Are you over 18 and want to see adult content?
More Annotations
A complete backup of www.t-online.de/sport/live-ticker/fussball/2-bundesliga/id_86063594/didavi-sehenswert-zum-2-0-vfb-stuttgart
Are you over 18 and want to see adult content?
A complete backup of www.storm.mg/article/2271865
Are you over 18 and want to see adult content?
A complete backup of www.chinatimes.com/realtimenews/20200209001549-260403
Are you over 18 and want to see adult content?
A complete backup of www.setn.com/news.aspx?NewsID=686385
Are you over 18 and want to see adult content?
A complete backup of newtalk.tw/news/view/2020-02-08/364093
Are you over 18 and want to see adult content?
Favourite Annotations
A complete backup of https://wateruseitwisely.com
Are you over 18 and want to see adult content?
A complete backup of https://cincymagazine.com
Are you over 18 and want to see adult content?
A complete backup of https://drdobbs.com
Are you over 18 and want to see adult content?
A complete backup of https://virtuele-dataroom.nl
Are you over 18 and want to see adult content?
A complete backup of https://wikimini.org
Are you over 18 and want to see adult content?
A complete backup of https://picochip.com
Are you over 18 and want to see adult content?
A complete backup of https://rosacea.org
Are you over 18 and want to see adult content?
A complete backup of https://malagasala.pl
Are you over 18 and want to see adult content?
A complete backup of https://tweaktownforum.com
Are you over 18 and want to see adult content?
A complete backup of https://tattoodesigns24.com
Are you over 18 and want to see adult content?
A complete backup of https://glastonburyabbey.com
Are you over 18 and want to see adult content?
A complete backup of https://goldentours.com
Are you over 18 and want to see adult content?
Text
her firm.
DIGGING INTO THE STATE STREET SETTLEMENT I haven’t had time to write about this until now, but last week State Street Corp. agreed to pay a $115 million criminal penalty and accept a compliance monitor for two years, to settle charges that the bank deliberately overcharged its clients for years.If you want an example of how invasive compliance monitorships can be, this is a settlement worth reading. SPACS DRAW INTERNAL CONTROL, GOVERNANCE CONCERNS BIDEN PUTS ANTI-CORRUPTION CENTERSTAGE Biden Puts Anti-Corruption Centerstage. President Biden issued a policy memo Thursday vowing to make anti-corruption a pillar of U.S. national security — with numerous potential implications for corporate compliance programs that we can barely begin to understand right now. First, we should be clear about exactly what the presidentdid here.
SURVEY: CORPORATE VALUES DID OK DURING PANDEMIC Survey: Corporate Values Did OK During Pandemic. We have another report this week studying how corporate ethics and compliance functions weathered the pandemic-induced challenges of 2020 — and overall, compliance officers were pretty chuffed about how their organizations held firm to ethical values despite difficultcircumstances.
SAP, PART II: THE GRITTY COMPLIANCE DETAILS SAP, Part II: The Gritty Compliance Details. Today we return to that enforcement action imposed on business software giant SAP, which last week settled charges that it had violated U.S. export control law in the 2010s by offering software patches, upgrades and cloud-based services to users in Iran. Our first post on the case was more asummary
A HAIR-RAISING RANSOMWARE STORY A U.S. city’s systems were infected by Robbinhood with a ransom demand of 13 bitcoins ($76,000). The attackers entered the network through old, out-of-date hardware and software. The ransom was not paid, but service restoration was estimated to cost over $9 million. So we have weak cybersecurity controls, leading to a city’s ITsystems held
NEW SEC ENFORCEMENT CHIEF QUITS New SEC Enforcement Chief Quits. The new director of the SEC Division of Enforcement, Alex Oh, resigned today after less than a week on the job, apparently due because of some dispute related to a class-action lawsuit against Exxon Mobil, one of her clients in private practice. Oh was announced as the new enforcement director on April 22. BILLIONS AND BILLIONS: WELLS FARGO STAGGERING COMPLIANCE COSTS The list goes on from there, one fine after another. One watchdog group calculates that Wells Fargo has paid $8.98 billion in penalties since 2016, and $21.14 billion since 2000. On top of all that are also the internal costs for Wells Fargo’s compliance recovery: new hires for a compliance function, man-hours pulled from other parts of the ARCHIVES - RADICAL COMPLIANCEABOUTBLOGEVENTSPODCASTSRESOURCESRESEARCH About Us 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 PROPOSED: FRAMEWORK FOR CCO LIABILITY The New York City Bar Association has proposed a framework that the Securities & Exchange Commission should follow when deciding whether to charge a chief compliance officer for compliance failures at his orher firm.
