Articles | Compliance Week – Page 130
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New SEC division to coordinate response between OCIE, regional offices
The Securities and Exchange Commission announced the creation of a new division designed to bolster compliance with securities laws among firms working with the agency’s regional offices.
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Shared elements of best-in-class risk and compliance programs
A revamped NAVEX Global report reinforces a long-held belief in the compliance industry that those companies that trust employees to behave ethically continuously work to improve culture.
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CFTC awards $9M to whistleblower
The Commodity Futures Trading Commission awarded $9 million to a whistleblower whose “specific, credible, and timely tip’ led to a successful enforcement action. The payout is one of the five largest awarded by the regulator since 2014.
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How to navigate states’ patchwork quilt of return-to-office training requirements
As if cobbling together a return-to-office plan for your company during a pandemic is not difficult enough, 16 states now require employees receive coronavirus safety training.
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Companies paying price for EU-U.S. Privacy Shield removal
The legal and financial burden for companies to comply with the recent ruling to invalidate the EU-U.S. Privacy Shield might actually be worse than first thought, if an FAQ from the European Data Protection Board is any indication.
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Under Armour facing potential SEC enforcement over accounting practices
Under Armour revealed in a regulatory filing that its accounting practices are the subject of a pending enforcement action by the Securities and Exchange Commission.
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Johnson & Johnson discloses FCPA probe
Johnson & Johnson disclosed in a regulatory filing that it is fielding FCPA inquiries from the DOJ and SEC with regard to an investigation into potential bribery and anti-competitive practices in Brazil.
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The problem with ‘ghost CCOs’ and the haunting consequences
If you’re a small investment firm owner acting as your firm’s chief compliance officer, here are some scary stories that might keep you up at night.
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HSBC US appoints chief compliance officer
HSBC has appointed Christine Lowthian as chief compliance officer US, effective as of July 20.
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Taro Pharma to pay $206M to resolve price-fixing charges
Taro Pharmaceuticals will pay a $205.7 million criminal penalty to resolve charges as part of the Justice Department’s ongoing investigation into the generic pharmaceutical industry.
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Goldman Sachs reaches $4B 1MDB settlement with Malaysia
Goldman Sachs reached a nearly $4 billion agreement in principle with the Government of Malaysia to resolve all criminal and regulatory proceedings related to three 1MDB bond transactions.
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CFTC finalizes new swap dealer rules under Dodd-Frank
In a pair of split votes that fell along party lines, the Commodity Futures Trading Commission approved rules on swap dealers that complete rulemaking ordered by the Dodd-Frank Act, enacted a decade ago.
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Facing potential takeover, PG&E pins hopes on reorganization
Found to be at fault for yet another wildfire last week, PG&E’s return from bankruptcy is off to a rocky start. A new reorganization plan at the company built around risk management and safety is key to avoiding a takeover by the state of California.
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FASB proposes new chapter for financial reporting framework
The Financial Accounting Standards Board has proposed a new chapter to Concepts Statement No. 8 that would define 10 elements of financial statements.
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Accounting execs arrested as Wirecard probe continues
German prosecutors arrested three Wirecard executives, including the former CFO and head of accounting, as an investigation into the company’s inflated balance sheet and a missing $2 billion continues to expand.
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IIA CEO Chambers to step down
The Institute of Internal Auditors announced longtime President and Chief Executive Officer Richard Chambers plans to step down at the end of March.
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Coca-Cola poaches general counsel from Ford
Coca-Cola announced Bradley Gayton has been elected senior vice president and general counsel. Gayton joins from Ford Motor Company, which has named John Mellen as his successor.
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Weatherford names chief compliance officer, general counsel
Multinational oil and gas company Weatherford International announced the appointment of Scott Weatherholt as executive vice president, general counsel and chief compliance officer.
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U.S. Olympic Committee hires first ethics and compliance chief
The United States Olympic & Paralympic Committee announced the hiring of Holly Shick as its new chief ethics and compliance officer coupled with the official rollout of stronger and more comprehensive National Governing Body audit standards.
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Barclays tabs group general counsel
Financial services giant Barclays announced the appointment of Stephen Shapiro as group general counsel, in addition to his current position as group company secretary.