Another week, another FCPA enforcement action against a Swiss commodities trader — and one that again might leave compliance officers puzzled, since it involves a repeat corporate offender that didn’t self-disclose, yet still managed to walk away without a compliance monitor. The company in question is Trafigura, which last week pleaded guilty to charges that…
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Another big Compliance Jobs Report heading into the Easter Weekend. We have updates from a few universities, a few banks, a few luxury life businesses, and lots of other companies. We also note the passing of an SEC trailblazer; have job leads in phones, medical devices, and grammar; and our Meme of the Week. Always…
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Compliance officers struggle mightily to articulate the right balance between what’s ethical and what’s legal. So when one of the country’s top banking regulators gave a speech earlier this week titled “Fairness and effective compliance management,” it caught my eye. The regulator in question is Michael Hsu, acting head of the Office of the Comptroller…
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Some red meat for all you whistleblower hotline managers! Navex just released its annual benchmarking report on internal reporting, with some fascinating findings about the volume of internal reports, the substantiation rates for internal reports, how often outsiders use your internal hotline, and much more. Navex released the report Tuesday morning, and given the sheer…
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Today we return to artificial intelligence, since these days compliance officers need all the good advice they can get on the subject. The New York City Bar Association recently published a paper on how AI might help with anti-money laundering compliance, and along the way raised several issues about AI that every compliance officer should…
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Another big Compliance Jobs Report this week. We have CCO hires at Norfolk Southern, Kindbody, and Treehouse Foods; and lots of other personnel moves too. A new whistleblower law firm just opened; we have job leads in renewable energy, technology, and chickens; and Meme of the Week goes out to overstretched budgets. Always remember that…
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KPMG has published a new survey of chief compliance officers with plenty of findings that the compliance community should find interesting. The good news is that most CCOs expect budgets and headcounts to rise in the coming year; the bad is that CCOs also expect more pressure for better compliance program performance from numerous directions. …
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US Bank is the latest financial firm sanctioned for employees’ use of off-channel messaging apps, fined $6 million on Tuesday by the Commodities Futures Trading Commission. At this point these cases are hardly news any more, but the US Bank enforcement does have a few twists that warrant a compliance officer’s attention. First, as outlined…
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The Securities and Exchange Commission sanctioned two investment firms Monday for making false statements about how they use artificial intelligence in their business operations — the first enforcement actions we’ve seen under a crackdown on “AI washing” that SEC officials had been promising for several weeks. The two firms are Global Predictions Inc., an investment…
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Internal audit and GRC professionals talk all the time about the importance of automating internal controls. Now we have some fresh academic research demonstrating what sort of benefit a company can gain from following that path. The research comes from Musaib Ashraf, an accounting professor at Michigan State University who published a nifty paper several…
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