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Russian, Ukrainian Cyber Attacks are a Global Threat. Shore Up Your Defenses Now.

Since declaring a “cyber war” on Russian President Vladimir Putin in retaliation for his invasion of Ukraine, the hacktivist collective Anonymous has carried out a series of cyber attacks, and Russia’s formidable disinformation infrastructure is responding in kind. As Jonathan Armstrong and André Bywater of London’s legal- and compliance-focused Cordery warn: The conflict, certainly digital...

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Sanctions Enforcement Is the New FCPA. Are Your Programs Up to Speed?

The unprecedented speed of new economic sanctions against Russia should come as little surprise to those paying attention. But as compliance expert Michael Volkov explains, while more aggressive enforcement actions have been the norm for several years, the presence of new investigations means organizations must double down on their compliance commitments. Hold onto your hats:...

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New Guidance From CFPB and Others Seeks to Tackle Bias in AI Tools in Financial Services

Emerging technologies help companies compete and scale, while providing consumers with speedy access to innovative or safer products. And there’s certainly a role for AI and algorithms in fraud prevention. And yet, regulators are increasingly interested in how emerging technology may — perhaps inadvertently — negatively impact consumers.

Compliance and International Arbitration: Once Separate, Now Inextricably Linked

Compliance and International Arbitration: Once Separate, Now Inextricably Linked

National and international arbitration venues and lower courts are now seeing corruption-related pleas, disclosures and settlement agreements introduced as evidence of corruption or misconduct. This means GRC professionals will need to collaborate with a new set of stakeholders: arbitration litigators. Often studied and practiced separately, the worlds of anti-corruption compliance and international dispute resolution are...

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Q&A: For Effective Financial Crime Prevention, Build a Better Mix of Machines and Humans

To police financial crime, more businesses are incorporating artificial intelligence — machine learning, in particular — into monitoring, prevention and compliance programs. CCI interviewed Leslie Bailey, vice president of financial crime compliance strategy at LexisNexis Risk Solutions, who insists the most effective programs are built on a foundation of advanced analytics driven by humans. Bill...

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Turning Crisis into a Catalyst: What the Pandemic is Teaching Companies and Compliance Teams About Innovation, Agility and Resilience

A strict focus on compliance can stifle creativity and innovation. But a work environment that encourages those traits is key to agility and longevity. The pandemic puts these attributes to the test, spurring business leaders to embrace change and disruption as powerful tools of competitive advantage. Compliance leaders and teams need to consider how they...

Department of Justice

DOJ is Using Existing Antitrust Law in Aggressive and Unconventional Ways. Compliance and the Board Should Take Stock.

Recent aggressive antitrust enforcement activity from the DOJ warrants re-evaluating whether existing corporate compliance programs adequately address organizational and individual antitrust risk. In particular, the DOJ is focusing more acutely on wages, wage fixing, non-compete agreements and related HR issues. These developments will require substantial engagement by the full compliance committee, including the chief legal...

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Unpacking New Sets of Challenges for Compliance Committees: Renewed DOJ Focus on Corporate Crime and Antitrust

The Biden Administration is seeking to monitor and address two issues it considers mission-critical: punishing corporate crime and stimulating market competition. Each of these initiatives is likely to attract committed federal enforcement creating major challenges for the compliance committees of all corporate boards. In this first of a two-part series, attorney Michael Peregrine addresses corporate...

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When Rights Collide: How to Respond — Legally, Ethically and Rationally — to Whistleblower Demands

A whistleblower alleges corrupt treatment by your company and demands payment or else they’re heading for the authorities. You aren’t aware of any wrongdoing and will need to investigate, but regardless, the clock is already ticking. Kevin Griffith, co-chair of the Whistleblowing, Compliance and Investigations Practice Group at Littler, offers a quick response plan.

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Q&A: The SEC Would Love to Regulate Cryptocurrencies, But So Far, Their Efforts Are Hobbled. What’s the Current and Future State for Investment Managers?

