Articles | Compliance Week – Page 230
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ArticleRegulators challenged by same tech advances that could benefit them
A new report by Deloitte looks at how regulators can leverage new technologies to increase their efficiency and effectiveness, all while reducing business compliance costs.
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ArticleHempel resolves bribery case with European authorities for $33.3M
Global coatings manufacturer Hempel has reached a settlement with Danish and German authorities and agreed to a fine of 220 million Danish krone (U.S. $33.3 million) concerning bribery payments made to ship managers in Germany.
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An inside look into the FBI’s Office of Integrity and Compliance
Catherine Bruno, assistant director of the FBI’s Office of Integrity and Compliance, discusses the division’s current initiatives and plans for the future.
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Brexit: 'No-deal' option rejected; delay vote coming
A day after voting down Prime Minister Theresa May’s proposed Brexit deal for the second time, the U.K. Parliament voted Wednesday to reject leaving the European Union without a deal by a 321-278 margin.
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ArticleMy Compliance Library: How to create a ‘Fearless Organization’
Richard Bistrong explains how Amy C. Edmondson’s book on organizational health relies on the idea that employees are not governed by fear, but rather empowered by a safe environment that embraces honesty and candor.
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ArticleSEC’s Peirce supports reconsideration of SOX 404(b)
As internal control heartburn persists for many public companies, at least one member of the SEC would welcome changes to the Sarbanes-Oxley Act.
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U.K. government unveils reform plan for modern work practices
In response to a July 2017 review of modern working practices, the U.K. government has issued a long-awaited package of legislation, regulation, and reforms. The “Good Work Plan” sets out seven principles to address challenges facing the U.K. labour market.
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Critics scrutinize plans for revised Volcker Rule
Proposed rulemaking to ease the compliance burden of the Dodd-Frank Act’s controversial Volcker Rule might not be enough to appease everyone.
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Covidien to pay $17.5M for False Claims Act violations
Covidien has agreed to pay $17.5 million for violations of the False Claims Act by providing free or discounted practice development and market development support to physicians in California and Florida to induce purchases of Covidien products, the Department of Justice announced.
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ArticleFormer KPMG, PCAOB leaders convicted on fraud counts
A former KPMG audit leader and a former inspections leader at the PCAOB have been convicted of wire fraud in a scheme to subvert the inspections process.
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ArticleNew, tough regulator to oversee U.K. audit
The U.K. Financial Reporting Council will soon be replaced by a new regulator acting on recommendations from Sir John Kingman of the London Stock Exchange. The government hopes to ensure the United Kingdom going forward has “a world-class audit and accounting regulator.”
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BB&T Securities to pay $5.7M for misleading clients
BB&T Securities has reached a $5.7 million settlement with the Securities and Exchange Commission to settle charges that a firm it acquired misled its advisory clients.
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Presidential hopeful Warren pitches Big Tech breakups
Sen. Elizabeth Warren (D-Mass.), among the ever-growing field of Democrats running for President, might not see much support from Silicon Valley. She is proposing a breakup of Big Tech firms she feels are stifling competition.
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ArticleCFTC issues enforcement advisory on self-reporting and cooperation
The Commodity Futures Trading Commission Division of Enforcement has issued an enforcement advisory that provides clarity concerning the benefits of self-reporting and cooperation related to violations of the Commodity Exchange Act involving foreign corrupt practices.
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Swedbank faces scrutiny over money laundering allegations
Legal pressure against Stockholm-based Swedbank, one of several banks at the center of a massive money laundering scandal, continues to escalate.
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A glimpse into the Department of Justice’s ethics and compliance operations
Deputy Attorney General Rod Rosenstein in public remarks this week provided a glimpse into how the Department of Justice conducts its own ethics and compliance operations.
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Deloitte wins, other Big Four firms lose audit clients in 2018
Deloitte led Big Four firms in picking up new audit engagements in 2018, while KPMG lost the largest number overall, according to the latest analysis.
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Elevate appoints chief risk officer
Elevate Credit, a tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, has promoted Kathleen Vanderkolk to chief risk officer.
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Duke Energy appoints new board member
Duke Energy’s board of directors has appointed Marya Rose to its board, effective March 1. She joins both the compensation committee and the regulatory policy and operations committee.
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Diamondback Energy announces series of leadership changes
Diamondback Energy, an independent oil and natural gas company, recently announced a series of leadership appointments and promotions that took effect March 1, including the appointment of a new chief accounting officer.