Articles | Compliance Week – Page 156
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ArticleU.K.’s ICO fines Cathay Pacific for pre-GDPR breach
The U.K. Information Commissioner’s Office has fined airline Cathay Pacific £500,000 (U.S. $643,000) for failing to protect the personal data of millions of customers.
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ArticleDOJ intervenes in whistleblower suit against Mallinckrodt
The Department of Justice has intervened in a whistleblower lawsuit against Mallinckrodt over allegations the drug maker knowingly underpaid Medicaid rebates it owed due to significant price increases to its drug Acthar.
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ArticleQ&A: Clearing up confusion with OFAC’s 50 Percent rule
Compliance Week spoke with Tiffany Archer, regional ethics and compliance officer and corporate counsel at Panasonic Avionics Corporation, on demystifying OFAC’s 50 Percent rule.
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ArticleKPMG names firm veteran as U.S. CEO
KPMG has named Paul Knopp—who has been with the company for 36 years—to be its next U.S. chair and chief executive officer.
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ArticleCompanies consider employee travel bans as coronavirus proliferates
While not yet the norm, employee travel bans are being bandied about by companies across the globe in light of the increasing coronavirus risk; the policy could lead to a trend toward virtual meetings.
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ArticleHerbalife sets aside $40M in FCPA probe
Dietary supplement maker Herbalife said in a regulatory filing it has set aside $40 million in accrued liability concerning an investigation into the company’s compliance with the Foreign Corrupt Practices Act in China.
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ArticleNewell Brands facing SEC subpoena over sales, accounting practices
Newell Brands disclosed in a regulatory filing it is facing a Securities and Exchange Commission subpoena over its sales and accounting practices, particularly related to the impairment of goodwill and other intangible assets.
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ArticleFour ways to make sanctions more effective
Sanctions make an impact, but could they be better? Can they be better employed and more effective in achieving their aims?
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ArticleCFPB’s leadership structure, SEC’s authority on SCOTUS docket this week
The Supreme Court will hear arguments this week in cases that question whether the current structure of the CFPB is constitutional, and whether to curb the SEC’s power to return funds to fleeced investors.
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ArticleAccountant pleads guilty in DOJ Panama Papers probe
A U.S-based accountant who was charged alongside three others for their alleged roles in a decades-long criminal scheme perpetrated by Panama-headquartered law firm Mossack Fonseca and related entities has pleaded guilty.
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ArticleCompliance lessons from Cardinal Health’s FCPA settlement
Cardinal Health reached an $8.8 million settlement with the SEC for violations of the FCPA concerning the operations of its former Chinese subsidiary. For prudent compliance officers, it’s a tale of how not to do business in China.
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ArticleFCC proposes fines against T-Mobile, AT&T, Verizon, Sprint
The FCC proposed fines against the four largest wireless carriers in the United States for allegedly selling access to their customers’ location information without taking reasonable measures to protect against unauthorized access.
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ArticleFASB agenda on hold amid chair transition
Outgoing FASB Chair Russell Golden said at a Financial Accounting Foundation meeting this week the rulemaker will look to get his successor, Richard Jones, settle before determining its second-quarter agenda.
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ArticleCalifornia AG seeks federal data privacy legislation modeled on CCPA
In a letter to Congressional committee leaders, California Attorney General Xavier Becerra suggests any federal data privacy law should still allow states to have parallel enforcement authority as well as their own laws.
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Pier 1 Imports quietly names new general counsel; files for bankruptcy
Without any official announcement, Pier 1 Imports has named Ray McKown as its new general counsel and corporate secretary, days before the home furnishings and decor company filed for bankruptcy.
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ArticleThree former Barclays execs acquitted of fraud charges
The Serious Fraud Office suffered another major setback in the U.K.’s first trial against bank executives for misconduct during the 2008 financial crisis, after three former executives of Barclays were acquitted of fraud charges.
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ArticleSix compliance lessons from Wells Fargo’s really bad week
Two more settlements reached by Wells Fargo with regulators in the span of a week impart yet more “what not to do” ethics and compliance lessons.
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ArticleSEC hands out largest whistleblower award in nearly a year
The Securities and Exchange Commission announced the award of more than $7 million to a whistleblower who provided “extensive and ongoing assistance” during the course of an investigation.
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ArticleESG at the vanguard of company objectives in 2020
According to the latest research, 2020 may be the year when corporations finally embrace environmental, social, and governance initiatives.
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ArticleBenchmarking report: New lease accounting rules having seismic effect on balance sheets
In LeaseQuery’s first benchmarking analysis of lease liabilities, it found balance sheet liabilities increased nearly 16 times as operating leases came onto the balance sheet for the first time upon adoption of ASC 842.