DIGGING INTO THE STATE STREET SETTLEMENT I haven’t had time to write about this until now, but last week State Street Corp. agreed to pay a $115 million criminal penalty and accept a compliance monitor for two years, to settle charges that the bank deliberately overcharged its clients for years.If you want an example of how invasive compliance monitorships can be, this is a settlement worth reading. SPACS DRAW INTERNAL CONTROL, GOVERNANCE CONCERNS BIDEN PUTS ANTI-CORRUPTION CENTERSTAGE Biden Puts Anti-Corruption Centerstage. President Biden issued a policy memo Thursday vowing to make anti-corruption a pillar of U.S. national security — with numerous potential implications for corporate compliance programs that we can barely begin to understand right now. First, we should be clear about exactly what the presidentdid here.
SURVEY: CORPORATE VALUES DID OK DURING PANDEMIC Survey: Corporate Values Did OK During Pandemic. We have another report this week studying how corporate ethics and compliance functions weathered the pandemic-induced challenges of 2020 — and overall, compliance officers were pretty chuffed about how their organizations held firm to ethical values despite difficultcircumstances.
SAP, PART II: THE GRITTY COMPLIANCE DETAILS SAP, Part II: The Gritty Compliance Details. Today we return to that enforcement action imposed on business software giant SAP, which last week settled charges that it had violated U.S. export control law in the 2010s by offering software patches, upgrades and cloud-based services to users in Iran. Our first post on the case was more asummary
A HAIR-RAISING RANSOMWARE STORY A U.S. city’s systems were infected by Robbinhood with a ransom demand of 13 bitcoins ($76,000). The attackers entered the network through old, out-of-date hardware and software. The ransom was not paid, but service restoration was estimated to cost over $9 million. So we have weak cybersecurity controls, leading to a city’s ITsystems held
NEW SEC ENFORCEMENT CHIEF QUITS New SEC Enforcement Chief Quits. The new director of the SEC Division of Enforcement, Alex Oh, resigned today after less than a week on the job, apparently due because of some dispute related to a class-action lawsuit against Exxon Mobil, one of her clients in private practice. Oh was announced as the new enforcement director on April 22. BILLIONS AND BILLIONS: WELLS FARGO STAGGERING COMPLIANCE COSTS The list goes on from there, one fine after another. One watchdog group calculates that Wells Fargo has paid $8.98 billion in penalties since 2016, and $21.14 billion since 2000. On top of all that are also the internal costs for Wells Fargo’s compliance recovery: new hires for a compliance function, man-hours pulled from other parts of the FINANCIAL CRIME COMPLIANCE COSTS KEEP GOING UP The costs of financial crime compliance jumped sharply in 2020, as Covid-19 complications caused a host of challenges and forced lots of compliance officers to spend more money on labor, according to a new report from LexisNexis Risk Solutions. FIVE COMPLIANCE EVENTS TO WATCH IN 2021 The Anti-Money Laundering Act. This is one 2021 compliance event that’s already happened: Congress enacted the Anti-Money Laundering Act (AMLA) on Jan. 1, as part of overriding President Trump’s veto of a defense spending bill. Now we spend the next year or so implementing AMLA at a more practical level, and the law will affectcompliance
NOVARTIS SETTLES FCPA CASE FOR $345M Novartis Settles FCPA Case for $345M. Swiss pharmaceutical giant Novartis is paying $345 million to settle civil and criminal FCPA charges for misconduct in Greece, Korea, and Vietnam. As usual, compliance professionals have an abundance of lessons to learn about internal controls, policies and procedures, and effective complianceprograms.
