Adrianne Appel

1 week ago | complianceweek.com | Adrianne Appel

Banks alerted authorities to $1.4 billion in suspicious transactions in 2024, a big assist in the nation’s fight against crime and fentanyl trafficking, according to the Financial Crimes Enforcement Network (FinCEN). Financial institutions are required under the Bank Secrecy Act (BSA) to report transactions that appear suspicious, because of the amount, the geographic locations, or the people involved.

2 weeks ago | complianceweek.com | Adrianne Appel

Many financial firms have mere days to notify New York about whether they have complied with the state’s strict cybersecurity regulations, and to gear up for new requirements rolling out May 1 and beyond. Annually by April 15, financial businesses must submit a Certification of Material Compliance or an Acknowledgment of Noncompliance, which specifies what still needs to be done.

2 weeks ago | complianceweek.com | Adrianne Appel

The federal government may have paused enforcement of the Foreign Corrupt Practices Act (FCPA), but that’s not the case in California, where bribes to foreign officials will be prosecuted, Attorney General Rob Bonta has warned businesses. President Trump issued an executive order on Feb. 10 that paused the FCPA for 180 days. Word had leaked to the press before the official announcement. The president said this was necessary so the U.S. attorney general could issue new guidelines for the act.

3 weeks ago | complianceweek.com | Adrianne Appel

A Federal Trade Commission (FTC) case against insulin price gouging has come to a screeching halt after two Democratic commissioners were fired by President Donald Trump. On March 31, the FTC stayed its suit against pharmacy middle managers, called pharmacy benefit managers (PBMs). Government investigations, including one by the FTC, have pointed to PBMs, as behind at least part of the high prices.

1 month ago | complianceweek.com | Adrianne Appel

An investment company and its founder, president, and chief compliance officer flagrantly kept violating mutual fund rules for multiple years after settling with the Securities and Exchange Commission, the SEC said in a complaint against the company. The SEC’s mandate is to be a watchdog for investors, and certain SEC rules are designed to steer companies and funds away from activities known to place investors’ money at high risk, or that would lead to fraud.