Morning Risk Report
Insights and news on governance, risk and compliance.
The 10-Point.
A personal, guided tour to the best scoops and stories every day in The Wall Street Journal.
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BNP Paribas SA was sentenced Friday to five years of probation and ordered to pay a $140 million fine. Along with the sentencing, the U.S. announced it would try to compensate victims of the bank's violations.
John Nelson, who has been chairman of the specialist insurance market Lloyd’s since 2011, discusses new challenges for risk managers and the insurance industry.
A better global governance framework would be a significant step toward addressing the threats posed by new technologies, according to a new report.
Sheldon Adelson testified in a Las Vegas court and said an FCPA probe, in four years, hasn't found a shred of evidence.
Proposals for a national privacy law would allow companies to decide if breaches warrant telling customers.
Is there a way for big banks to hire relatives of foreign government officials and steer clear of potential Foreign Corrupt Bribery Act troubles?
When members of a drug gang made a threat against the Detroit police chief, the Detroit Crime Commission was able to use specialist threat-assessment software to identify the threat. Companies are using the same methods to see risk.
The Brown Brothers Harriman compliance officer who was penalized last year for alleged oversight lapses has left the firm.
Vancouver is “emerging as a critical money laundering hub” for international criminals, due to a convergence of factors, experts say.
The judge overseeing HSBC Holdings PLC's compliance with its anti-money laundering settlement has ordered the government to turn over a recent report on the bank's progress.
Corporate managers used to thinking about political risk in the context of investments in emerging markets are finding it in the U.S.
The U.S. Department of Justice, as part of a broader roll out of its engagement with the corporate sector on cyber issues, released guidance containing what it sees as best practice for victims -- and potential victims -- of data breaches.
Almost three-quarters of the U.S. stock-listed companies that have filed 10Ks with the SEC since Dec. 15, 2014 have transitioned to using the updated COSO 2013 framework for reporting internal controls of their financial reporting requirements.
Watch out employers: retaliate against an employee whistleblower and the Securities and Exchange Commission might not just penalize your firm--they may also distribute part of that penalty to the alleged victim of retaliation.
A federal appeals court Friday rejected a broadside challenge to the constitutionality of the Consumer Financial Protection Bureau, ruling the challengers lacked a proper basis for bringing the lawsuit.
The cargo-ship seizure in the Strait of Hormuz underscores the heightened risk and unforeseen costs of global commerce.
BNP Paribas will pay a fine of $140 million and face a five-year probation for violating U.S. sanctions, putting its total financial penalty in the high-profile case at nearly $9 billion.
The U.S. is investigating whether senior Russian officials took bribes from contractors involved in handling uranium sold to the U.S.
EBay shareholders approved a measure that will give them more power to nominate directors of the e-commerce giant.
David Wildstein, ex-ally of New Jersey Gov. Chris Christie, pleaded guilty to two counts of conspiracy and two former state officials were charged in the George Washington Bridge scandal.
The split verdict for Sergey Aleynikov ends a tumultuous trial but leaves open the chance the yearslong saga could continue.
An Austrian court has ruled not to extradite Ukrainian billionaire Dmytro Firtash to the U.S., where he is facing bribery charges.
INTL FCStone Inc.’s futures brokerage has been ordered to pay $140,000 to settle charges that it failed to adequately supervise employees, the U.S. Commodity Futures Trading Commission said.
An international group of industry and government experts has decided to begin developing tougher packaging standards for shipments of lithium batteries as cargo on commercial aircraft.
Big banks are using a little-known loophole to avoid triggering a Securities and Exchange Commission ban on selling certain lucrative products to clients in the wake of enforcement actions.
Nearly four years after Boeing Co.’s 787 Dreamliner entered commercial service, federal regulators are moving to combat a potentially dangerous software glitch they said can cause a total loss of electrical power that would endanger the aircraft.
Ford is expanding a recall of small and midsize cars to fix door latches that may not stay closed under pressure from U.S. safety regulators.
A difficult-to-duplicate invisible ink could make counterfeiting of bank notes very difficult, scientists at Northwestern University say.
Investors in states with strong securities and consumer-protection laws may stand the best chance of recouping money from failed investments in arbitration.
A federal judge ordered American Express to let merchants steer customers to other forms of plastic payments, including debit cards.
The chief of police at the largest container port in the U.S. was indicted Thursday on corruption and tax charges stemming from an alleged revenue-sharing scheme.
