Compliance

The SEC has already or may yet update its periodic reporting requirements on a number of fronts. Most of these relate to ESG, KPI and non-GAAP disclosures. Meanwhile, COVID-19 continues to require dynamic responses. Public companies have been monitoring and rapidly adapting to a wide array of developments impacting periodic reporting disclosure practices over the last year. Several new SEC...

The Biden administration has signaled numerous cross-border enforcement updates that carry compliance implications, including updated anti-corruption, financial and sanctions measures. President Biden has repeatedly promised to make the fight against corruption in the U.S. and abroad a central part of his administration. He has nominated a Securities and Exchange Commission (SEC) chairman who many expect to increase SEC regulatory and...

What happens when a backlog of COVID-related claims meets a mountain of faulty, false or missing data? Payers don't pay on time -- or at all. Here's how the pandemic is impacting the health care industry's chronic struggle with manual reviews. Most states can levy huge, frequently multimillion-dollar, sanctions on health care payers that do not reimburse provider claims within...

  Everyone has a key role to play in ensuring that the organization stays true to its mission, but compliance officers have a unique responsibility. This resource walks you through the key focus areas in that process: how to adopt a risk-based and federated approach, how to track regulatory engagements while keeping policies in sync with evolving regulations -- all while focusing...

With the sentencing of Tony Hernandez, brother to Honduran President Juan Orlando Hernandez, the Southern District of New York and DOJ continue their work to dismantle a corrupt multinational drug trafficking network. Update: Former Honduran congressman Tony Hernández was sentenced March 30, 2021, to life In prison and ordered to forfeit $138.5 million for distributing 185 tons of cocaine and...

This free 30-page eBook explores graph analytics as an AML tool to uncover money laundering networks and improve financial crime compliance. Despite efforts spent on AML, recent reports from the leaked FinCEN Files shed light on the weaknesses in the global anti-money laundering system that are allowing criminal activity to remain undetected. The AML system seems to be broken. Does...

Historic level of enforcement action during national health emergency continues March 26, 2021 – The Department of Justice announced an update today on criminal and civil enforcement efforts to combat COVID-19 related fraud, including schemes targeting the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL) program and Unemployment Insurance (UI) programs. As of today, the Department of Justice has...

Colleges and universities, like every other type of organization, fall victim to wrongdoing. But unlike many other institutions, boards of trustees often fail to maintain mechanisms that can catch illegal activity before it is too late. Over the past decade, governmental enforcement activity has uncovered systemic compliance failures at colleges and universities across the country. This enforcement activity’s breadth is...

The CTA changes what constitutes beneficial ownership and establishes more robust automated data collection. In addition, it increases responsibilities and incentives for employees to blow the whistle on money-laundering activity. Fox Rothschild's Joshua Ashby and Kimberly Kwan discuss. With the New Year, the U.S. welcomed newly elected president Joe Biden. It is expected that this administration will ramp up enforcement...

We're facing a "Channel Explosion" these days, which means we're challenged to monitor more data streams than ever -- and we must do it in the new era of the hybrid workforce.  Technology can play a critical role here. Here's how an AI-driven solution can enhance financial services compliance while improving company culture. The hybrid workforce is here to stay. ...

Washington D.C. (March 4, 2021) — The Securities and Exchange Commission today announced the creation of a Climate and ESG Task Force in the Division of Enforcement. The task force will be led by Kelly L. Gibson, the Acting Deputy Director of Enforcement, who will oversee a Division-wide effort, with 22 members drawn from the SEC’s headquarters, regional offices, and...

OFAC has brought two enforcement actions against digital currency services providers in as many months – the latest, against BitPay, should spur companies to develop risk-based sanctions compliance programs. Michael Volkov discusses the violations. The Treasury Department’s Office of Foreign Asset Control continues to focus enforcement activities on digital currency companies. This focus is likely to increase given recent comments by...