NEW SEC ENFORCEMENT CHIEF QUITS New SEC Enforcement Chief Quits. The new director of the SEC Division of Enforcement, Alex Oh, resigned today after less than a week on the job, apparently due because of some dispute related to a class-action lawsuit against Exxon Mobil, one of her clients in private practice. Oh was announced as the new enforcement director on April 22. COMPLIANCE VS. LEGAL: THE BATTLE CONTINUES Compliance vs. Legal: The Battle Continues. A new survey of nearly 1,000 chief legal officers finds that 74 percent say the compliance function reports into legal — and of the 26 percent who say that isn’t the case, more than one-third of them believe it should be. Those were two big findings from the Association of CorporateCounsel’s
BILLIONS AND BILLIONS: WELLS FARGO STAGGERING COMPLIANCE COSTS The list goes on from there, one fine after another. One watchdog group calculates that Wells Fargo has paid $8.98 billion in penalties since 2016, and $21.14 billion since 2000. On top of all that are also the internal costs for Wells Fargo’s compliance recovery: new hires for a compliance function, man-hours pulled from other parts of the OFAC DINGS BANK $8.5M ON SANCTIONS OFAC Dings Bank $8.5M on Sanctions. We have our first enforcement action of 2021 to review: an $8.5 million fine that the Office of Foreign Assets Control slapped against a French bank for sanctions violations related to Syria, with a detailed list of compliance reforms the bank implemented to avoid harsher penalties. DOJ DINGED ON WHISTLEBLOWER PROTECTION DoJ Dinged on Whistleblower Protection. Radical Compliance is never one to engage in schadenfreude, but for whatever this may be worth: the Justice Department has been dinged by its own inspector general for sloppy whistleblower protection efforts with its third parties. The inspector general, Michael Horowitz, sent a memo to senior Justice CAPITAL ONE WHACKED ON AML FAILURES Capital One Whacked on AML Failures. Talk about mistakes that come back to haunt you: Capital One just agreed to pay a $390 million penalty for anti-money laundering compliance failures in a check-cashing unit the bank hasn’t even owned for seven years. The settlement was announced by FinCEN last Friday. HERTZ, ESTIMATES, AND INTERNAL CONTROLS Hertz, Estimates, and Internal Controls. Who says a government shutdown means no news for internal control and compliance? On New Year’s Eve the Securities and Exchange Commission served up another juicy enforcement action, hitting Hertz Corp. with a $16 million penalty for sloppy accounting practices that led to a financial restatement in 2015. ARCHIVES - RADICAL COMPLIANCEABOUTBLOGEVENTSPODCASTSRESOURCESRESEARCH About Us 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 PROPOSED: FRAMEWORK FOR CCO LIABILITY The New York City Bar Association has proposed a framework that the Securities & Exchange Commission should follow when deciding whether to charge a chief compliance officer for compliance failures at his orher firm.
DIGGING INTO THE STATE STREET SETTLEMENT I haven’t had time to write about this until now, but last week State Street Corp. agreed to pay a $115 million criminal penalty and accept a compliance monitor for two years, to settle charges that the bank deliberately overcharged its clients for years.If you want an example of how invasive compliance monitorships can be, this is a settlement worth reading. SPACS DRAW INTERNAL CONTROL, GOVERNANCE CONCERNS SURVEY: CORPORATE VALUES DID OK DURING PANDEMIC Survey: Corporate Values Did OK During Pandemic. We have another report this week studying how corporate ethics and compliance functions weathered the pandemic-induced challenges of 2020 — and overall, compliance officers were pretty chuffed about how their organizations held firm to ethical values despite difficultcircumstances.
