Articles | Compliance Week – Page 149
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Comcast appoints new chief compliance officer
Global media and technology company Comcast announced it has hired Candy Lawson as senior vice president, chief compliance officer, and senior deputy general counsel.
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My Compliance Library: ‘Crude Intentions’ gets at the why of compliance
A reading of “Crude Intentions” can go a long way toward educating those who work in high-risk regions as to the ramification of their misguided decisions.
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SFO: Tesco concludes three-year DPA for accounting scandal
The U.K. Serious Fraud Office announced British supermarket chain Tesco Stores has fulfilled the terms of its 2017 deferred prosecution agreement resulting from an accounting fraud scandal.
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FASB Q&A addresses lease concessions related to coronavirus
FASB staff has issued interpretative guidance in the form of a question-and-answer document addressing accounting for lease concessions related to economic effects of the coronavirus pandemic.
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Pandemic, government money create perfect storm for financial fraud
A global pandemic, an unprecedented flow of government money, and a weakening of lending controls could create a perfect storm of opportunity for fraudsters.
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Glass Lewis and ISS issue new policy guidance on impacts of the coronavirus
Glass Lewis and Institutional Shareholder Services both issued new policy guidance this week on how they intend to approach a variety of matters around the coronavirus pandemic, including executive compensation.
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Is tracking adherence to stay-at-home mandates a privacy concern?
Google has offered health officials a way to use data to monitor people’s behavior during the government’s mandatory quarantines, but some say the gesture may “raise significant privacy concerns.”
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Luckin Coffee, iQIYI fraud allegations point to wider China problem
Scathing reports against China-based Luckin Coffee and iQIYI both alleging fabricated revenues are the latest examples of a much broader accounting and auditing problem in the United States.
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SEC’s Clayton stresses importance of coronavirus disclosures
With the close of the first quarter and earnings releases and investor calls around the corner, senior leadership at the SEC is pushing for full disclosure transparency regarding impact of the coronavirus pandemic.
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Why risk, compliance, and ESG principles matter now more than ever
The current regulatory and risk climate puts companies in a unique position to showcase their GRC and ESG principles, positioning them to thrive in the long run.
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Duolingo adds first general counsel, CFO
Popular language learning platform Duolingo announced the appointments of Stephen Chen as the company’s first general counsel and Matt Skaruppa as its first chief financial officer.
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Beacon Healthcare Systems tabs chief compliance officer
Beacon Healthcare Systems announced the appointment of John Tanner as its chief compliance officer.
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Hanover Insurance replaces longtime general counsel
Hanover Insurance Group announced Dennis Kerrigan has been appointed executive vice president and general counsel following the retirement of J. Kendall Huber, who spent 20 years in the role.
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ORIC Pharmaceuticals names general counsel
ORIC Pharmaceuticals, a privately held, clinical-stage oncology company, announced Dr. Christian Kuhlen has been named general counsel.
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Taro appoints accounting chief
Taro Pharmaceutical Industries announced the appointment of Daphne Huang as vice president, CFO and chief accounting officer.
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Survey: Coronavirus has companies scattered with exec pay packages
Results from executive compensation consulting firm Pearl Meyer’s recent survey show that companies are all over the place with how they intend to treat executive compensation during the coronavirus pandemic.
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Fed grants Wells Fargo temporary relief from asset cap restriction
An asset cap imposed on Wells Fargo in response to systemic failures at the bank in recent years has been temporarily modified to reduce limitations on its ability to distribute loans amid the coronavirus pandemic.
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FASB votes to approve leases, rev rec delays amid coronavirus response
The Financial Accounting Standards Board ruled unanimously on tentative effective date delays to standards affecting revenue recognition and leases in response to the ongoing coronavirus pandemic.
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FinCEN, OCC offer BSA compliance relief amid pandemic
Two federal agencies that oversee Bank Secrecy Act requirements have notified financial institutions they will agree to “reasonable delays” in the filing of required reports if institutions can show the delays are necessary due to the coronavirus pandemic.
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Study: Europe blows U.S. away in financial crime spending
A new report found financial institutions spent $181 billion on financial crime compliance worldwide last year, with European firms spending three to four times more than their counterparts in North America.