Articles | Compliance Week – Page 209
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E2open completes Amber Road acquisition
E2open, a supply chain software solutions provider, announced the completion of its previously disclosed acquisition of Amber Road.
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ArticleCFTC issues joint $2M whistleblower award
The Commodity Futures Trading Commission announced on July 1 an award of $2 million to two “model whistleblowers” who provided the agency with “significant information” that prompted the CFTC to open an investigation.
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ArticleBDO shows improvement in latest PCAOB inspection
The PCAOB says it found fault with 39 percent of the audits inspected at BDO USA in 2017 – the firm’s first time with a deficiency rate below 50 percent since 2011.
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ArticleFASB proposes small changes to CECL standard
FASB has issued a proposed revision to the CECL standard to address a handful of implementation questions as companies prepare for the new accounting.
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ArticleWhy CEOs today must be change leaders for social issues
The Wayfair walkout represents just the latest high-profile example of how social and policy issues continue to spill into the corporate ethics and compliance realm.
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Amid investigation, Nordea names chief compliance officer
Scandinavia’s biggest banking group, Nordea, has appointed Helene Jepson as chief compliance officer and head of group compliance.
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ProcessUnity updates Risk and Compliance platform
ProcessUnity, a provider of cloud-based applications for risk management, launched the latest version of its Risk and Compliance platform.
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House moves to cut funding for SEC’s Regulation Best Interest
Joining the growing discontent with the SEC’s Regulation Best Interest, Democrats in the House of Representatives have passed legislation that could starve the quasi-fiduciary standard for investment advice of funding.
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State Street to pay $88.8M for mutual fund overcharges
State Street will pay $88.8 million to resolve charges with the SEC that it overcharged mutual funds and other registered investment company clients for expenses related to the firm’s custody of client assets.
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ArticleFTC expands scope of data security compliance requirements
The FTC is turning up the heat on the data security compliance requirements companies must meet in the event of an enforcement action following a data breach.
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UBS compliance officer convicted of insider trading
A London Southwark Crown Court jury on June 27 convicted two individuals—a senior compliance officer of UBS and a day trader of financial securities—and sentenced them to three years’ imprisonment for insider trading.
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ArticleYet another misstep by Danske results in firing of interim Danish CEO
Danske Bank has been forced to fire yet another board member—this time for mis-selling thousands of customers a wealth management product that charged excessive fees.
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ArticlePublic register pros trump cons
Harvard Law School’s Eli Goldston Professor of Law Matthew Stephenson discusses the benefits of public registers.
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ArticleNo proof in public register value
Consultant and independent director Geoff Cook offers evidence on why public registers are still lacking.
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Merrill Lynch to pay $25M to settle metals ‘spoofing’ claims
Merrill Lynch Commodities will pay a combined $25 million to resolve a government investigation into a multi-year scheme to mislead the market for precious metals futures contracts.
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Compliance lessons from Technip’s $301.3M global foreign bribery settlement
TechnipFMC and its wholly owned U.S. subsidiary Technip USA will pay a combined $301.3 million settlement to resolve foreign bribery charges with authorities in the United States and Brazil.
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FedEx sues Feds over export control burdens related to Huawei dispute
Shipping giant FedEx is suing the federal government in an effort to reverse what it says are impossible to achieve compliance burdens imposed by the Department of Commerce.
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ArticleCFTC issues reduced whistleblower award of $2.5M
The Commodity Futures Trading Commission has awarded a whistleblower $2.5 million for assisting it in an investigation, but the award could have been larger if the report was made sooner, the CFTC said.
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Facebook exec echoes calls for regulation
One of Facebook’s top executives added his voice to the growing movement among technology firms that the sector cannot police the internet on its own.
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CAQ governing board elects new leadership
The governing board of the Center for Audit Quality (CAQ) has elected EY’s Kelly Grier and BDO’s Wayne Berson as its chair and vice chair, respectively.