FIVE COMPLIANCE EVENTS TO WATCH IN 2021 The Anti-Money Laundering Act. This is one 2021 compliance event that’s already happened: Congress enacted the Anti-Money Laundering Act (AMLA) on Jan. 1, as part of overriding President Trump’s veto of a defense spending bill. Now we spend the next year or so implementing AMLA at a more practical level, and the law will affectcompliance
SAP, PART II: THE GRITTY COMPLIANCE DETAILS SAP, Part II: The Gritty Compliance Details. Today we return to that enforcement action imposed on business software giant SAP, which last week settled charges that it had violated U.S. export control law in the 2010s by offering software patches, upgrades and cloud-based services to users in Iran. Our first post on the case was more asummary
A HAIR-RAISING RANSOMWARE STORY A U.S. city’s systems were infected by Robbinhood with a ransom demand of 13 bitcoins ($76,000). The attackers entered the network through old, out-of-date hardware and software. The ransom was not paid, but service restoration was estimated to cost over $9 million. So we have weak cybersecurity controls, leading to a city’s ITsystems held
NEW SEC ENFORCEMENT CHIEF QUITS New SEC Enforcement Chief Quits. The new director of the SEC Division of Enforcement, Alex Oh, resigned today after less than a week on the job, apparently due because of some dispute related to a class-action lawsuit against Exxon Mobil, one of her clients in private practice. Oh was announced as the new enforcement director on April 22. BILLIONS AND BILLIONS: WELLS FARGO STAGGERING COMPLIANCE COSTS The list goes on from there, one fine after another. One watchdog group calculates that Wells Fargo has paid $8.98 billion in penalties since 2016, and $21.14 billion since 2000. On top of all that are also the internal costs for Wells Fargo’s compliance recovery: new hires for a compliance function, man-hours pulled from other parts of the ARCHIVES - RADICAL COMPLIANCEABOUTBLOGEVENTSPODCASTSRESOURCESRESEARCH About Us 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 PROPOSED: FRAMEWORK FOR CCO LIABILITY The New York City Bar Association has proposed a framework that the Securities & Exchange Commission should follow when deciding whether to charge a chief compliance officer for compliance failures at his orher firm.
DIGGING INTO THE STATE STREET SETTLEMENT I haven’t had time to write about this until now, but last week State Street Corp. agreed to pay a $115 million criminal penalty and accept a compliance monitor for two years, to settle charges that the bank deliberately overcharged its clients for years.If you want an example of how invasive compliance monitorships can be, this is a settlement worth reading. SPACS DRAW INTERNAL CONTROL, GOVERNANCE CONCERNS SURVEY: CORPORATE VALUES DID OK DURING PANDEMIC Survey: Corporate Values Did OK During Pandemic. We have another report this week studying how corporate ethics and compliance functions weathered the pandemic-induced challenges of 2020 — and overall, compliance officers were pretty chuffed about how their organizations held firm to ethical values despite difficultcircumstances.
FIVE COMPLIANCE EVENTS TO WATCH IN 2021 The Anti-Money Laundering Act. This is one 2021 compliance event that’s already happened: Congress enacted the Anti-Money Laundering Act (AMLA) on Jan. 1, as part of overriding President Trump’s veto of a defense spending bill. Now we spend the next year or so implementing AMLA at a more practical level, and the law will affectcompliance
SAP, PART II: THE GRITTY COMPLIANCE DETAILS SAP, Part II: The Gritty Compliance Details. Today we return to that enforcement action imposed on business software giant SAP, which last week settled charges that it had violated U.S. export control law in the 2010s by offering software patches, upgrades and cloud-based services to users in Iran. Our first post on the case was more asummary
A HAIR-RAISING RANSOMWARE STORY A U.S. city’s systems were infected by Robbinhood with a ransom demand of 13 bitcoins ($76,000). The attackers entered the network through old, out-of-date hardware and software. The ransom was not paid, but service restoration was estimated to cost over $9 million. So we have weak cybersecurity controls, leading to a city’s ITsystems held
