GRC News Roundup January 2018


To keep you up to date with all the latest news and events, we have selected the top GRC news highlights from the past month. Click here to Subscribe to our regular GRC news updates.

MiFID II takes effect (Jan 3rd)

The Markets in Financial Instruments Directive became effective on January 3rd. The update to the original ESMA directive was designed to offer greater protection for investors, provide more transparency, and restore confidence in the investment industry after the 2008 crash. (source).

FINRA Fines 2017 Summary (Jan 5th)

We provided our subscribers with six key metrics from 2017 FINRA fines. "The average number of fines handed out per month in 2017 is 28. Broken down by quarter, Q1 saw the most (114), which was nearly four times greater than Q4 (35)." You can read the full summary here (source).

FCPA in 2017: The Year in Review (Jan 8th)

The DOJ made big announcements about the FCPA in 2017, extending the pilot program and revising it to create incentives for corporations to self-report violations (source).

FINRA 2018 Priorities Letter (Jan 9th)

On January 8th, FINRA released its annual regulatory and examinations priority letter. Read our summary of the industry's reaction here. "6 Things to Know about FINRA'S 2018 Priorities Letter."

GRC News: 2017 Summary (Jan 9th)

Read the biggest governance, risk and compliance news stories from 2017 here.(source).

KPMG fined (Jan 23rd)

The SEC charged six individuals for their participation in a scheme to help KPMG pass inspections by the Public Company Accounting Oversight Board (PCAOB). Three of the six CPAs charged are former high-ranking officials at KPMG. Additionally, three former staffers of the regulator were charged for allegedly shared confidential and sensitive exam information. (source).

Accenture introduces chat bot (Jan 25th)

Accenture introduced a new AI bot which allows users to answer compliance related questions, saving them time in looking through lengthy documents. The chat bot, took 12 months to develop and increased Accenture's code-of-ethics website visits (source).

General Electric under SEC investigation (Jan 25th)

G.E. released its final quarter results for 2017, showing losses of $9.8 billion. The company is undergoing a SEC investigation in relation to its "handling of its insurance obligations and how it accounted for certain services contracts." (source).

Three EU banks fined by DOJ (Jan 30th)

The US Department of Justice charged eight individuals across three top European banks (UBS, HSBC and Deutsche Bank) over allegations of spoofing. Deutsche Bank was fined $30 million, UBS $15m and HSBC $1.6m. (source).


 Read our summary of GRC News from last year

GRC News 2017 Roundup