President Joe Biden signed an executive order March 9 intended to instill consumer protection and financial stability, prevent illicit uses and in general establish a founding for the development of digital assets. While the action signals the rise of new regulations for cryptocurrencies, the SEC still faces legal headwinds. To gather deeper insight, CCI spoke...

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Are Broker-Dealers Acting in the Best Interests of Their Customers? ‘Not Yet,’ Says FINRA.

During its first-ever review of compliance with Regulation Best Interest (Reg BI), the Financial Industry Regulatory Authority (FINRA) found significant numbers of broker dealers failing to achieve full compliance. By reporting the most common deficiencies, the agency presents a guide to help industry members focus their due diligence. RumbergerKirk partner Pete Tepley walks us through...

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Best Way to Navigate the Climate Disclosures Movement? Listen to the Institutional Investors Driving the Conversation.

Intense focus on the environmental prong of ESG is being driven by a constellation of private actors. Institutional investors, in particular, are making their voices heard through the 2022 proxy season by urging companies to demonstrate meaningful progress on climate and environmental sustainability. And in fact, many companies are already doing so in an effort...

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SEC is Poised to Clear the Air on ESG Reporting. That Means Your Company Has Less Than Six Months to Prepare.

Standardized rule-making on climate disclosures has lagged in the U.S. But no more. Observers like Karen Alonardo of NAVEX Global expect the SEC’s proposed rule to be adopted later this year. Alonardo shares insight into the proposal here, highlighting what companies must do to prepare for heightened disclosure requirements. For years, investors have sought information...

Q&A: Have You or Will You Be Sanctioned? How Will You Know? The Russia-Ukraine Conflict Introduces Remarkable and Continuously Evolving Risks

Q&A: Have You or Will You Be Sanctioned? How Will You Know? The Russia-Ukraine Conflict Introduces Remarkable and Continuously Evolving Risks

Sanctions against Russian oligarchs and key businesses are unprecedented across at least two key dimensions: (1) The scale: Russia is a major economic power, so its financial tentacles are widespread; and (2) The speed: prior sanctions against countries like Iran or Cuba were enacted over months and years; Russian sanctions took hold in a matter...

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Will Proposed SEC Cybersecurity Disclosure Rules Enhance Defenses or Hamper Responses? There’s Still Time to Assess and Comment.

Proposed rules relating to incident reporting aim to improve cybersecurity in public companies, but FTI Consulting’s Jordan Rae Kelly suggests the SEC's well-intentioned requirements could have unintended consequences. The SEC recently voted in favor of a proposal that would require publicly traded companies to report cybersecurity incidents and data breaches within four days, as well...

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In an Era of Heightened Transparency, Boards Must Bolster Compliance

Stakeholder capitalism in the ESG era may drive heightened expectations as well as regulations for reporting, transparency and accountability — plus greater pain for those who fail to achieve needed levels of compliance. BDO’s Amy Rojik suggests boards should take a proactive approach to ESG and similar stakeholder capitalism, ensuring sufficient resources, appropriate controls and...

In Case of Fire, Break Glass: Be Prepared for Recessionary Times Using 12-Step Contingency Plan

In Case of Fire, Break Glass: Be Prepared for Recessionary Times Using 12-Step Contingency Plan

For many industries and companies, 2022 was expected to be a time for recovery and renewal. While the war in Ukraine further stresses an already strained economy, few observers currently envision a recession. Nonetheless, as companies pursue today’s market opportunities, Protiviti’s Jim DeLoach explains how they must also evaluate their contingency plans for dealing with...

Stress Happens. Have You Checked on Your Well-Being?

Stress Happens. Have You Checked on Your Well-Being?

Regular fare for compliance professionals includes threats of regulatory enforcement, loss of resources, businesspeople who are intent on undermining the program, investigations into challenging areas, audits, ongoing remediations and many other situations. Ensuring that we are emotionally well and aligned with our purpose is important in an era of dwindling resources. Just as we conduct...