NEW SEC ENFORCEMENT CHIEF QUITS New SEC Enforcement Chief Quits. The new director of the SEC Division of Enforcement, Alex Oh, resigned today after less than a week on the job, apparently due because of some dispute related to a class-action lawsuit against Exxon Mobil, one of her clients in private practice. Oh was announced as the new enforcement director on April 22. BILLIONS AND BILLIONS: WELLS FARGO STAGGERING COMPLIANCE COSTS The list goes on from there, one fine after another. One watchdog group calculates that Wells Fargo has paid $8.98 billion in penalties since 2016, and $21.14 billion since 2000. On top of all that are also the internal costs for Wells Fargo’s compliance recovery: new hires for a compliance function, man-hours pulled from other parts of the FTC SERVES MOVIEPASS ITS FINAL SCENE The folks behind MoviePass have agreed to settle charges with the Federal Trade Commission that the business worked to subvert customers’ ability to use the film subscription service and failed to protect personal data, in a messy case that’s quite the example of poor leadership and poor privacy compliance all rolled into one.. For those who may not remember, MoviePass was one of the BILLIONS AND BILLIONS: WELLS FARGO STAGGERING COMPLIANCE COSTS The list goes on from there, one fine after another. One watchdog group calculates that Wells Fargo has paid $8.98 billion in penalties since 2016, and $21.14 billion since 2000. On top of all that are also the internal costs for Wells Fargo’s compliance recovery: new hires for a compliance function, man-hours pulled from other parts of the NEW SEC ENFORCEMENT CHIEF QUITS New SEC Enforcement Chief Quits. The new director of the SEC Division of Enforcement, Alex Oh, resigned today after less than a week on the job, apparently due because of some dispute related to a class-action lawsuit against Exxon Mobil, one of her clients in private practice. Oh was announced as the new enforcement director on April 22. A HAIR-RAISING RANSOMWARE STORY A U.S. city’s systems were infected by Robbinhood with a ransom demand of 13 bitcoins ($76,000). The attackers entered the network through old, out-of-date hardware and software. The ransom was not paid, but service restoration was estimated to cost over $9 million. So we have weak cybersecurity controls, leading to a city’s ITsystems held
NOVARTIS SETTLES FCPA CASE FOR $345M Novartis Settles FCPA Case for $345M. Swiss pharmaceutical giant Novartis is paying $345 million to settle civil and criminal FCPA charges for misconduct in Greece, Korea, and Vietnam. As usual, compliance professionals have an abundance of lessons to learn about internal controls, policies and procedures, and effective complianceprograms.
COMPLIANCE VS. LEGAL: THE BATTLE CONTINUES Compliance vs. Legal: The Battle Continues. A new survey of nearly 1,000 chief legal officers finds that 74 percent say the compliance function reports into legal — and of the 26 percent who say that isn’t the case, more than one-third of them believe it should be. Those were two big findings from the Association of CorporateCounsel’s
MOVIEPASS - RADICAL COMPLIANCE Get the Newsletter! Email Address . Tweets by @compliancememe COMPLIANCE 101: DEFINING A CONTROL It’s a process. It does something. That might be why people hesitate to define a control when Marks asks. Our brains hear “define a control” and instinctively envision a noun — a thing unto itself. In everyday language we say sentences like, “This control isn’t working” or “We need stronger internal controls in our accounting OFAC DINGS BANK $8.5M ON SANCTIONS OFAC Dings Bank $8.5M on Sanctions. We have our first enforcement action of 2021 to review: an $8.5 million fine that the Office of Foreign Assets Control slapped against a French bank for sanctions violations related to Syria, with a detailed list of compliance reforms the bank implemented to avoid harsher penalties. DIAGEO LESSONS ON INTERNAL CONTROL Diageo Lessons on Internal Control. Talk about going on a bender: the SEC just fined spirits maker Diageo $5 million for forcing its distributors to buy more liquor than they needed, and then neglecting to tell investors that Diageo’s inflated sales numbers would eventually dry out. In the world of funny numbers, what Diageo did isknown as
ARCHIVES - RADICAL COMPLIANCEABOUTBLOGEVENTSPODCASTSRESOURCESRESEARCH About Us 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 SPACS DRAW INTERNAL CONTROL, GOVERNANCE CONCERNS SURVEY: CORPORATE VALUES DID OK DURING PANDEMIC Survey: Corporate Values Did OK During Pandemic. We have another report this week studying how corporate ethics and compliance functions weathered the pandemic-induced challenges of 2020 — and overall, compliance officers were pretty chuffed about how their organizations held firm to ethical values despite difficultcircumstances.
