All Compliance Week articles in Web Issue – Page 636
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Blog
Olympus to pay $623.2 million for kickback scheme
Olympus Corporation of the Americas, a wholly-owned subsidiary of Japan-based Olympus, will pay $623.2 million to resolve criminal charges and civil claims relating to a scheme to pay kickbacks to doctors and hospitals—the largest total amount paid in U.S. history for violations involving the Anti-Kickback Statute by a medical device ...
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Article
Healthcare, ransomware, and effective cyber-security hygiene
Imagine this: You’re a large healthcare provider whose staff is having trouble accessing vital records in your hospital’s computer network. Your IT department begins an immediate investigation and determines the cause to be a malware attack. Worse yet, the attackers are demanding ransom to obtain the decryption key. How do ...
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Article
Evolving your identity management program: Six cautionary considerations
For compliance professionals in regulated industries, there’s perhaps no greater challenge than identity management. Call it a program, a best practice or simply a daily struggle to account for all users and all the systems to which they have access—identity management is a beast that is tough to tame.
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Blog
SEC seeks comment on rule requiring naming engagement partners
The SEC is gathering comment on recent PCAOB rules that require audit firms to complete a new filing providing the name of engagement partners on public company audit engagements. PCAOB rules are subject to SEC approval before they can become final, which is why the Commission wants to hear remarks ...
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Article
Q&A: Coping with the speed of change within internal audit
Image: As the world of internal audit is swiftly changing, Doug Anderson, former corporate auditor for Dow Chemical and new managing director for CAE solutions for the Institute of Internal Auditors, speaks to the challenges of helping to drive internal audit to be more forward-looking, how to properly harness the ...
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Blog
The state of “Emperor’s New Clothes” corporate disclosure
Capital markets move on information. And business in general improves in a competitive world when oversight is grounded in meaningful data. That’s why transparency in disclosure is such a good thing. But what we have now is bland compliance, not insightful communication, and it’s pretending that something exists when it’s ...
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Blog
FINRA: establishing and implementing cultural values
The Financial Industry Regulatory Authority issued new guidance on what firms will be expected to discuss regarding their firm’s cultural values. FINRA plans to meet with business, compliance, legal, and risk executives to discuss how to communicate and reinforce values. “We are particularly interested in how your firm measures compliance ...
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Article
How internal audit can help drive corporate culture
Traditional notions of audit are focused on verifying quantified data, but can audit provide that same benefit in the ether space of business, verifying the presence or absence of intangible characteristics? The internal audit profession is starting to believe it is possible, and its leaders are calling on audit executives ...
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Blog
Group slams FINRA over arbitration claims
Nearly one out of three investor awards in arbitration cases overseen by the Financial Industry Regulatory Authority go unpaid claims a new report by the Public Investors Arbitration Bar Association. The group—a not-for-profit association of lawyers representing claimants in securities and commodities arbitration proceedings and litigation—claims that “nearly $1 of ...
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Resource
Follow the Money: New technologies aid in the fight against money laundering and improve bank compliance
Money launderers are always looking for new ways to integrate the proceeds of their crimes into the legitimate financial stream.Criminals are also increasingly laundering money through smaller regional banks, believing that these institutions do not have the millions to invest in the processes and technology needed to effectively resolve entities.To ...
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Blog
FIFA dribbles up the pitch toward reform
As FIFA continues to battle its landmark corruption scandal, it has elected a new President and passed a series of structural and process reforms to bring the organization into the 21st century and demonstrate to U.S. authorities that it really is going to change from its prior culture. But is ...
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Blog
Glass walls and black curtains
The death of Supreme Court Associate Justice Antonin Scalia—and the scuttlebutt surrounding it—underscores the deep level of secrecy that surrounds the Supreme Court and how it operates. Meanwhile, compliance officers know only too well the price to pay for a lack of transparency. Maybe it’s time for the Supreme Court ...
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Blog
HexaTier 4.0 improves database security and compliance in the cloud
HexaTier, a provider of a unified database security and compliance solution for cloud-hosted databases and Database-as-a-Service (DBaaS) platforms, recently announced the launch of HexaTier 4.0. This solution includes new features that focus on enterprise needs for DBaaS adoption, while maintaining organizational policies and addressing the challenges and risks with database ...
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Blog
RiskVision introduces Active State Risk Intelligence solution
RiskVision, an enterprise risk intelligence company formerly known as Agiliance, recently announced the launch Release 8.0 of its RiskVision solution with Active State Risk Intelligence, which provides “always on" assessments, Big Data scale, proactive insights, and regulatory ready results, establishing new benchmarks for risk management effectiveness and efficiency.
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Blog
STOPit launches risk mitigation tool to prevent workplace misconduct
STOPit announces the launch of STOPit PRO, a compliance reporting platform that enables companies to mitigate risk and prevent financial liabilities by empowering employees to anonymously report fraud, unethical behaviors, and product related issues.
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Blog
HPE Investigative Analytics: a new tool to identify and prevent fraud
Hewlett Packard Enterprise recently announced the availability of HPE Investigative Analytics, a new hosted software solution that enables financial institutions and other highly regulated organizations to identify and analyze risk events, and take action to prevent them. To help identify and stop fraudulent and non-compliant behavior, HPE Investigative Analytics leverages ...
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Blog
Stanford Law rolls out ‘Foreign Corrupt Practices Act Clearinghouse’
U.S.-based Stanford Law School announced earlier this month that it has teamed up with law firm Sullivan & Cromwell to launch the new Foreign Corrupt Practices Act Clearinghouse. The FCPA Clearinghouse is a free, public resource that provides a comprehensive, searchable, and very useful database of enforcement actions and information ...
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BlogCiti receives subpoena in FIFA probe
A Citigroup securities filing says the company is under investigation in connection with the bribery, corruption, and money laundering scandal that toppled leadership of the Fédération Internationale de Football Association, the international governing body of professional soccer. As Compliance Week previously reported, financial institutions can expect to be in the ...
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Blog
SEC probing hiring practices of HSBC and many other banks
London-based HSBC said in an earnings release last week that it is one of several banks being investigated by the U.S. Securities and Exchange Commission for its hiring practices in Asia. Hiring a family member or friend of a government official violates the Foreign Corrupt Practices Act if the intent ...
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Blog
NW Natural appoints chief compliance officer
NW Natural, a natural gas service company, has appointed Shawn Filippi as chief compliance officer, in addition to her current role as vice president and corporate secretary.