Articles | Compliance Week – Page 148
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ArticleSEC announces record whistleblower award of nearly $50M
The Securities and Exchange Commission announced its largest ever whistleblower award to a single individual at nearly $50 million while denying a second claimant a share of the bounty.
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ArticleEDPB challenges Hungary’s GDPR suspension under Article 23
The European Data Protection Board will issue guidelines on the implementation of Article 23 of the GDPR after Hungary’s government used the article to suspend data subject rights until the end of its coronavirus state of emergency.
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ArticleHow to scour your organization for pandemic fraud risks
“Only when the tide goes out do you discover who’s been swimming naked,” said Warren Buffett. With the pandemic tide out, here are some related frauds that are likely already occurring that corporations should be watching for.
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ArticleLaw enforcement reform should take a cue from compliance
Just as companies must answer to their stakeholders, our public leaders and institutions need to be held more accountable to their constituents.
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ArticleFASB finalizes leases, rev rec delays prompted by coronavirus
The Financial Accounting Standards Board finalized effective date delays of one year to standards affecting revenue recognition and leases in response to the coronavirus pandemic.
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ArticleCFTC stresses clarity in revised civil monetary penalty guidance
The CFTC’s Division of Enforcement issued new civil monetary penalty guidance for the first time since publishing its penalty guidelines in 1994. The update is in line with recent efforts by the DOJ to crack down on commodities fraud.
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Daimler appoints chief compliance officer
German automotive corporation Daimler announced the appointment of Dr. Wolfgang Bartels as chief compliance officer. Dr. Bartels takes over for Olaf Schick, who is to become the CFO of Daimler Greater China.
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Denny’s welcomes general counsel
Restaurant chain Denny’s announced the appointment of Gail Sharps Myers as general counsel. In this role, Myers will head Denny’s legal functions, reporting to CEO John Miller.
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CNO Financial tabs chief risk officer
Financial services holding firm CNO Financial Group announced the appointment of Karen DeToro as chief risk officer, in addition to her current duties as chief actuary.
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Axogen names new chief compliance officer
Axogen, a developer of surgical solutions, announced the appointment of Brad Ottinger as general counsel and chief compliance officer to replace the retiring Greg Freitag.
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GCM Grosvenor adds chief risk officer
GCM Grosvenor, one of the world’s largest independent alternative asset management firms, announced the appointment of Amy Wierenga as chief risk officer..
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ArticleEricsson appoints DOJ-mandated compliance monitor
Ericsson announced the appointment of Andreas Pohlmann as its independent compliance monitor for the next three years in accordance with a deferred prosecution agreement reached with the Department of Justice over FCPA violations.
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ArticleDocumentary: Roadtrip Nation, CAQ partner to explore auditing careers
Considering a career in auditing? A new documentary produced by Roadtrip Nation and supported by the Center for Audit Quality follows three individuals pursuing just such a career.
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ArticleUSBI to pay $16M for breaches of fiduciary duty
U.S. Bancorp Investments, a dually registered investment adviser and broker-dealer, has agreed to pay $16 million to settle SEC charges for breaches of fiduciary duty arising out of its mutual fund share-class selection practices.
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ArticleRevised DOJ compliance guidance highlights risk, training, more
The Department of Justice posted new revisions to its “Evaluation of Corporate Compliance Programs” guidance, directing prosecutors to ask whether compliance is “adequately resourced and empowered to function” effectively, among other changes.
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ArticleAnalysis: When a bonus becomes less incentive, and more compromise
Financial crime expert Martin Woods explores what happens when the annual bonus causes employees to disregard their values for want of a dollar.
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ArticleNo stopping CCPA enforcement deadline, says California AG
With one month to go to the July 1 enforcement deadline of the California Consumer Privacy Act, it is still full speed ahead for Attorney General Xavier Becerra’s office.
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Wells Fargo appoints new risk leaders, enhances risk model
Still trying to polish its tarnished reputation, Wells Fargo announced the appointment of two new corporate risk leaders and an enhanced organizational structure “designed to provide greater oversight of all risk-taking activities.”
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ArticleInvestigation into EY’s audit of Danske Bank dropped
Denmark’s state prosecutor has dropped its investigation into whether Big Four firm EY violated anti-money laundering laws in connection with its audit of Danske Bank.
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ArticleImagining a utopian food supply chain
If the coronavirus pandemic has taught us anything, it’s that we need a more resilient food supply chain. Jaclyn Jaeger explains what that could look like and how the public and private sector could play their parts.