The Irish Data Protection Commission (DPC) has fined social media giant TikTok €345 million ($368 million) for violating the privacy of children between the ages of 13 and 17 while processing their data. In its binding decision, the European Data Protection Board (EDPB) analyzed the design practices implemented by TikTok Read More
Compliance leaders are facing increased pressure to make the most of existing resources due to economic challenges and increased workload and complexity, according to a new report. The study, conducted by research and consulting firm Gartner, identifies three crucial compliance function trends playing out this year: tighter budgets, changing labor Read More
The U.S. Department of Labor has proposed new rules that would extend mandatory overtime pay to 3.6 million salaried workers. The proposed rule would guarantee overtime pay for most salaried workers earning less than $1,059 per week, about $55,000 per year. “For over 80 years, a cornerstone of workers’ rights Read More
Ethics investigations can be challenging for just about any organization. If done right, an ethics investigation can help you identify wrongdoing and unethical behavior and put a stop to it before your organization pays the price for not maintaining a conducive and compliant work environment. A poorly executed ethics investigation, Read More
GUEST BLOG POST Leaders in any industry must anticipate the challenges–and opportunities–their companies face. As compliance practitioners responsible for trade surveillance, are we keeping pace with current and future challenges? Some evidence to consider: A top-tier bank was found to have no surveillance on its voice-brokered swaps desk, resulting in Read More
The European Commission has proposed a new regulation intended to streamline cooperation efforts between member countries when enforcing the EU’s data privacy laws, known as the General Data Protection Regulation (GDPR). If adopted, the new law would require European privacy regulators, known as data protection authorities (DPAs), to share more Read More
Just as in any other industry, the financial industry has its fair share of questionable behavior, and then some. For this reason, an alphabet soup of regulatory oversight — and accompanying fines for non-compliance, violations, and even fraud — exist to keep financial institutions in line. Regulatory bodies like the Read More
Data is one of the most important driving forces of a great compliance program. Compliance leaders often rely on data-driven metrics to find and correct any flaws within their organization’s compliance processes. With so many possibilities, though, what metrics should you include in your compliance report? Which ones offer the Read More
A new report shows that chief compliance officers and other compliance professionals got a nice bump in pay in 2022, as demand for compliance talent hit record highs. According to the report, by executive search firm BarkerGilmore, chief compliance officers received and average raise in base pay of 12 percent Read More
Office workers are using ChatGPT, or similar conversational AI models, for various tasks and purposes. Some of these uses can create risks of which compliance officers should be aware. Here are a few examples: 1) Virtual Assistants: ChatGPT can act as a virtual assistant, helping office workers manage their schedules, Read More
