Appointment Blogs | Compliance Week – Page 126
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Report: STOCK Act ‘curtailed stock trading’ by Senators
“The STOCK Act has dramatically curtailed overall stock trading activity by U.S. senators,” says Public Citizen. Its new report cautions, however, that “many still trade in corporations they oversee in their official capacity.”
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President nominates first-ever regulatory watchdog for Fed
President Trump has nominated Randal Quarles, a former official at the Treasury Department, as a member of the Board of Governors, filling a long-vacant role as the Fed’s regulatory watchdog.
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House bill is latest effort to rewrite fiduciary rule
While the Department of Labor sputters along with efforts to rescind its fiduciary duty rule for brokers, House Republicans are taking matters into their own hands.
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Rao confirmed as Trump Administration’s ‘regulatory czar’
The Senate has confirmed Neomi Rao, a professor at the Antonin Scalia Law School at George Mason University, to a top position at the Office of Information and Regulatory Affairs.
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RBS reaches $5.5B settlement with FHFA
The Federal Housing Finance Agency, as conservator of Fannie Mae and Freddie Mac, today reached a $5.5 billion settlement with Royal Bank of Scotland Group alleging violations of federal and state securities laws in connection with private-label residential mortgage-backed securities trusts purchased by Fannie Mae and Freddie Mac.
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GOP turns to Congressional Review Act for killing arbitration rule
Within hours of the CFPB issuing a new rule banning the mandatory use of arbitration agreements, Republicans threatened to rescind it using the Congressional Review Act.
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Shell companies in the U.S.—beginning of the end?
The Man From FCPA explores the issues surrounding shell companies and, in particular, money laundering enforcement.
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Of Barclays and DPAs
Is Barclays too big too jail? Tom Fox explores the banking giant’s involvement in the bailout scandal during the 2008 financial crisis.
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Don’t speak at anti-corruption event, then demand a bribe payment
Well, that’s awkward. A look at the ironic case of Colombia’s top anti-corruption prosecutor, who was arrested in Miami for attempted corruption through extortion of a criminal defendant.
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CFPB unleashes new arbitration rule
The CFPB’s efforts to ban mandatory arbitration clauses are now realized with a new rule, reopening a path to class-action lawsuits for aggrieved consumers of financial services.
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New transparency rolls out in Form AP audit filings
Here’s a call to attention for audit committees. Audit regulators are rolling out a powerful new gift that will help you assess the quality of your external audit.
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International partners join forces to tackle grand corruption
A new multinational centre to coordinate law enforcement action against grand corruption was launched this month. The International Anti-Corruption Coordination Centre (IACCC), hosted by the U.K.’s National Crime Agency, brings together specialist law enforcement officers from multiple jurisdictions into a single location to tackle allegations of grand corruption.
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OCC report highlights evolving risks
The Office of the Comptroller of the Currency has released its latest assessment of the strategic, credit, operational, and compliance risks that are top and evolving concerns for the federal banking system.
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IMA's updated guidance tells accountants to be ethical
The Institute of Management Accountants has issued new guidance reminding members of the most basic behavior they should embrace. Be ethical.
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G20 to intensify fight against corruption
Leaders of the G20 met over the weekend to address major global economic challenges. On the agenda: a pledge to make their public administrations more resilient against corruption, ensuring that both companies and individual perpetrators are held to account.
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TSG names chief compliance officer
TSG Consumer Partners, a private equity firm focused exclusively on the branded consumer sector, has named Jessica Duran chief compliance officer.
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Home Capital Group names chief risk officer
Home Capital Group has named David Cluff as executive vice president, enterprise risk management and chief risk officer, effective immediately. He replaces Greg Parker, who has been named to the newly created role of executive vice president, strategy.
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World Bank sanctions CDM Smith
CDM Smith has been sanctioned by the World Bank for failing to disclose a sub-consulting agreement for a project in Vietnam.
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AICPA proposes valuation framework for financial instruments
The accounting profession is looking to raise the bar again on valuations that underpin financial statement assertions with a proposed new framework.
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Walter Shaub, Bitcoin, and IPOs
In case you missed it, Ethics Office Director Walter Shaub resigned after differences in opinion with the administration, bitcoin offers evaders new tax havens after the Panama Papers leak, and IPO regulations are taking the spotlight in this week's rundown of compliance news from around the web.