Month: September 2021

Looking for Compliance Risks in Oceans of Data

Leveraging machine learning and advanced anomaly detection to address the overwhelming flood of digital communications data Since email first revolutionized the way professionals communicate with each other, the proliferation of faster and more sophisticated digital communication tools for powering business has only continued to expand. It’s well known that companies Read More

WPP Bribery Charges

SEC: U.K.-Based Advertising Giant Ignored Red Flags of Corruption

London-based WPP plc, the world’s largest advertising group, has agreed to settle bribery charges with the Securities and Exchange Commission. The company will pay more than $19 million to resolve allegations that it violated the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act Read More

OCC Reprimands Bank for ‘Unsafe’ Tech and Risk Management Practices

The Office of the Comptroller of the Currency issued a “cease and desist” order against MUFG Union Bank based in San Francisco for engaging in “unsafe or unsound practices regarding technology and operational risk management.” The regulator also took issue with what it called, “the bank’s noncompliance with the Interagency Read More

whistlenblower cash

SEC Surpasses $1B in Whistleblower Payments with Massive Award

The Securities and Exchange Commission announced awards of approximately $110 million and $4 million to two whistleblowers whose information and assistance led to successful SEC and related actions. With these awards, the SEC’s whistleblower program has now paid more than $1 billion in awards to 207 whistleblowers, including over $500 Read More

FASB Logo

FASB Proposal Attempts to Clarify Fair Value Measurement Rules

The Financial Accounting Standards Board proposed a new standards update yesterday that hopes to clarify guidance on rules on how entities should measure the fair value of equity securities, particularly when they are subject to contractual restrictions preventing their sale. In August 2018, FASB issued final guidance on Fair Value Read More