GRC News Roundup November


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

Two whistleblowers receive over $16 million payout from the SEC (Nov 30th)

The unnamed whitsleblowers alerted the SEC to misconduct at their firm. Enforcement actions involving whistleblowers have now resulted in more than $8 billion in financial remedies against wrong doers. (source).

SM&CR: 5 lessons learned from the banking sector (Nov 22nd)

Liz Hornby, a Principal Learning Consultant at Eukleia Training, provided five lessons to help prepare for UK's SM&CR legislation. You can see the list here.

Alleged Chinese-Africa bribery involving US financial system (Nov 20th)

A bribery case alleges that a former Senegalese foreign minister bribed the former president of Chad and the Ugandan foreign minister. New York prosecutors suggest that they used the US financial system to do so. The men are being charged with violating the FCPA. (source).

Webinar: How to build a strong gifts, entertainment & hospitality program. (Nov 16th)

Last month we ran a webinar with compliance expert Michael Volkov on the topic of gifts and entertainment. He discussed the various ways to strengthen your program. You can view videos from it here.

5 Steps to be GDPR ready (Nov 16th)

Past webinar presenter, Emily Mahoney provided five steps for the financial and fintech sector to prepare for the EU GDPR (General Data Protection Regulation). You can view the full list here.

FINRA fines Q3 - 5 findings (Nov 9th)

We summarized five findings from FINRA fines in Q3 2017. You can read them here. Be sure to keep an eye out for our upcoming full year analysis of FINRA fines for 2017 in the coming weeks. Subscribe to our blog to be notified when it's published.

Paradise Papers: Tax Haven (Nov 6th)

A leak dubbed the 'Paradise Papers' containing 13.4 documents highlighted how a number of high profile politicians, celebrities and high net individuals used shell companies to avoid taxes (source).

'Fat Leonard' scandal grows to involve more than 60 US admirals (Nov 5th)

The US Department of Justice filed charges against 28 people to date, including 2 admirals. In what is being called the largest corruption scandal in the Navy's history, 440 Navy personnel, including 660 current and former admirals, are under review for possible breach of military law in their dealings with 'Fat Leonard' (source).

SEC Warns celebrities endorsing virtual currencies and ICO's (Nov 1st)

There has been over 270 ICO's (initial coin offerings) in 2017 so far. These ICO's raised more than $3 billion by selling new currencies to investors. As a result of the the growing trend for celebrities to endorse ICO's on social media, the SEC issued public warnings to both potential investors and celebrities. The SEC advised investors that these ICO's can be misleading, and the celebrities endorsing ICO's may be in violation of several laws (source). Download our whitepaper to learn more about Bitcoin regulation.

 Read our GRC News recaps from previous months

October GRC News

September GRC News

August GRC News