Articles | Compliance Week – Page 276
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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.
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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.
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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 ...
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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 ...
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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.
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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.
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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.
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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.
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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.
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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.
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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 ...
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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.
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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.
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FASB simplifies Topic 718 of the Accounting Standards Codification
Preparers have long wanted a simpler, easier, better kind of GAAP, especially when it comes to accounting for stock options and other share-based payments. Now, says CW’s Tammy Whitehouse, it looks like they are getting their wish.
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Investment companies prepare for fresh wave of cyber-scrutiny
Armed with Regulation S-P—the SEC’s go-to enforcement tool for cyber-security—regulators will soon begin a fresh wave of actions against investment advisers and broker-dealers who take a cavalier approach to their cyber-security responsibilities. Joe Mont reports.
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Carrots and sticks: A closer look at the FCPA Pilot Program
The Department of Justice has churned out a brief, but valuable, piece of guidance setting forth the details of a one-year FCPA enforcement pilot program, providing companies with much needed and long-awaited transparency into how the Criminal Division’s Fraud Section measures and credits voluntary self-disclosure and cooperation in FCPA investigations. ...
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Is the French governance code about to become more shareholder-friendly?
Image: French financial markets regulator Autorité des Marchés Financiers has issued a report comparing countries’ various corporate governance codes, and it looks as if France has some work to do. While the AMF won’t be rewriting France’s code, says spokeswoman Christèle Fradin, it would like their suggestions taken into account, ...
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Market shifts, SEC priorities spark debate of FINRA’s future
Changes may be afoot at the Financial Industry Regulatory Authority as Congress and others ponder whether its duties should expand, compress, or just be folded into the Securities and Exchange Commission. Amid the debates one thing is clear: FINRA is doubling down on its enforcement efforts.
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To be a great internal auditor, be a great communicator
For internal audit leaders to deliver the most value to their audit committees, they need to develop a suite of skills that are not always stressed as being part of the audit profession. But without great communication and presentation skills to present their findings, auditors can’t be truly great at ...
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Unaoil bribery scandal offers harsh lesson in due diligence controls
Image: CCOs can learn a lesson or two from the massive media-leaked bribery and corruption scandal surrounding Monaco-based Unaoil. “Unaoil’s due diligence reports contained a number of items that increased their risk level substantially, but there was no credible evidence of bribery or other misconduct,” says Alexandra Wrage, president of ...