KYC and data protection tightrope
The EU General Data Protection Regulation is stirring the pot for financial institutions in trying to strike a balance between complying with AML laws while ensuring data protection.
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Article
New Fed risk report finds corporate debt concerns, Brexit fallout
On Nov. 28, the Federal Reserve’s Board of Governors released its first-ever Financial Stability Report. Among the risks: increasing levels of corporate leverage and international instability.
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Blog
Fenergo creates CLM solutions app for Salesforce
Client Lifecycle Management (CLM) solutions provider Fenergo announced the creation of an app for financial institutions that deploy Salesforce.
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Blog
Refinitiv, Binance team to address cryptocurrency risk
Financial data provider Refinitiv announced the provision of an automated Know Your Customer (KYC) application to cryptocurrency exchange Binance.
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Article
Former, current KPMG women seek class status in lawsuit
More than 1,100 women who are current and former KPMG professionals are seeking class status for their various allegations of gender discrimination.
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Blog
Senate Dems serve up scathing rebuke of Mulvaney-led CFPB
A new report, released by Democrats on the Senate Banking Committee, details how they think Acting Director Mick Mulvaney “has undermined the Consumer Financial Protection Bureau’s mission to enforce consumer protections.”