Articles | Compliance Week – Page 210
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World Bank Group debars Sieyuan Electric
The World Bank Group has placed a 15-month debarment on Shanghai-based Sieyuan Electric relating to fraudulent practices under the Inter-Zonal Transmission Hub Project.
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SOX did not end audit opinion shopping, study says
Despite regulatory efforts to make auditors more independent and more skeptical, companies have been able to shop for audit opinions, a new study says.
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FinCEN elaborates on virtual currency risk, obligations
SARs and due diligence are cited as effective tools for avoiding virtual currency malfeasance, says the Financial Crimes Enforcement Network.
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SEC proposes actions to bolster cross-border swap rules
The SEC has proposed a package of rule amendments and guidance for improving the regulation of cross-border swaps transactions.
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SEC amendments could tailor accelerated filer definitions
The Securities and Exchange Commission has voted to propose amendments to the accelerated filer and large accelerated filer definitions.
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Antitrust Division joins Framework on Competition Agency Procedures
The Justice Department’s Antitrust Division has joined the Framework on Competition Agency Procedures as a founding member.
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BHP faces $5B claim over 2015 Brazilian dam collapse
Mining company BHP is facing a $5 billion damages action in the United Kingdom for its alleged negligence in its duty to prevent the Fundão dam collapse in Brazil in 2015.
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Corruption and transparency challenges around the world
The Risk Advisory Group has released its 2019 Corruption Challenges Index, which will give CCOs an idea of the level of corruption in countries where they operate.
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ACL, Rsam rebrand as Galvanize
Software company ACL and recently acquired IT, vendor, and security risk management solutions provider Rsam have rebranded as Galvanize.
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SEC fines Telefônica Brasil $4.13M in World Cup ticket case
Spanish telecom provider Telefônica Brasil received a civil penalty for improperly accounting for tickets and hospitality given to government officials.
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Justice Department: How to receive cooperation credit in False Claims Act cases
New Justice Department guidance details how companies can be rewarded for assisting in a False Claims Act investigation, but it includes some caveats.
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FRC: Auditors must look for fraud
FRC CEO Stephen Haddrill confirmed that during the transition to the new statutory regulator, the Audit, Reporting and Governance Authority, the FRC will remain committed to tackling “deficiencies in audit and reporting quality vigorously.”
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New rule: Companies must reveal drug costs in TV ads
Under a new rule enacted by the Department of Health and Human Services, pharmaceutical companies will soon be required to disclose in television commercials the price of their prescription drugs that cost more than $35 per month.
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Orange to acquire cyber-security firm SecureLink
French multinational telecommunications company Orange announced the signing of an agreement to acquire European cyber-security firm SecureLink for €515m (U.S. $576 million).
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Former SEC Commissioner Kara Stein joins IEX board
Former SEC Commissioner Kara Stein has joined the board of directors of the Investors Exchange.
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CBS initiates new anti-harassment policies
CBS Studios has initiated new policies it says will ensure the network is “a safe, fair, and inclusive place to work.”
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France Telecom execs on trial over employee suicides
The trial has begun for seven former France Telecom executives, who stand accused of implementing a severe cost-cutting regime that resulted in the suicides of dozens of employees.
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CFPB proposes debt collection rule changes
Proposed regulations to renew the Fair Debt Collection Practices Act include unlimited texting and e-mail in collection efforts.
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Commerce slices into Mexican tomato imports
The U.S., mired in a countdown to additional Chinese tariffs, will impose a 17.5 percent tariff on Mexican tomato imports beginning Tuesday. Shortages and spiking prices are predicted.
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Some companies are ready for CECL, some are not
Citigroup raised its expected loan loss reserves under CECL as it prepares for parallel testing of its methodology, but plenty of organizations have barely started.