FIVE COMPLIANCE EVENTS TO WATCH IN 2021 The Anti-Money Laundering Act. This is one 2021 compliance event that’s already happened: Congress enacted the Anti-Money Laundering Act (AMLA) on Jan. 1, as part of overriding President Trump’s veto of a defense spending bill. Now we spend the next year or so implementing AMLA at a more practical level, and the law will affectcompliance
NEW SEC ENFORCEMENT CHIEF QUITS New SEC Enforcement Chief Quits. The new director of the SEC Division of Enforcement, Alex Oh, resigned today after less than a week on the job, apparently due because of some dispute related to a class-action lawsuit against Exxon Mobil, one of her clients in private practice. Oh was announced as the new enforcement director on April 22. NOVARTIS SETTLES FCPA CASE FOR $345M Novartis Settles FCPA Case for $345M. Swiss pharmaceutical giant Novartis is paying $345 million to settle civil and criminal FCPA charges for misconduct in Greece, Korea, and Vietnam. As usual, compliance professionals have an abundance of lessons to learn about internal controls, policies and procedures, and effective complianceprograms.
A HAIR-RAISING RANSOMWARE STORY A U.S. city’s systems were infected by Robbinhood with a ransom demand of 13 bitcoins ($76,000). The attackers entered the network through old, out-of-date hardware and software. The ransom was not paid, but service restoration was estimated to cost over $9 million. So we have weak cybersecurity controls, leading to a city’s ITsystems held
ICFR, STILL DRIVING COMPANIES NUTS ICFR, Still Driving Companies Nuts. We have yet another report today depicting the tensions companies face when building internal control over financial reporting, including the enduring suspicion that many audit firms raise questions about internal controls simply to look good to the Public Company Accounting Oversight Board. BILLIONS AND BILLIONS: WELLS FARGO STAGGERING COMPLIANCE COSTSWELLS FARGO COMPLIANCE NEWSWELLS FARGO COMPLIANCE ISSUESWELLS FARGO COMPLIANCE JOBWELLS FARGO COMPLIANCE DEPARTMENTWELLS FARGO SUBPOENA COMPLIANCE ADDRESSWELLS FARGO COMPLIANCE OFFICER The list goes on from there, one fine after another. One watchdog group calculates that Wells Fargo has paid $8.98 billion in penalties since 2016, and $21.14 billion since 2000. On top of all that are also the internal costs for Wells Fargo’s compliance recovery: new hires for a compliance function, man-hours pulled from other parts of the MYSTERY IN DEATHS OF FOUR LIBERIAN AUDITORS Fourth Deaths in Two Weeks. Nyeswua’s death is troubling enough, but he is the fourth government auditor to turn up dead in Liberia in two weeks. According to Front Page Africa, two employees of the Liberia Revenue Authority were found dead in a car the week of Oct. 3. One was Gifty Lama, acting manager for tax services; the other was Albert ARCHIVES - RADICAL COMPLIANCEABOUTBLOGEVENTSPODCASTSRESOURCESRESEARCH About Us 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 SPACS DRAW INTERNAL CONTROL, GOVERNANCE CONCERNS SURVEY: CORPORATE VALUES DID OK DURING PANDEMIC Survey: Corporate Values Did OK During Pandemic. We have another report this week studying how corporate ethics and compliance functions weathered the pandemic-induced challenges of 2020 — and overall, compliance officers were pretty chuffed about how their organizations held firm to ethical values despite difficultcircumstances.
