India

Regulators in India have adopted exhausting new criteria for the appointment of chief compliance officers in the banking sector there, and banks in that country have six months to confirm that their CCOs fit the profile or find a new one. The Reserve Bank of India (RBI), the country’s central bank and primary banking regulator,…

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fraud

We have another update on fraud risk during the era of Covid-19. The risk is still going up, and compliance and audit executives running anti-fraud programs still have a harder time stopping it.  So says the Association of Certified Fraud Examiners, which published its latest fraud risk survey today. More than 2,000 anti-fraud professionals participated,…

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compliance jobs

The Compliance Jobs Report this week begins with a departure from Softbank, new hires at Vail Resorts, Huntington Ingalls, and other businesses. We have some news from the vendor world, including an acquisition; and three job openings to note. Plus our meme of the week, which today strikes a somber note. As always, thank you…

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Deutsche Bank

Some red meat for all you sanctions compliance nerds: a Deutsche Bank subsidiary has agreed to pay $583,000 for two separate sanctions violations. One involved compliance employees improperly configuring a sanctions screening tool; the other, senior business and compliance managers rushing a transaction without appropriate due diligence.  The Office of Foreign Assets Control announced the…

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We circle back today to postmaster general Louis DeJoy, who stands accused of pressuring employees in the 2010s to make political donations to his preferred Republican candidates. That’s a felony violation of campaign finance laws, and a fascinating glimpse of a compliance risk that can catch companies unprepared. DeJoy, you might recall, is already under…

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report

Compliance professionals involved in corporate training, watch this development: President Trump has ordered federal agencies to review their training programs and cancel any diversity training that contains certain keywords or concepts the White House deems “un-American propaganda.”  The Office of Management & Budget, which acts as the managerial conduit between the White House and the…

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compliance jobs

What better way to begin Labor Day Weekend than reading the Compliance Jobs Report? This week we have news from the SEC, Robinhood, a bunch of healthcare systems, a few universities, some cryptocurrency startups, and more. Job openings to note from California to Switzerland, and our Meme of the Week goes out to return-to-work plans.…

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sox

SOX compliance professionals trying to find your place in the world may want to read the latest survey from the SOX Professionals Group. It’s full of benchmarking statistics about the challenges of Sarbanes-Oxley compliance this year and the technologies compliance teams are eyeing to get the job done.  The report, “2020 State of SOX &…

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herbalife

Herbalife, that multi-level marketing business selling dietary supplements that absolutely totally isn’t a pyramid scheme, has agreed to settle FCPA charges by paying $123 million in disgorgement and penalties and accepting a deferred-prosecution agreement for three years.  Federal prosecutors announced the settlement Friday. It includes a $55 million criminal penalty going to the Justice Department,…

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whistleblower

The Securities and Exchange Commission will vote next week on reforms to its whistleblower rewards program, more than two years after the reforms were first proposed, and which still have the potential to complicate your pursuit of a strong speak-up culture. The vote is scheduled for Wednesday, Sept. 2. In theory compliance professionals will be…

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