Compliance

Embracing New Technologies Fenergo’s Laura Glynn discusses how banks around the world are embracing a more digitalized and transformative approach to compliance and, indeed, client life cycle management. Read Part 1. The global financial services industry is currently on the brink of a massive technological disruption. Financial institutions are now beginning to actively explore new technologies, such as artificial intelligence...

Little Movement in Latest Transparency International Rankings Transparency International published its 2017 Corruption Perceptions Index (CPI) on February 21, 2018, showing modest improvements for most countries in Asia-Pacific. Some higher-risk countries, however, continue their downward slide in the overall rankings. We've included the Asia Pacific countries below and the full CPI is available at https://www.transparency.org/news/feature/corruption_perceptions_index_2017. with co-author Nicholas Turner The...

Making Sense of Dollars and Cents With the upcoming GDPR directive on everyone’s minds, compliance is a hot issue. Many see compliance as an unnecessary additional expenditure. What they fail to realize, however, is that noncompliance costs nearly three times as much as compliance does. Today, data is more valuable than gold, and organizations are hyperaware of how precious this...

Under the Regulatory Microscope Faced with increased regulatory demands and scrutiny in the midst of heightened regulatory enforcement, Nordic banks need to take a hard look at their AML/KYC systems and embrace a digital transformation approach to compliance. Fenergo’s Laura Glynn, Director of Regulatory Compliance, discusses. Over the last 10 years and since the onset of the global financial crisis,...

Bitcoin and other cryptocurrencies continue to gain ground as investors buy in, looking for high returns, and as acceptance of it as payment takes hold. However, with such growth come risks and challenges that fall firmly under the compliance umbrella and must be addressed in a proactive, rather than reactive, manner. Cryptocurrency Challenges One of the greatest challenges faced by...

Lessons Learned from the Trenches The #MeToo and #TimesUpNow social media campaigns sparked a movement to expose intimidating behavior and sexual assault in the workplace. Because of the resulting paradigm shift, harassed employees are empowered to speak up about wrongdoings. Corporate investigators Amy Conway-Hatcher and Bridget Moore discuss the need for corporations to re-evaluate their whistleblower reporting programs, assess current...

But Will it Change Anything? The Supreme Court recently narrowed the Dodd-Frank whistleblower definition and excluded from protection employees who do not take their complaints to the SEC.  It is impossible to know at this point what effect the case will have on the number of whistleblower actions, both because the decision is new and because there are numerous other...

Last month, the U.S. Supreme Court issued a decision in the Digital Realty Trust v. Somers case, a closely watched case in the compliance community. Tom Fox reviews the Court's decision and considers the effect of the decision on a host of actors, including CCOs, compliance practitioners, compliance programs, corporate America and the SEC itself.

Q&A with Gerry Zack, Incoming CEO of SCCE Today we are pleased to share an interview between CCI’s Founder, CEO and Publisher, Maurice Gilbert and incoming CEO of the Society of Corporate Compliance and Ethics (SCCE). Gerry Zack is a compliance and anti-fraud expert and author, specializing in the prevention, detection and investigation of fraud, noncompliance and corruption. Maurice Gilbert: What...

Enhancements Needed to Address Deficiencies April is fast approaching, and with it comes the deadline for certification with the New York State Department of Financial Services (NYDFS) Part 504 rule. The requirements pose considerable challenges for financial institutions, and any regulated institution that fails to detect or report suspicious money laundering transactions may be found to be deficient and in...

The Value of Big Data A crucial shift is underway in the financial services industry when it comes to regulatory compliance; cultures are changing, and new value is being created for banks and their customers because of AI technology. Grace Brasington of Watson Financial Services discusses the role technology can play in bank’s business and regulatory successes. When it comes...

Putting Plans Into Effect As tech evolves, so too does the compliance landscape, and keeping up can prove quite the challenge for many businesses. Here, we share trends and predictions from Anthony West, CTO at Actiance and an expert in electronic communications compliance. While 2017 was spent frantically preparing for regulations like MiFID II and GDPR, 2018 looks to be...