FIVE COMPLIANCE EVENTS TO WATCH IN 2021 The Anti-Money Laundering Act. This is one 2021 compliance event that’s already happened: Congress enacted the Anti-Money Laundering Act (AMLA) on Jan. 1, as part of overriding President Trump’s veto of a defense spending bill. Now we spend the next year or so implementing AMLA at a more practical level, and the law will affectcompliance
NEW SEC ENFORCEMENT CHIEF QUITS New SEC Enforcement Chief Quits. The new director of the SEC Division of Enforcement, Alex Oh, resigned today after less than a week on the job, apparently due because of some dispute related to a class-action lawsuit against Exxon Mobil, one of her clients in private practice. Oh was announced as the new enforcement director on April 22. NOVARTIS SETTLES FCPA CASE FOR $345M Novartis Settles FCPA Case for $345M. Swiss pharmaceutical giant Novartis is paying $345 million to settle civil and criminal FCPA charges for misconduct in Greece, Korea, and Vietnam. As usual, compliance professionals have an abundance of lessons to learn about internal controls, policies and procedures, and effective complianceprograms.
A HAIR-RAISING RANSOMWARE STORY A U.S. city’s systems were infected by Robbinhood with a ransom demand of 13 bitcoins ($76,000). The attackers entered the network through old, out-of-date hardware and software. The ransom was not paid, but service restoration was estimated to cost over $9 million. So we have weak cybersecurity controls, leading to a city’s ITsystems held
ICFR, STILL DRIVING COMPANIES NUTS ICFR, Still Driving Companies Nuts. We have yet another report today depicting the tensions companies face when building internal control over financial reporting, including the enduring suspicion that many audit firms raise questions about internal controls simply to look good to the Public Company Accounting Oversight Board. BILLIONS AND BILLIONS: WELLS FARGO STAGGERING COMPLIANCE COSTSWELLS FARGO COMPLIANCE NEWSWELLS FARGO COMPLIANCE ISSUESWELLS FARGO COMPLIANCE JOBWELLS FARGO COMPLIANCE DEPARTMENTWELLS FARGO SUBPOENA COMPLIANCE ADDRESSWELLS FARGO COMPLIANCE OFFICER The list goes on from there, one fine after another. One watchdog group calculates that Wells Fargo has paid $8.98 billion in penalties since 2016, and $21.14 billion since 2000. On top of all that are also the internal costs for Wells Fargo’s compliance recovery: new hires for a compliance function, man-hours pulled from other parts of the MYSTERY IN DEATHS OF FOUR LIBERIAN AUDITORS Fourth Deaths in Two Weeks. Nyeswua’s death is troubling enough, but he is the fourth government auditor to turn up dead in Liberia in two weeks. According to Front Page Africa, two employees of the Liberia Revenue Authority were found dead in a car the week of Oct. 3. One was Gifty Lama, acting manager for tax services; the other was Albert POSTS - RADICAL COMPLIANCE About Us 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 THE PCAOB HOUSE-CLEANING AND YOU First is the matter of Duhnke’s dismissal itself. At best, one could describe his tenure at the PCAOB as tumultuous and controversial. During his time at the agency, enforcement actions against audit firms reached an all-time low. A HAIR-RAISING RANSOMWARE STORY A U.S. city’s systems were infected by Robbinhood with a ransom demand of 13 bitcoins ($76,000). The attackers entered the network through old, out-of-date hardware and software. The ransom was not paid, but service restoration was estimated to cost over $9 million. So we have weak cybersecurity controls, leading to a city’s ITsystems held
SAP, PART II: THE GRITTY COMPLIANCE DETAILS SAP, Part II: The Gritty Compliance Details. Today we return to that enforcement action imposed on business software giant SAP, which last week settled charges that it had violated U.S. export control law in the 2010s by offering software patches, upgrades and cloud-based services to users in Iran. Our first post on the case was more asummary
IIA UNVEILS NEW THREE LINES MODEL IIA Unveils New Three Lines Model. The Institute of Internal Auditors has unveiled a revamped version of its famed Three Lines of Defense model for risk assurance. Perhaps the most notable change: no longer calling it the Three Lines of Defense. Instead, the IIA guide is now officially known as “The Three Lines Model” — a nod to criticism COMPLIANCE VS. LEGAL: THE BATTLE CONTINUES Compliance vs. Legal: The Battle Continues. A new survey of nearly 1,000 chief legal officers finds that 74 percent say the compliance function reports into legal — and of the 26 percent who say that isn’t the case, more than one-third of them believe it should be. Those were two big findings from the Association of CorporateCounsel’s
