Articles | Compliance Week – Page 103
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ArticleIn the battle over whistleblowers, money matters
Is there competition among international regulators with courting whistleblowers? If so, writes Martin Woods, the path to victory is obvious: monetary incentives.
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ArticleWestpac considering New Zealand unit demerger amid risk review
Westpac is assessing a demerger from its New Zealand business after the Reserve Bank of New Zealand ordered the unit to commission two independent reports concerning the bank’s liquidity and risk governance processes.
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ArticleEx-GPB Capital CCO avoids prison in SEC theft case
A former SEC examiner who used insider information about an ongoing fraud investigation to obtain the chief compliance officer job with private equity firm GPB Capital has been sentenced to nine months of home confinement.
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ArticleSEC seeking comment on new foreign audit oversight rules
The SEC is seeking comment on new submission and disclosure rules related to foreign public companies that are not allowing U.S.-based auditors to review their financial statements.
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ArticleLocal laws proving to be roadblocks for GDPR harmonization
Recent cases in Germany, France, and Austria underscore the difficulty of getting EU members on the same page regarding GDPR enforcement—particularly when other local laws take priority.
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ArticleTesla braces for investor lawsuit with senior compliance appointment
Tesla in February appointed David Searle as deputy general counsel and senior director of compliance. The electric car maker is currently facing an investor lawsuit criticizing its board for failing to appoint a general counsel to control CEO Elon Musk.
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ArticleSPACs are big-risk, big-reward investments that can give compliance fits
Once a moribund and little-used method to bring a private company public, SPACs dominated the market in 2020 and the first three months of this year. With the trend have come new risks for compliance.
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ArticleFox Corp. names new CECO, general counsel
Media giant Fox Corporation shook up its ethics and legal departments with the appointments of Jeff Taylor as general counsel and Nicholas Trutanich as chief ethics and compliance officer.
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Sally Beauty appoints chief accounting officer
Salon retailer Sally Beauty Holdings announced the appointment of Kim McIntosh as group vice president, controller and chief accounting officer.
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ArticleCorruption-embroiled FirstEnergy names chief ethics and compliance officer
FirstEnergy named Antonio Fernández vice president and chief ethics and compliance officer, effective April 12. His appointment comes amid U.S. government scrutiny over a corruption scandal.
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ArticleCFTC fines Coinbase $6.5M for inaccurate reporting, wash trading
Coinbase agreed to pay a $6.5 million civil penalty to settle charges from the Commodity Futures Trading Commission for reporting violations and improper trading activity by a former employee.
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ArticleInternal audit’s role in cyber-security testing: Where to start
Nathan Anderson, senior director of internal audit at McDonald’s, discusses ways internal audit can better answer management questions about cyber-risks and become a more independent cyber-security testing function overall.
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ArticleCan compliance keep pace in a rapidly changing digital world?
In a rapidly changing digital world, thinking around compliance needs reframing. The question today is whether compliance can stay ahead of the curve.
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ArticlePopular Clubhouse app being probed for GDPR violations
France’s data privacy watchdog adds to a growing list of regulators that have launched investigations into Alpha Exploration, the publisher of the Clubhouse application, regarding measures it has taken (or not taken) to comply with the GDPR.
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ArticleBoard members named to California’s first-in-the-nation data privacy board
The California Privacy Protection Agency, tasked with enforcing the state’s groundbreaking data privacy laws, now has a five-member board of directors.
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ArticleToyota discloses ‘possible anti-bribery violations’ to U.S. authorities
Toyota said in a regulatory filing it has “reported possible anti-bribery violations related to a Thai subsidiary” to U.S. enforcement agencies.
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ArticleCFTC joins SEC in climate risk push
The Commodity Futures Trading Commission announced the formation of a “Climate Risk Unit” to support the agency’s efforts to determine the role of derivatives in addressing climate-related risks.
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ArticleSFO closes bribery investigation into KBR’s U.K. subsidiaries
The Serious Fraud Office announced it closed its bribery and corruption investigation into the activities of KBR’s British subsidiaries and employees, weeks after the U.K. Supreme Court unanimously ruled the agency breached its authority in the case.
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ArticleItalian court acquits Eni, Shell of corruption charges
An Italian court acquitted oil companies Royal Dutch Shell and Eni and a group of current and former executives of corruption charges surrounding a widespread bribery scheme to acquire oil exploration rights in Nigeria.
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ArticleU.K. government proposals spell out Big Four breakup, new audit responsibilities
The U.K. government has unveiled proposals designed to end the Big Four accounting firms’ dominance of the region’s audit market while also making companies and executives more directly accountable—and liable—for failures in corporate reporting.