Compliance

Prateek Swaika and Sagar Gupta of Boies Schiller Flexner discuss the regulatory framework of UK’s anti-money laundering regime and explore key legal developments. In response to the Russian military action in Ukraine, the UK government has continued to impose stringent sanctions and strengthened its anti-money laundering regulations aimed at targeting Russian financial and trade sectors, state-owned media and individuals connected...

Financial institutions have enjoyed a fairly easygoing regulatory environment in recent years. Combined with strong economic performance, that’s meant a certain amount of coasting when it comes to enhancing their compliance management systems. But the time for relaxation is over, and as Capco’s Pamela Buckley explains, institutions need to take a hard look at all levels of their compliance programs....

Despite widespread efforts to ban problematic communication apps like WhatsApp and WeChat, only 3% of compliance leaders strongly believe those bans are effective, according to new research from compliance software provider Global Relay. Global Relay’s small survey of 39 global compliance officers, mostly in the financial services industry, found that while 59% had banned WhatsApp and similar apps as a...

A newly issued SEC Division of Examinations risk alert indicates that newly registered advisers may be failing to uphold several of their legally mandated requirements. Nutter’s Mark Tarallo digs into the agency’s alert — and what advisers need to know. For the past several years, the SEC’s Division of Examinations has prioritized examining newly registered advisers within a reasonable period...

About six months from the splashy launch of Open AI’s ChatGPT and despite continued global regulatory concerns about AI’s proliferation, new research indicates that corporations are using the technology across their operations and are likely to keep expanding deployment of AI. A Forbes Advisor survey found that customer service is the most popular current usage for AI, with 56% of...

As early as this month, the Biden Administration is expected to release new guidance regarding compliance under the Title IX educational equality law. Jenelle Beavers of Alvarez & Marsal explores what covered institutions need to know to mitigate risk. Title IX of the Education Amendments of 1972 is the most important federal law dedicated to gender equality in programs offered...

Bolster your culture of integrity 2023 UPDATE Hotline & Incident Management Benchmark Report About this report from NAVEX: An efficient and trusted mechanism by which employees can anonymously or confidentially report allegations of suspected or actual misconduct is the hallmark of a well-designed compliance program. Each year, the NAVEX Hotline & Incident Management Benchmark report delivers a deep analysis of...

Despite its passage nearly four years ago, the EU’s whistleblower directive has yet to be adopted by many European Union member nations. Despite this, many organizations — and their compliance teams — have worked to revise their whistleblower policies or implement fresh ones in accordance with the EU’s guidance. Visslan CEO Daniel Vaknine provides a refresher course on what companies...

Some observers expect tensions between China and Taiwan to result in war by 2025 — or sooner. As we learned with the Russian invasion of Ukraine, the ripple effects of hostilities usually don’t remain geographically limited. Mike Martinich-Sauter of Husch Blackwell has advice for U.S. firms to prepare their compliance teams for a conflict that may be inevitable. In recent...

You’ve got the CEO’s buy-in that your ethics and compliance program is a central part of the company’s culture. That’s great news, but are you using their presence in the right way? Living Your Best Compliance Life columnist Mary Shirley offers her spin on well-worn training activities. For some time now, my team and I have been working on leveling...

(Sponsored) To address regulatory and consumer demand for removal of so-called “forever chemicals,” companies will need to address parts obsolescence. As Assent’s Cally Edgren explains, this is easier said than done, but make no mistake: Avoiding supply chain disruption means acting early. In December 2022, 3M, one of the world’s largest manufacturers, announced it would end the manufacturing and use...

Nearly 70% of individuals working in compliance in the UK are worried about the growing threat of money laundering via cryptocurrencies, according to a survey by anti-money laundering platform First AML. Illicit addresses sent nearly $24 billion worth of cryptocurrency in 2022, according to another study, which speaks to the dangerous connection between crypto and money laundering. In its survey...