T he Securities and Exchange Commission announced that it filed 583 total enforcement actions in fiscal year 2024, while obtaining orders for $8.2 billion in financial remedies, the highest amount in SEC history. That record amount consisted of $6.1 billion in disgorgement and prejudgment interest, also the highest amount on Read More
W e all know about the great migration to “work from home” that occurred during COVID-19 pandemic starting in 2020 and lasting into 2021 and 2022. While many organizations have moved employees back to the office for some or part of the work week, the remote work movement has remained Read More
M cKinsey and Company Africa, which operates in South Africa as a subsidiary of international consulting firm McKinsey & Co., will pay over $122 million to resolve an investigation by the Justice Department into a scheme to pay bribes to government officials in South Africa between 2012 and 2016. A Read More
I t has been said that if a butterfly flaps its wings in the Serengeti, it can change the climate half a world away. Similarly, if an EU regulator enacts regulation in the EU Commission, it can have a major impact as far away as the United States. We saw Read More
A new report predicts that compliance and assurance functions could double the amount they spend on new technology by 2027. According to the research, issued by Gartner Inc., generative AI, machine learning, and large language models will fuel a surge in spending by compliance, risk management, and assurance functions. The Read More
D igital disruption and climate change have emerged as the two fasting-growing risk areas for organizations across industries, according to a new report. Based on feedback from more than 3,500 internal audit leaders around the world, global risk levels for digital disruption and climate change are projected to increase 20 Read More
W ells Fargo’s recent disclosure of regulatory investigations related to its anti-money laundering (AML) and sanctions programs and agreement to “work with U.S. bank regulators to shore up its financial crimes risk management” serves as a timely reminder of the ongoing importance of robust compliance measures in the financial sector. Read More
T he Securities and Exchange Commission’s Division of Examinations has released its 2025 examination priorities. This year’s examinations will prioritize perennial and emerging risk areas, such as fiduciary duty, standards of conduct, cybersecurity, and artificial intelligence. For fiscal year 2025, in addition to conducting examinations in core areas such as Read More
T he Justice Department filed a civil antitrust lawsuit against Visa accusing the payments processor of monopolization and other unlawful conduct in debit network markets in violation of anti-trust laws. Filed in the U.S. District Court for the Southern District of New York, the complaint alleges that Visa illegally maintains Read More
The Department of Justice launched a new initiative to crack down on corporate crime: the Corporate Whistleblower Awards Program. Under this program, whistleblowers can now submit information to DoJ’s Criminal Division about certain types of corporate crime such as bribery and fraud. The program offers monetary awards to those provide Read More
