All Compliance Week articles in Web Issue – Page 95
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Five years of GDPR: Experts forecast changes to come for landmark privacy law
The fifth anniversary of the European Union’s General Data Protection Regulation coming into force has highlighted the many successes of the legislation but also exposed areas where the law is still untested and unclear.
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News Brief
Crown Resorts agrees to pay $292M over AML/CFT violations
Crown Resorts agreed to pay 450 million Australian dollars (U.S. $292 million) and overhaul its anti-money laundering and combating the financing of terrorism compliance controls for repeatedly violating Australia’s AML/CFT law.
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News Brief
Ex-Wells Fargo exec to pay $5M in SEC settlement over fake accounts
Carrie Tolstedt, the former head of Wells Fargo’s community bank, agreed to pay nearly $5 million to settle charges levied by the Securities and Exchange Commission related to the bank’s fake account scandal.
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Avoiding the echo chamber: CCO among ‘crucial’ roles in crisis response
Businesses can be well prepared to manage a crisis by having continuity among stakeholders and avoiding leakage of privileged information to prevent conflict, a panel of legal and compliance experts shared at Compliance Week’s 2023 National Conference.
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News Brief
Former SEC Chair Harvey Pitt dead at 78
Harvey Pitt, the former chairman of the Securities and Exchange Commission and an inaugural Compliance Week columnist, died. He was 78 years old.
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Resource
e-Book: New audit risk landscape: ESG, cyber, more
As companies face sustainability reporting challenges, accounting and audit firms are fielding increased requests for assistance, along with demands from investors and regulatory bodies for assurance on disclosures.
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CW2023: CBP official on early impact of Uyghur forced labor law
Customs agents have flagged thousands of products marked as made in Malaysia, Vietnam, or elsewhere in accordance with the UFLPA, an official from U.S. Customs and Border Protection shared during a panel at Compliance Week’s 2023 National Conference.
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News Brief
Gartner to pay $2.5M to settle alleged FCPA violations in South Africa
Gartner agreed to pay nearly $2.5 million as part of a settlement with the Securities and Exchange Commission addressing alleged violations of the Foreign Corrupt Practices Act in South Africa.
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‘Elephant in the room’: Combating tension between compliance, HR
Regulators are collaborating—both domestically and internationally—more than ever before. And they expect companies to be doing the same, noted panelists during a session on collaboration between compliance and human resources at Compliance Week’s 2023 National Conference.
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Supreme Court once again strikes blow to DOJ’s fraud theories
A pair of unanimous Supreme Court decisions handed down earlier this month are the latest in a string of cases in which it has expressed concerns about government overreach regarding anti-corruption enforcement and wire fraud statutes.
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Record Meta fine brings wider GDPR ramifications for EU-U.S. data transfers
Meta’s latest punishment for breaching the European Union’s General Data Protection Regulation will have far-reaching ramifications for companies both in Europe and beyond.
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News Brief
OCC pledges harder stance on banks that allow weaknesses to fester
The Office of the Comptroller of the Currency could require large banks to take substantial actions to address persistent weaknesses, including restricting their growth or forcing them to divest from risky ventures.
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Ask a CCO: Importance of data analytics, AI over next 5 years
Six senior compliance practitioners forecast the impact advances in data analytics and artificial intelligence will have in their future compliance efforts.
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News Brief
Polite: Voluntary self-disclosure rising since DOJ policy changes
The Department of Justice has seen an uptick in self-reported potential misconduct by corporations since it increased incentives for voluntary disclosure, according to Assistant Attorney General Kenneth Polite Jr.
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Five years in, GDPR still a lightning rod for criticism
The General Data Protection Regulation risks losing credibility if enforcement is not harmonized and privacy by design is not at the heart of tech innovation, said EU officials during a summit marking the fifth anniversary of the legislation.
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News Brief
OneMain Financial fined $4.25M in NYDFS cybersecurity case
Mortgage servicer OneMain Financial Group will pay $4.25 million to settle allegations it left customer information vulnerable to cyberattacks by failing to implement required controls under New York’s cybersecurity law.
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Blog
Cartography Biosciences promotes interim COO to chief legal officer
Cartography Biosciences announced the promotion of interim Chief Operating Officer Blaine Templeman to chief administrative and legal officer.
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Ask a CCO: Pressing pain point in working with data for compliance
Six senior compliance practitioners disclose hurdles their respective departments have faced in utilizing data for compliance purposes.
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News Brief
Surgeon general joins call to enhance children’s online privacy
The U.S. surgeon general issued a “call for urgent action” to policymakers about further limiting social media access for youth, along with enhancing online privacy protections for children.
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News Brief
Gaia fined $2M for subscriber overstatement, whistleblower retaliation
Digital video subscription service Gaia will pay a $2 million fine to the Securities and Exchange Commission for allegedly overstating its paid subscribers and retaliating against an internal whistleblower.