Compliance

Translating Smart Investments to Improved Governance and Customer Relationships Anti-money laundering regulations (AML), including Know Your Customer (KYC) requirements, are hardly a new concept in the world of financial services. Over the years, financial institutions have largely mastered the mechanics of compliance. There is, however, significant opportunity for improvement, especially when it comes to boosting accuracy, efficiency and productivity. Banks...

Sharie Brown, chair of FCPA and Corporate Compliance at DLA Piper, provides a list of "red flags" companies can instruct their employees to watch out for to manage compliance risk of overseas operations. Red flags are included for the areas of anti-bribery, export controls, anti-money laundering, anti-terrorism, and anti-boycott risks.

Commission Prepares to Implement Self-Reporting Program The Director of the Division of Enforcement at the Commodity Futures Trading Commission (CFTC) noted recently that the Division's role is “to facilitate healthy, robust and resilient markets” to deter misconduct. To that end, the Division plans to implement a cooperation and self-reporting program as a way of getting buy-in from the communities and...

Trouble Remains for Uber and Others As Uber faces being banned from operating in London mainly due to compliance problems, it’s time to face up to the fact that Uber, and the wider gig economy, has a real compliance problem. From wrongly classifying works as self-employed to tax evasion, the problems of compliance and the gig economy aren’t going away....

Read Part 1. Changing the Game Plan In late June, FIFA, the world’s governing soccer organization, released the “Garcia Report,” chronicling the extensive corruption and conflicts of interest that occurred in FIFA’s awarding of the men’s 2018 and 2022 World Cup venues. Part 1 summarized the report’s findings. Part 2 discusses how specific steps and safeguards can mitigate the risks...

Key Considerations for Your Next Compliance Tech Dun & Bradstreet's Global Regulatory Strategist outlines six key traits compliance professionals should be on the lookout for when evaluating next-gen compliance solutions. In an increasingly global economy where pressure for cost control is high, accessibility to broader data and advanced technologies can help compliance executives manage new regulations and intensified scrutiny. Compliance executives today...

Foul Play The first installment of this two-part series summarizes the Garcia Report's findings of misconduct. Author Brandon Fox also focuses on the difficulties investigators faced as a result of leaders failing to cooperate and contrasts the misconduct and lack of cooperation to the U.S. Soccer Federation’s behavior. In late June, the world’s governing soccer organization released the “Garcia Report,”...

Investigations: Don’t Lose Sight of the Basics These days, attorneys and in-house legal departments can easily get caught up in the electronic evidence frenzy and in their rush to embrace the ever-evolving world of electronic evidence, they may find themselves expending significant resources on digital collection and authentication procedures. They’d do well to remember that many of the challenges attorneys...

A Tectonic Shift in Operating Models? Financial services has always been a heavily regulated industry. And while anti-money laundering and counter-terrorist financing regulations are getting more stringent by the day, financial criminals continue to find ways to bypass the strict monitoring rules employed by banks. Banks face increased regulatory scrutiny, heavy fines for compliance breaches and reputational harm in the...

The Need for Regulatory Support Financial institutions and federal bank regulators can integrate location intelligence as a regulatory technology (Regtech) solution to ensure compliance with anti-money laundering (AML) standards, financial inclusion requirements, and fair lending regulations. This article outlines the key benefits for banks and regulatory authorities of integrating geospatial technology. Geospatial technology — or technology focused on the collection,...

Is Your Program Adaptive? True Office Learning works with major corporations to provide detailed compliance insights through data analytics. Over the years, they’ve learned a lot about how employees learn and the benefits of creating adaptive learning environments. This kind of environment is key in knowledge acquisition and retention, and it can be highly helpful in compliance training. Building a...

As a marketer, I’ve had the opportunity to attend a lot of ethics and compliance (E&C) conferences and events around the United States in the past 24 months. At these events, I’ve noticed that Chief Compliance Officers and other E&C professionals who attend generally aren’t there to see product demos from vendors. They are there to meet their peers, network,...