Articles | Compliance Week – Page 193
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GE rails against new whistleblower allegations of fraud
GE picks apart new whistleblower allegations of $38 billion accounting fraud. “Market manipulation—pure and simple,” says Chairman and CEO Larry Culp.
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European Central Bank announces data breach
The European Central Bank announced unauthorized parties breached the security measures protecting its Banks’ Integrated Reporting Dictionary (BIRD) Website, which is hosted by an external provider.
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Capital One hacker may have targeted dozens more
It appears Capital One may be just one in a long list of companies and organizations to be victimized by what now appears to be the inner workings of a serial hacker, in what the Department of Justice is calling one of “the largest cyber intrusions and data thefts in ...
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ArticleFed study minimizes lending, volatility concerns of CECL
A new analysis out of the Federal Reserve suggests concerns over the expected economic effects of CECL, the new rule on credit losses, may be overstated.
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Fed wants real-time payments, settlements
The Federal Reserve is making an effort to develop a round-the-clock real-time payment and settlement service.
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Aspen to pay $9.7M to settle U.K. competition concerns
Aspen Pharmacare has offered to pay the U.K.’s National Health Service £8 million (U.S. $9.7 million) following suspicions that the company paid rival firms to delay marketing a vital medicine to retain market dominance.
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ArticleFASB formally proposes accounting change delays, including CECL
FASB is formally proposing major changes to effective dates for several significant accounting standards, including a CECL delay for smaller reporting companies.
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Suspecting illicit assets, British police freeze record $121M
The U.K.’s National Crime Agency announced it has frozen eight bank accounts containing more than £100m (U.S. $121 million), which it suspects derived from bribery and corruption overseas. This represents the largest amount of money frozen to date.
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ArticleData privacy vs. national security: Moving the conversation forward
Data privacy compliance and national security seem to be in opposition—with one coming at the expense of the other. It’s time to instead focus the conversation on identifying opportunities for the private sector and government to collaborate.
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ArticleAsia Pacific compliance: Five tips for practitioners based outside the region
Communicating the variances of Asian regulatory policies could mean the difference between progress or failure. One of our former Top Minds offers companies five tips for avoiding a regulatory disaster within a multinational organization.
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ArticleEpstein lesson: Ignored compliance advice a red flag
The Jeffrey Epstein scandal serves up a cautionary lesson for those who work for companies that put profits over ethics.
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BitSight adds Enterprise Analytics to platform
Cyber risk management firm BitSight announced BitSight Enterprise Analytics, the latest Security Performance Management solution available on the BitSight platform.
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ArticleMarket punishes auditors who flag control issues, study says
Auditors walk a fine line in reporting adverse internal controls, straddling regulators when they fail to flag weaknesses but punished in the market when they do.
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ArticleCFTC files charges over fraudulent binary options trading scheme
The CFTC is pursuing enforcement against five entities and four individuals for engaging in a fraudulent scheme to solicit global customers for the purported purpose of trading illegal, off-exchange binary options.
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Penn State names chief risk officer
Penn State has named Jennifer Santiago as its new assistant vice president of risk management and University risk officer, effective Sept. 12.
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Still under probation, Carnival names chief ethics and compliance officer
Under probation for a history of environmental violations and ordered to restructure its compliance program, Carnival has appointed a new chief ethics and compliance officer as well as a vice president of corporate environmental compliance.
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ArticleRegulatory events coming this fall
Check out information on upcoming events from such regulators as the PCAOB, FDIC, SEC, DOJ, and more.
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ArticleHow GDPR, CCPA impact healthcare compliance
While most healthcare organizations have pretty much nailed down their data privacy requirements for HIPAA and HITECH, new privacy mandates under the GDPR and CCPA could throw a wrench into the system.
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Allscripts $145M settlement indicative of broader enforcement trend
Allscripts Healthcare Solutions has reached a $145 million agreement in principle with the DOJ to resolve civil and criminal investigations into violations of HIPAA and anti-kickback laws.
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ArticleFormer KPMG, PCAOB leader gets prison time in inspections scandal
A former audit inspector and executive director at KPMG was sentenced to eight months in prison after entering a guilty plea related to a scheme to steal inspection plans.