All Compliance Week articles in Web Issue – Page 643
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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.
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Blog
Surveys, papers provide plenty of advice for internal auditors
Image: In a survey from KPMG and Forbes of more than 400 CFOs and audit committee members nearly 60 percent said they would welcome help in assessing risks and risk-managing practices, but only 22 percent said they get that from internal audit; 36 percent said they would like to see ...
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Blog
Podcast: due diligence in emerging markets
In our latest podcast we discuss due diligence and third party oversight in emerging markets with Kevin Braine, managing director and head of Kroll’s compliance practice in Europe, the Middle East, and Africa. Based in London, Braine is responsible for driving forward the expansion of Kroll’s compliance services throughout the ...
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Podcast
Podcast: due diligence in emerging markets
In our latest podcast we discuss due diligence and third party oversight in emerging markets with Kevin Braine, managing director and head of Kroll’s compliance practice in Europe, the Middle East, and Africa. Based in London, Braine is responsible for driving forward the expansion of Kroll’s compliance services throughout the ...
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Blog
A closer look at the SEC's 'Analysis and Detection Center'
Recent comments by an SEC official about five insider trading cases generated from the Enforcement Division's "Analysis and Detection Center" over the last year generated some questions in the blogosphere. Now Enforcement Action has some answers!
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Blog
Congressional report: SEC, DoL at odds on fiduciary duty rule
Among the most hotly contested rules currently in the regulatory pipeline are efforts to create a fiduciary duty for brokers who offer retirement advice. Rules to do so are currently being crafted by both the Department of Labor and SEC, with the former poised to enact its final rule, the ...
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BlogFASB publishes final lease accounting standard
Image: Marking another milestone in accounting history, the Financial Accounting Standards Board has published its final standard requiring all companies that lease any kind of asset—from real estate to heavy equipment to office copiers—to recognize leased property as an asset they have a right to use and a liability that ...
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Blog
Rep. Garrett 'distressed' by SEC's faith in AP process
At a recent conference, an SEC official defended the agency's use of administrative proceedings and flatly dismissed the notion that the SEC was using APs in order to gain a “home court advantage.” Rep. Scott Garrett didn't like that one bit.
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Blog
U.S., EU will negotiate insurance regulation pact
A bilateral agreement on insurance and reinsurance regulations between the United States and European Union is another step closer to reality. On Tuesday, a statement from the U.S. Treasury Department and the Office of the U.S. Trade Representative announced plans to begin negotiating a covered agreement and regulatory framework with ...
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Blog
Under Single Resolution Mechanism, EU banks get bail-in
The European Union’s Single Resolution Mechanism (SRM), part of a larger post-financial crisis initiative known as the Bank Recovery and Resolution Drive (BRRD), has recently received further implementation. The advancement of SRM means that banks must have recovery plans, but EU-level authorities can intervene if they sense a bank is ...
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Blog
Fighting corruption in the light of day
Image: FIFA isn’t the only major sporting organization with corruption problems. The United States Tennis Association has created a problem for itself by allowing an umpire, who was suspended for corruption, to continue to officiate at the 2015 U.S. Open. Inside, CW’s corruption blogger Tom Fox examines USTA’s reasoning behind ...
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Article
Q&A with Wolters Kluwer’s Barbara Boehler: What is a “culture of compliance,” anyway?
Image: A term of the moment in regulatory circles is “culture of compliance,” a desire for firms to move beyond check-the-box rules and compliance demands by making good behavior part of their corporate zeitgeist. We spoke to Barbara Boehler, a regulatory compliance expert at Wolters Kluwer, about how to define ...
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Blog
COSO ERM update will seek to elevate risk discussions
Image: When COSO unveils the draft update to its Enterprise Risk Management framework (possibly by late April), it will propose companies take risk considerations to the highest level in an entity’s strategy-setting and decision-making processes. The framework update exercise is expected to advance the idea, says COSO Chairman Robert Hirth, ...
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Blog
The compliance program as an internal control
Do compliance programs make a difference? Post-mortem reviews of compliance failures typically raise the question as to whether the cause of the failure is due to a rogue bad actor or a failure in controls. It may be both; a lack of compliance controls allowed or even enabled the rogue ...
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Blog
FinCEN withdraws three findings and proposed rulemakings under PATRIOT Act
The Financial Crimes Enforcement Network this week said it is withdrawing three findings and related proposed rulemakings under Section 311 of the USA PATRIOT Act, after having determined that the subjects of the rulemakings no longer pose a money laundering threat to the U.S. financial system.