U.S. transportation regulators issued new rules for railroads hauling crude oil and ethanol requiring trains to be equipped with new brake systems.
Amin H. Nasser was named acting president and chief executive of Saudi Aramco following a 23-year career at the company.
New York City will spend part of $447 million it will receive from a court settlement involving French bank BNP Paribas SA on initiatives for its criminal justice system, including establishing a database designed to help speed up court cases and reduce incarceration rates, officials said.
U.K. insurer Prudential confirmed it has appointed U.S. head Mike Wells as chief executive, replacing Tidjane Thiam who is leaving to join Credit Suisse.
Charles Schwab said it doesn’t plan to charge liquidity fees or adopt redemption gates for its government funds, following expanded regulation that allows fund managers to do so during times of market turmoil.
New Mexico’s auditor released a report accusing Albuquerque’s ex-police chief of violating state law by brokering a lucrative contract to outfit city police with body cameras while serving as a consultant for the maker of the devices, Taser International.
Puerto Rico legislators rejected a tax overhaul that officials have called critical to the U.S. commonwealth’s effort to replenish government coffers, sending some bond prices to record lows.
After years of criticism that it has been too easy on tech giants like Facebook, the Irish data protection agency is expanding its workforce and moving to a new office in Dublin.
Yahoo CEO Marissa Mayer has spent more than $2.1 billion to acquire 52 startups during her tenure, in most cases to bring in new blood. But keeping entrepreneurs happy at a lumbering tech company isn’t always easy.
Tucked into a Congressional draft bill called 21st Century Cures for jump starting medical innovation is a passage that would undo a portion of a federal law requiring drug and device makers to disclose payments to physicians.
Calls to lighten the regulatory burden on small- and medium-size banks continue to mount, but disagreement among key lawmakers is complicating legislative prospects for the foreseeable future.
Renault shareholders rejected a board-backed resolution that would have blocked the French government from getting double-voting rights in the auto maker, handing the economy minister a victory.
Sarah Dahlgren will resign as the New York Fed’s head of supervision Oct. 1 but will stay on as an adviser to President William Dudley through year’s end.
For years, Warren Buffett has elicited both admiration and envy for the deals he has pulled off, but a related question has long weighed on Berkshire investors’ minds: What happens when he is gone?
Risk management, strategy and analysis written and compiled by Deloitte
New guidance from the FASB may affect certain software-as-a-service arrangements, as well as other cloud computing contracts, as the standard-setter seeks to clarify rules related to how a customer accounts for fees linked to software license elements. However, the new guidance does not prescribe how to account for cloud computing arrangements deemed to be service contracts.
The economic situation is very different in each of the world’s leading markets: Europe is torn between two poles; the government is acting to thwart China’s slowdown; Japan is recovering; India is strengthening; and Brazil and Russia continue to face serious challenges. In the latest Global Economic Outlook report, Deloitte economists discuss the short-term situations in major economies.
Decisions pertaining to people are among the hardest tasks confronting new or incoming executives. Often, new executives look back on the first year in their new roles and cite moving too slowly to resolve talent issues as their biggest regret, says Dr. Ajit Kambil, global research director for Deloitte’s CFO program. He discusses talent strategies related to reducing the time lost in trying to “rescue” key staff and the importance of knowing the critical trade-offs between individual rescue efforts and recruiting staff with the requisite skills and temperament to succeed.
The regulatory landscape for insurance will likely continue to be challenging and uncertain in the year ahead, and the industry can expect to face new rules and modified requirements that could significantly affect how companies operate. Learn about top regulatory trends in the U.S. and international arenas that could accelerate compliance, oversight and enforcement rulemaking activities in the coming year.
The strength of the U.S. dollar raised concerns among CFOs, sparking some to become more deliberate about their hedging strategies, according to Deloitte’s first-quarter 2015 CFO Signals™ survey. Meanwhile, 35% of CFOs surveyed said they were decreasing their exposure to the euro to help manage their currency risks. Many CFOs also continued to say their most worrisome external risks relate to the health of Europe, China and other major economic zones.
Boards are placing more focus on strategy and performance, but perhaps not enough on cybersecurity, as found in a recent global corporate governance benchmarking survey conducted by Deloitte Touche Tohmatsu Limited, “Global Director 360°: Growth from all Directions.” The latest edition of the report reflects the perspectives and insights of more than 300 boardroom directors at public and private companies across 15 countries and regions on a range of governance, compliance and risk issues.