All Compliance Week articles in Web Issue – Page 82
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News Brief
FinCEN alerts banks to payroll tax, workers’ compensation schemes
The Financial Crimes Enforcement Network issued a notice to financial institutions regarding its observations of increasing payroll tax evasion and workers’ compensation fraud taking place in the U.S. residential and commercial real estate construction industries.
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News Brief
Disney, still without CCO, brings back former exec as deputy CCO
Rafael Ribeiro, Disney’s former assistant general counsel of global ethics and compliance, returned to the media giant in July as associate general counsel and deputy chief compliance officer.
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Blog
Airlines for America recruits FAA director for chief sustainability post
Aviation trade association Airlines for America announced the appointment of Kevin Welsh as vice president of environment and chief sustainability officer.
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Blog
Versapay appoints general counsel
Financial technology company Versapay announced the appointment of Spencer Robinson as general counsel.
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Webcast
CPE Webcast: Five deliverables every cybersecurity team needs to survive, thrive and comply with the new SEC Cybersecurity Rule
In today’s fast-paced business world, firms must adapt to the ever-changing mobile compliance and technology landscape to stay competitive.
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Opinion
Keep ‘your’ in mind while reading ‘Living Your Best Compliance Life’
Author Mary Shirley establishes her ethics and compliance advice book as relatable for all practitioners, junior or senior level. The result is an enjoyable read that offers something for everyone from any E&C background.
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News Brief
UBS to pay $1.4B over financial crisis-era fraud
UBS and several of its U.S. affiliates agreed to pay $1.44 billion as part of a settlement with the Department of Justice regarding the underwriting and issuance of residential mortgage-backed securities in the lead up to the 2008 financial crisis.
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Blog
Comerica Bank chief risk officer to retire
Comerica Bank announced in a public filing Chief Risk Officer Jay Oberg informed the bank he plans to retire, effective Dec. 31, 2024.
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News Brief
SkyCity Entertainment reserves $29M for pending AML/CFT fine
Australian gaming company SkyCity Entertainment Group disclosed it reserved AUS$45 million (U.S. $29 million) for a potential settlement resolving alleged violations of the country’s anti-money laundering and combating the financing of terrorism law.
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News Brief
SEC fines Crowe U.K. $750K over deficient Akazoo audit
The U.K. arm of audit firm Crowe agreed to pay $750,000 as part of a settlement with the Securities and Exchange Commission for alleged professional care and skepticism failures regarding its 2018 audit of music streaming subscription company Akazoo.
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Article
Recent claims cast doubt on legitimacy of behavioral science
Assessing allegations of data manipulation in psychological studies involving a Harvard Business School professor, Paul Eccleson asks whether we can trust research on behavioral science.
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News Brief
PCAOB fines three in latest reporting requirement sweep
The Public Company Accounting Oversight Board continued its crackdown on reporting requirement violations with penalties against three audit firms, including a BDO affiliate.
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News Brief
Bittrex, foreign affiliate to pay $24M over unregistered sale of securities
The Securities and Exchange Commission ordered cryptocurrency trading platform Bittrex and its foreign affiliate Bittrex Global to pay $24 million for running an unregistered national securities exchange, broker, and clearing agency.
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News Brief
Grupo Aval to pay $81M in landmark FCPA case
Colombian conglomerate Grupo Aval agreed to pay nearly $81 million as part of settlements addressing alleged bribes paid by its bank subsidiary Corficolombiana to win a highway construction contract.
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Premium
ABA resolution latest effort to separate lawyers from clients’ crimes
Under increasing pressure from federal lawmakers and regulators, the American Bar Association agreed to strengthen the obligations lawyers must meet when weighing whether to stop representing clients who might be using their services to commit financial crimes.
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News Brief
OFAC doubles down on sanctions against Belarusian regime
The Treasury Department’s Office of Foreign Assets Control announced expanded sanctions against the Belarusian regime three years after the country’s disputed 2020 presidential election.
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News Brief
CCPA first state privacy law deemed adequate by Dubai financial hub
The Dubai International Financial Centre announced the California Consumer Privacy Act passes muster, allowing compliant California businesses to be the first permitted to transfer data with the DIFC without additional contractual measures.
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News Brief
Robinhood discloses New York AG probe into brokerage execution
Online brokerage Robinhood Markets disclosed in a quarterly filing it is under investigation regarding the quality of its brokerage execution.
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News Brief
N.Y. cyber strategy puts pressure on banks, energy sector
New York will closely monitor the cybersecurity protections in place at institutions in the financial and energy sectors as part of its first statewide cybersecurity strategy.
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Blog
Mativ Holdings names general counsel
Manufacturing company Mativ Holdings announced the appointment of Mark Johnson as chief legal officer, general counsel, and secretary.