Articles | Compliance Week – Page 165
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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.
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ArticleSEC rips Wells Fargo’s ETF compliance efforts in $35M settlement
Already reeling from last week’s $3 billion penalty related to its fake accounts scandal, Wells Fargo took another hit Thursday in the form of a $35 million SEC settlement related to poor supervision of investment recommendation practices.
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LendingClub poaches chief risk officer from Uber
LendingClub Corp., America’s largest online lending marketplace, announced the appointment of Annie Armstrong to serve as chief risk officer.
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Six Flags discloses new general counsel
Theme park operator Six Flags Entertainment Corp. announced the appointment of Laura Doerre as executive vice president and general counsel in a recent filing with the SEC.
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Nutanix appoints chief accounting officer
Software firm Nutanix announced the appointment of Aaron Boynton as chief accounting officer to scale its global accounting function and oversee all financial reporting and compliance efforts.
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Guaranteed Rate hires chief risk officer
Guaranteed Rate, one of the largest retail mortgage lenders in the nation, announced the appointment of industry veteran Joseph Grassi as chief risk officer.
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Krystal Biotech adds accounting chief; CFO resigns
Gene therapy company Krystal Biotech announced the appointment of Kathryn Romano as chief accounting officer.
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Workiva tabs general counsel
Compliance solutions provider Workiva announced the company’s board of directors has named Brandon Ziegler as senior vice president and general counsel, effective March 16.
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IntSights adds veteran CCO
Threat intelligence firm IntSights announced Chris Strand has joined its executive team as chief compliance officer to continue building out the company’s cyber-compliance initiative.