Hiring good people for compliance departments is getting harder as young professionals increasingly gravitate toward business careers with more curb appeal. Many in the sector say it is a struggle to hire top early-career professionals, in part because of its emphasis on helping companies stay ahead of legal requirements. It is also a grind to recruit young professionals with the…
Binance, the world’s largest crypto exchange, says it expects to have 645 full-time compliance employees on staff by the end of the year — a 34% increase from last November — as it continues to rapidly build out its compliance department. Including contractors, the crypto exchange already has over 1,000 employees focused on compliance, according to a Friday press statement…
Regulators have put a finer point recently on what they’re looking for in risk and compliance. For example, the Department of Justice is looking at whether a company’s compliance program is well-designed, such as its policies and procedures and its training and investigation structures, Brown said. The DOJ is also looking at whether the program is being applied “earnestly and…
The Securities and Exchange Commission today charged Idaho-based investment adviser Inspire Investing LLC with making misleading statements and for compliance failures related to the execution of its “biblically responsible investing” strategy. According to the SEC’s order, Inspire Investing represented that it used a data-driven methodology to evaluate companies and that it would not invest in companies that had “any degree…
Similarly, if you are a senior risk manager and you come into an interview for a new job and they are like “tell me about a crisis you have handled” and you say “I have never handled a crisis, the point of my job is to avoid crises, I have an unblemished record of not letting things develop into crises,”…
Chief compliance officers continue to rake in more money, but increases in most sectors have slowed, according to a new survey. Median compensation—which includes base salary plus bonus—for compliance chiefs at public companies rose 7% to $419,000 in 2024, while it climbed 12% to $250,000 at nonprofits, according to a March survey of compliance heads conducted by boutique executive search…
Whistleblower programs and companies’ internal compliance processes aren’t in competition for information from whistleblowers. Counsel representing individuals who participate in government whistleblower programs understand that such a conclusion has it all wrong. *** According to the Securities and Exchange Commission’s fiscal year 2017 annual report to Congress on its whistleblower program, about 62% of award recipients from fiscal years 2012…
Ericsson has tapped its investigations team leader to be its new chief compliance officer, as the Swedish telecommunications-equipment company continues to serve a probation period imposed by the U.S. Justice Department after it breached an earlier settlement over bribery violations. Rebecca Rohr, an American who currently serves as Ericsson’s head of corporate and government investigations, has been appointed compliance chief,…
Binance named Steve Christie as deputy chief compliance officer, bringing him back to the world’s biggest cryptocurrency exchange following its settlement of anti-money laundering and US sanctions violations. Christie was Binance’s senior vice president of compliance when he left the company last summer just as it navigated a regulatory crisis that resulted in a more than $4 billion settlement with…
Industrial & Commercial Bank of China will pay about $32 million to resolve investigations into alleged compliance problems at the bank’s New York branch. ICBC, the world’s largest bank by assets, entered into settlements with the Federal Reserve and the New York State Department of Financial Services, the regulators said Friday. ICBC will pay $30 million in connection with an…