COMPLIANCE 101: DEFINING A CONTROL It’s a process. It does something. That might be why people hesitate to define a control when Marks asks. Our brains hear “define a control” and instinctively envision a noun — a thing unto itself. In everyday language we say sentences like, “This control isn’t working” or “We need stronger internal controls in our accounting EMPLOYEE POLITICS AND WORKPLACE POLICY The NLRB published an advice memo on Monday about a union in Maryland that represents, among others, government employees in Montgomery County. The union had fired a worker who was also a state representative, and who had testified in favor of police reform legislation there. Since the union represents police officers, one ofits own testifying
CORPORATE ETHICS AND VOTER SUPPRESSION LAWS State legislators in Georgia enacted a voter suppression law on March 25, in response to Democrats winning that state in the November elections and then electing two Democratic U.S. senators in January. The Republicans who pushed the law onto the books claim that it’s intended to “protect election integrity,” which is a lie. FEDS: SEC STAFFER STOLE DATA TO LAND CCO ROLE Cohn worked at the SEC from 2014 to 2018 as a compliance examiner in the Asset Management Unit of the Enforcement Division. According to the indictment against him, Cohn left the SEC on Oct. 12, 2018, and was named chief compliance officer at GPB four days later.. For several weeks prior to his leaving the SEC, however, Cohn accessed confidential SEC files about an investigation intoSkip to content
Twitter __ __ Linkedin __ __Email __ __
__Menu
* About
* Blog
* Events
* Podcasts
* Resources
* Research
* Compliance Memes
* Contact
THE PCAOB HOUSE-CLEANING AND YOUBy Matt Kelly |
June 6, 2021 | 0 Comments I’m all for a thorough spring cleaning, but this is next-level: the Securities and Exchange Commission fired the head of the Public Company Accounting Oversight Board on Friday, and told the remaining three board members that they’ll be gone too as soon as the SEC finds suitable replacements. SEC commissioner Gary Gensler announcedthe news…
Read More
BIDEN PUTS ANTI-CORRUPTION CENTERSTAGEBy Matt Kelly |
June 4, 2021 | 0 Comments President Biden issued a policy memo Thursday vowing to make anti-corruption a pillar of U.S. national security — with numerous potential implications for corporate compliance programs that we can barely begin to understand right now. First, we should be clear about exactly what the president did here. He did not issue an executive order, which…Read More
COMPLIANCE JOBS REPORT: JUNE 4By Matt Kelly |
June 4, 2021 | 0 Comments Another global Compliance Jobs Report this week. We have several personnel moves in the United States (including a bunch of folks leaving corporate roles for vendors and service providers), and many more moves around the world: in Brazil, Britain, France, India, Denmark, and elsewhere. Job leads this week in logistics, entertainment, and fashion. As always,…Read More
PROPOSED: FRAMEWORK FOR CCO LIABILITYBy Matt Kelly |
June 3, 2021 | 0 Comments The New York City Bar Association has proposed a framework that the Securities & Exchange Commission should follow when deciding whether to charge a chief compliance officer for compliance failures at his or her firm. The framework, announced to the world on Wednesday, addresses points such as when a CCO should be charged for“wholesale…
Read More
ABOUT US
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 whoasks.
SEARCH
GET THE FRIDAY NEWSLETTEREmail Address
RECENT POSTS
* The PCAOB House-Cleaning and YouJune 6, 2021
* Biden Puts Anti-Corruption CenterstageJune 4, 2021
* Compliance Jobs Report: June 4June 4, 2021
* Proposed: Framework for CCO LiabilityJune 3, 2021
* Apple Exec Cleared of Bribery ChargeJune 2, 2021
2021 Radical Compliance | Powered by Beaver BuilderDetails
Copyright © 2024 ArchiveBay.com. All rights reserved. Terms of Use | Privacy Policy | DMCA | 2021 | Feedback | Advertising | RSS 2.0