The Securities and Exchange Commission sanctioned four companies this week for poor disclosure of cybersecurity incidents they suffered, the latest reminder from the agency that it expects companies to be more forthcoming with investors about the cyber issues they have. The sanctions were announced Tuesday against four companies, all of which made inadequate or misleading…
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Today let’s return to the compliance debacle at TD Bank. By now you probably know the bank pleaded guilty to running a terrible anti-money laundering compliance program and must pay $3 billion in penalties for its misconduct. Let’s move on to the next question: how will regulators assure that TD Bank improves its compliance program? …
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This week we have a CCO departure from Energizer, new hires at Citibank and lots of other financial firms, numerous promotions across a range of industries, and more personnel gossip. Jobs leads are in higher education, medical devices, and financial services; and Meme of the Week goes out to the Compliance Hall of Shame! Always…
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Defense contractor RTX Corp. will pay more than $950 million to settle multiple criminal cases pending against it, including FCPA and export control violations in the Middle East and government contract fraud here at home. Compliance officers have a few different threads to unravel here, so let’s get to it. The Justice Department announced the…
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The Securities and Exchange Commission served up a rather hum-drum FCPA enforcement action last week. While the case certainly isn’t a show-stopper, it does offer compliance professionals a few insights about corporate corruption; so let’s fulfill our due diligence obligations and study it. The company is Moog Inc., maker of motion controls systems for aerospace,…
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Today we begin a series on the compliance failures at TD Bank, which pleaded guilty last week to charges that its anti-money laundering compliance program totally sucked. The failures here are so astonishing and the lessons so important, a single post can’t do the story justice. Let’s start with a recap of the misconduct itself,…
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The corporate compliance community has a new case-study in program failures courtesy of TD Bank, which will pay more than $3 billion to settle charges that its anti-money laundering compliance program had been a mess for years; and must also live under restrictions on future growth until it completes an overhaul of its AML compliance…
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This week the Compliance Jobs Report has news from Albemarle, Pall Corp., Princeton University, Mazda, McKesson, Toast, and many more. We also have a bundle of promotions to note; two high-level departures from the SEC; and several European job leads in economic development and auto manufacture. Meme of the Week is for the birds! Always…
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Marriott International has reached a settlement with state and federal regulators over repeated privacy breaches the hotel chain suffered in the 2010s, where Marriott will pay $52 million states across the country and implement a raft of cybersecurity improvements under the watchful eye of the Federal Trade Commission. The FTC and state attorneys general announced…
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The Society of Corporate Compliance & Ethics and the Health Care Compliance Association abruptly parted ways with their joint CEO Gerry Zack on Monday, seven years after he arrived and just weeks after a successful SCCE annual conference. SCCE and HCCA, which operate as one organization under supervision of a joint board, announced Zack’s departure…
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