Compliance

OFAC's recent enforcement action against MoneyGram underscores organizations' need for robust screening to ensure AML compliance and prevent sanctions violations. MoneyGram, a global payments service, has settled with OFAC for $34,329 for 359 sanctions programs violations. According to OFAC, the transactions totaled $105,627 in value and were processed on behalf of approximately 40 individuals on OFAC’s Specially Designated Nationals List...

The proposed U.S. Citizenship Act of 2021 includes numerous items that, if passed, would fundamentally shift the landscape of migrant labor. Its features could affect a range of visas, the green card application system and more.

The Fundamental Review of the Trading Book (FRTB) affects capital calculations and substantially impacts one's risk monitoring framework. Richard Moss encourages readers to avoid betting on the long shot. Financial institutions may be facing higher capital requirements based on the Basel Committee on Banking Supervision (BCBS) changes to FRTB. The deadline for implementing the new market-risk FRTB reporting requirements is...

ACA good faith reporting standards sunsets this year. The American Rescue Plan has added further complexities. Make sure you are equipped to comply with these ever-shifting employee health care regulations to avoid unnecessary expenses. When it comes to federal Affordable Care Act (ACA) reporting this year, employers need to understand how the pandemic and a new presidential administration could open...

Most companies aren't including DEI and other workforce data in the human capital disclosure sections of their 10-Ks. A recent Intelligize report analyzes SEC filings following a rule change last November. Though companies say diversity, equity and inclusion (DEI) are top concerns, few included DEI data as part of human capital disclosures on their latest Form 10-Ks. Public companies already...

Organizations of all types – from startups and nonprofits to established businesses – must contend with licensing and registration challenges as they expand. These pros can facilitate the process for you. Sponsored The first line of legal defense for any business is its registered agent. When state agencies, courts and process servers need to contact the business, they will do...

The Biden administration has imposed a number of trade sanctions against Russian organizations and individuals, but the impact of the move remains unclear. The Biden Administration announced new and significant trade sanctions against Russia. The action was long expected, given the Biden Administration’s criticism of Russia, and it was a comprehensive response to Russia’s interference in the 2020 U.S. election,...

Organizations can't just believe they have a strong speak-up culture. They need to know they do. By following these steps, you can quantify the strength of your internal lines of communication. An effective speak-up culture provides organizations the best early warning system and sometimes, when all else fails, a final line of defense against isolated misconduct blossoming into catastrophic legal...

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...