Articles | Compliance Week – Page 275
-
Article
CCOs feeling the heat of regulatory scrutiny
The threat of increasing personal liability has compliance officers on the defensive, especially in light of the newly established compliance counsel role within the Department of Justice’s Fraud Section. Jaclyn Jaeger looks into how CCOs are dealing with this intensified level of direct scrutiny on their performance.
-
Article
Regulators walk a tightrope when it comes to innovation, disruption
It was once an understood fact of life that regulators are reactive, not proactive, when it comes to rulemaking and industry standards. Now, with disruptive technology and sharing services evolving from quaint ideas to multi-billion- dollar enterprises, some are starting to shake off that reputation, albeit cautiously. Joe Mont has ...
-
Article
New PCAOB audit report raises the question: What exactly is a ‘critical audit matter’?
As the Public Company Accounting Oversight Board revises its standard, boilerplate audit report, providing a more narrow definition of “critical audit matters” should go a long way toward giving investors better insight into some of the more challenging, subjective, and complex aspects of financial statements. Tammy Whitehouse provides an in-depth ...
-
ArticleThe rules of the road for corporate monitors
Companies facing a corporate monitorship face many questions. How does the process work? What are the rules, not to mention proper etiquette, for having a monitor in your midst for upwards of three years? Joe Mont reports.
-
Article
Seeking to squash mandatory arbitration, CFPB proposal draws praise and venom
The Consumer Financial Protection Bureau is moving ahead with a proposed rule that will prohibit mandatory arbitration clauses. While proponents agree with the Bureau’s assertion that class-action lawsuits provide a more effective means for consumers challenging problematic practices, pro-business groups see the rule as a deathblow for financial services arbitration ...
-
Article
Calls to reform False Claims Act revisited
Is it time to reform the False Claims Act? The answer depends on whom you ask, says Jaclyn Jaeger. Critics argue that it leads to unfair penalties and unjust results for companies; others say it empowers whistleblowers to help the government conquer fraud.
-
ArticleBleeding out: Theranos oozes with corporate governance lessons
A year ago, Theranos was a Silicon Valley health tech “unicorn” praised for breakthrough advancements in blood testing. Now it’s under civil and criminal investigation for defrauding investors. The role Theranos’ board has played in this is already shaping up to be a pointed object lesson for board best practices ...
-
Article
New revenue recognition rules prompt wide variety of adoption strategies
With new revenue recognition rules fast approaching, public companies everywhere are preparing as best they can, but an uncertain future awaits everyone. Tammy Whitehouse looks at what’s behind implementation delays.
-
Article
Is this U.K. Shareholder Spring III?
Amid numerous shareholder revolts at U.K. companies over executive pay, Paul Hodgson examines how, since pay votes became binding two years ago, the shareholders themselves are wasting no time to exercise their power in which might be less of a demonstration and more of a revolution.
-
Article
Banks face continuing parade of new regulations
Even as aftershocks of the Financial Crisis fade, banks continue to face a steady stream of new and evolving regulatory demands. Recent days have been no exception, says Joe Mont, with new demands regarding liquidity, swaps contracts, and a plan to undo the United States’ “see no evil” approach to ...
-
Article
Firms face after-shocks of Labor Department’s fiduciary rule
The Department of Labor’s fiduciary rule for investment advisors has already stirred a firestorm of controversy, but one way or another, says Joe Mont, the financial advisory world is looking at a transformational change in how it operates by next April, with such high stakes that no one may want ...
-
Article
New gold standard for ethics and compliance programs
A first-of-its-kind report issued by the Ethics and Compliance Initiative aims to to provide ethics and compliance officers with a new gold standard for which to develop a high-quality ethics and compliance program. Jaclyn Jaeger looks at five core principles identified in the report.
-
Article
The relentless growth of non-GAAP reporting is a problem
The use of non-GAAP reporting has ebbed and flowed over the years, but a recent increase in the practice is starting to raise questions as to whether or not the SEC will have to get involved before things get out of hand. Tammy Whitehouse reports.
-
Article
Experts talk on boosting hotline effectiveness
A recent hotline analysis from NAVEX Global has identified ways in which companies could improve their helpline programs, including shortening the median case closure time. Karen Kroll provides an in-depth look at the results.
-
Article
How not to be sanctioned by the World Bank
Justice Dept. enforcement actions for anti-corruption law violations often garner the most attention, but multilateral development banks are also major players in the anti-corruption global arena, adding more compliance risk. CW’s Jaclyn Jaeger on how to avoid being sanctioned.
-
ArticleSEC’s massive database plan starts to take shape
The SEC’s Consolidated Audit Trail initiative, which will give regulators a means to efficiently track all trades in real time, has moved one giant step closer to reality with a call for public comments. But what will its final form look like? Joe Mont offers a closer look.
-
Article
Time to revise your employee training and policies
New regulations passed in California require stringent new standards governing the prevention of harassment, discrimination, and retaliation in the workplace. What’s more, says reporter Jaclyn Jaeger, they appear to mirror a broader regulatory trend at the federal level.
-
ArticlePreparing your company for a dawn raid
Knowing what to expect in the event of a dawn raid and how to respond will help ensure not only that employees cooperate during an investigation, but also that the legal rights of the company remain protected. Jaclyn Jaeger explores how to avoid any missteps that can damage a company’s ...
-
Article
European Parliament opinion could delay Privacy Shield approval
An EU-U.S. privacy protection standard is supposed to gain approval in June, but concerns—namely with the U.S.’s ongoing surveillance efforts and mass data collection—could delay approval, leaving thousands of companies that rely on cross-border data transfers in legal limbo. David Bogoslaw explores.
-
Article
SEC plunges deeper into disclosure reform
Improving, modernizing, and perhaps even simplifying the SEC’s disclosure regime has long been the Holy Grail of securities law. And while help may be on the way with the SEC’s new Concept Release, reports Joe Mont, plenty of debate is sure to follow.