Kyle Brasseur

Grant Thornton UK was assessed a penalty of 40,000 pounds (U.S. $51,000) by the Financial Reporting Council (FRC) for alleged procedure failures affecting the firm's audit of a local authority's pension fund.

The biggest strength of Compliance Week's National Conference in Washington, D.C., as told to me by attendees each year, is its ability to remain approachable in size and scope.

Proterial Cable America received a declination notice from the Department of Justice related to its voluntary self-disclosure and remediation of apparent fraud committed by its employees.

The Consumer Financial Protection Bureau continued its push to establish supervisory authority over more nonbank financial companies with the adoption of a procedural rule to streamline the process for such designations.

A proposal by the Treasury Department would allow the Committee on Foreign Investment in the United States to seek more information as part of its review activities and enable “substantially” larger penalties in instances of noncompliance with relevant regulations.

The U.K. Financial Conduct Authority reemphasized its desire to work with Big Tech firms to examine how their data might be useful to the financial industry.