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Compliance

All articles tagged with #compliance

Goldman Sachs tightens employee bets in prediction markets
finance2 days ago

Goldman Sachs tightens employee bets in prediction markets

Goldman Sachs has instructed employees to limit their prediction-market bets to sports and entertainment due to compliance risks tied to material non-public information, with breaches potentially costing a job. The internal memo underscores banks' regulatory concern as platforms like Kalshi and Polymarket expand into financial bets on events such as elections and rates, drawing scrutiny over profits from advance knowledge; Kalshi is even exploring a multibillion-dollar funding round.

via Financial Times|
#compliance#finance#goldman-sachs
Polymarket bets on a trust-first US comeback with tighter oversight
business3 days ago

Polymarket bets on a trust-first US comeback with tighter oversight

Polymarket is launching a US re-entry backed by a high-profile compliance push, including former DOJ/FBI officials and Coinbase alumni, and via the QCEX acquisition to operate under CFTC rules. The USD-based platform will be more tightly regulated and smaller in scope than its international counterpart, as executives emphasize “trust is the product.” The effort faces scrutiny over past offshore marketing practices and faces competition from Kalshi as US market volumes rise.

via Yahoo Finance|
#business#compliance#kalshi
Kalshi tightens insider checks by requiring workplace disclosures on high-risk bets
business1 month ago

Kalshi tightens insider checks by requiring workplace disclosures on high-risk bets

Kalshi says it will begin collecting users’ employer information for bets on markets with heightened insider risk, to identify presumptive insiders and block trades before they’re placed. A risk-scoring system will flag high-risk markets (such as national-security topics) for heightened scrutiny, part of broader efforts to curb insider trading on prediction markets amid ongoing regulatory and enforcement scrutiny.

via BBC|
#business#compliance#insider-trading
Goldman Sachs Employee Quits After Compliance Clash Over 'Investment Baker' Side Hustle
business1 month ago

Goldman Sachs Employee Quits After Compliance Clash Over 'Investment Baker' Side Hustle

Allison Sheehan, a Goldman Sachs wealth manager known online as Investment Baker, left the firm last year after compliance flagged her branding and posts about baking while employed on Wall Street; she has since built Alleycat Baking Co., now producing up to 30 desserts weekly and pursuing an MBA at Northwestern while exploring retail and baking-product ventures.

via New York Post|
#baking#business#compliance
EU Narrows Sustainability Rules in Omnibus I, Trimming CSRD and CSDDD Scope
government4 months ago

EU Narrows Sustainability Rules in Omnibus I, Trimming CSRD and CSDDD Scope

EU member states approved the Omnibus I package, dramatically reducing sustainability obligations by keeping the CSRD’s 1,000-employee cutoff but adding a €450 million annual revenue threshold that excludes about 90% of firms, and by raising the CSDDD thresholds to 5,000 employees and €1.5 billion in revenue. The package also eliminates the climate-transition plan requirement and the EU-wide liability regime, caps penalties at 3% of global revenue, and delays CSDDD compliance to July 2029. It limits reporting demands on smaller suppliers and allows reliance on reasonably available information. The aim is to cut red tape, simplify rules, and boost EU competitiveness with publication to follow and entry into force 20 days after.

via ESG Today|
#compliance#csddd#csrd
OFAC Fines IMG Academy $1.72 Million Over Cartel-Linked Tuition
business4 months ago

OFAC Fines IMG Academy $1.72 Million Over Cartel-Linked Tuition

U.S. Treasury’s OFAC fined IMG Academy $1.72 million for processing tuition payments for two students whose parents were linked to a Mexican drug cartel, reporting 89 sanctions violations over five years; the school allegedly failed to screen sanctioned individuals and received wire transfers from Mexico. IMG says it disclosed the issue, had no sanctions program at the time, and has since implemented a comprehensive compliance program.

via Sports Illustrated|
#business#compliance#drug-cartel
NCAA report reveals Michigan football's compliance issues and internal conflicts
sports11 months ago

NCAA report reveals Michigan football's compliance issues and internal conflicts

The NCAA report reveals a contentious relationship between Michigan football coach Jim Harbaugh and the school's compliance department in 2023, highlighting disregard for rules, resistance from the football program, and penalties including a 10-year show-cause order for Harbaugh, amid ongoing investigations into sign-stealing and recruiting violations.

via MLive.com|
#compliance#harbaugh#michigan