Well this is quite the plot twist: the chief compliance officer and the CEO for Swiss industrial giant ABB will indeed need to certify the effectiveness of ABB’s compliance program as part of the company’s FCPA settlement announced last week. That requirement was included in the company’s deferred-prosecution agreement, which the Justice Department did not…
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Lots of news as usual in the Compliance Jobs Report this week. We have updates from Victoria’s Secret, Wells Fargo, Florida Cancer Specialists, a few biotech firms, and more. A few vendors are rolling out new tools to demonstrate how much they love you; and we have job leads in biotech, broker-dealers, and public education.…
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An administrative law judge has affirmed that three former audit and risk management executives at Wells Fargo should face millions in penalties for their sloppy oversight during the bank’s fake-account scandal in the 2010s. The judge, assigned to the Office of Financial Institution Adjudication, issued his ruling on Wednesday after lengthy proceedings to investigate the…
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The Securities and Exchange Commission has published a review of financial firms’ identity theft programs, in case anyone is looking for helpful hints and tips on how to strengthen your own program. Most of the SEC’s advice, however, boils down to a company sincerely thinking about its risks here. The advice came in the form…
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Swiss industrial giant ABB settled its third FCPA case on Friday, in an enforcement action that generally offers good news for compliance officers but still upends the assumptions we’ve made lately about recidivist offenders and the punishments they’ll face. ABB agreed to pay $460 million in civil and criminal penalties and accepted a three-year deferred…
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The Compliance Jobs Report never stops! This week we have personnel updates at Diebold, PwC, Airbus, T-Mobile, and many more. Also a few workplace anniversaries to note; job leads in pharma, tractors, and subways; and Meme of the Week goes out to tight budgets. As always, thank you to all the compliance people sending me…
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All you compliance professionals who like to hang on every word the Justice Department utters, pull up a chair! One of the department’s senior officials delivered a speech in Washington today that recapped all the messages we’ve heard this year. Nicole Argentieri, acting principal deputy assistant attorney general (the APDAAG? Have the acronyms in our…
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Elon Musk is the gift that keeps on giving, providing one example after another of how an executive can blunder forward without considering — or maybe just ignoring, who really knows — the ethics and compliance implications of his or her decisions. What lesson does the chief twit offer now? Read on. The immediate news…
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Of course we have a Thanksgiving edition of the Compliance Jobs Report! As you digest all that turkey, peruse our updates from TikTok, Twitter, Oxford University Press, Boston Scientific, Superior Energy, and many more. Job leads this week in banking, broadcasting, and medical waste; and lots more news too. As always, thank you to all…
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People keep asking me what lessons the compliance and audit community might learn from the spectacular collapse of cryptocurrency platform FTX Corp. The more I contemplate FTX’s shortcomings, however, the more I believe the answer to that question is simply “all of them.” Just read the bankruptcy petition filed on Nov. 17 by newly named…
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Technically, Radical Compliance is the personal blog of Matt Kelly, long-time writer and observer of the corporate compliance and GRC scene. I was a writer, editor, and publisher at Compliance Week, 2003 through 2015; some of you may know me from my career there. I also speak frequently at compliance conferences and other events, and will pretty much shoot the breeze on any compliance topic with anyone who asks.
