Tag: Compliance

Government Whistleblower and Compliance Programs Share Same Goals

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…

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Ericsson Names New Compliance Chief – WSJ

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,…

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Steve Christie Returns to Binance as Deputy Compliance Officer – Bloomberg

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…

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ICBC Fined $32 Million by New York’s Financial Regulator and Fed for Compliance Failures – WSJ

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…

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Tammy Weinrib Joins Binance.US as Chief Compliance Officer

Binance.US today announced the appointment of Tammy Weinrib as Chief Compliance Officer. In this role, Tammy will lead Binance.US’s compliance efforts, including the company’s know-your-customer (KYC) and anti-money-laundering (AML) programs, and engage with regulators and law enforcement agencies across the United States. In her new role, Tammy will report to Binance.US Chief Risk Officer Sidney Majalya. Source: Tammy Weinrib Joins…

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The SEC’s Director of Enforcement Announces a New Paradigm for Assessing Compliance Effort | Akin Gump Strauss Hauer & Feld LLP

On October 24, 2023, the Director of the Securities and Exchange Commission’s Enforcement Division, Gurbir S. Grewal, gave a keynote address to the New York City Bar Association’s 2023 Compliance Institute. This address, which was targeted primarily at compliance officers in the private funds space, represents a maturation in how the Enforcement Division views the role of the Chief Compliance Officer.…

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Gurbir Grewal’s Remarks at New York City Bar Association Compliance Institute

There are really three situations where the Commission typically brings enforcement actions against compliance personnel: where compliance personnel affirmatively participated in misconduct unrelated to the compliance function; where they misled regulators; and where there was a wholesale failure by them to carry out their compliance responsibilities. The first category is easy: being a member of the compliance function is not…

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Barclays nabs HSBC compliance chief Kirsty Everett – Financial News

London-based Barclays said on 20 April that it has named Kirsty Everett as its new compliance chief, ending a few months of search. Everett is joining from HSBC, where she was group head of compliance after previously holding other senior compliance roles. She will start July 1, subject to regulatory approval, Barclays said. Source: Barclays nabs HSBC compliance chief Kirsty Everett…

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Binance Compliance Chief Calls His Job One of the ‘Most Challenging’ – WSJ

Mr. Perlman, speaking at a crypto industry conference on Tuesday, said it has been difficult to navigate the often opaque rules governing the crypto industry without being on the wrong side of the regulators. One reason, said Mr. Perlman, who joined Binance in January after a monthslong search by the exchange, is the “regulation by enforcement” approach taken in the…

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