Appointment Blogs | Compliance Week – Page 144
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CyberGRX unveils third-party cyber global risk exchange
CyberGRX, a third-party cyber-risk management platform provider, recently unveiled a first-of-its-kind cyber risk assessment exchange for sharing third-party security information.
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CFTC extends comment period for new capital requirements
The CFTC will extend the comment period on proposed capital requirements for swap dealers for an additional 60 days. The original comment period was set to expire this week.
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CFPB pitches date extension for prepaid accounts rule
The CFPB is looking to delay the effective date of a recent rule governing prepaid accounts by six months. The rule requires financial institutions to limit consumers’ losses when funds are stolen or cards are lost and resolve errors.
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CFPB levies its largest ever mortgage reporting penalty
With its largest ever penalty under the Home Mortgage Disclosure Act, the CFPB has ordered Texas-based Nationstar Mortgage to pay a $1.75 million civil penalty.
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To combat fraud, check accounting policies, internal controls
In the battle against fraud and restatements, a company’s best allies are strong accounting policies and well-documented internal controls, a new report says.
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LinkedIn co-founder joins Microsoft board
Microsoft appointed Reid Hoffman, co-founder of LinkedIn, to its board of directors, effective immediately. He also will serve on the regulatory and public policy committee.
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Wall Street Blockchain Alliance has new board member
The Wall Street Blockchain Alliance (WSBA), a non-profit trade association at the forefront of blockchain adoption in financial markets, has appointed Julio Faura, head of R&D for innovation initiatives at Banco Santander, to its board of directors.
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SEC approves 2017 GAAP Taxonomy for use in XBRL filings
The SEC has given its final approval to the 2017 GAAP Taxonomy that public companies will use to prepare their XBRL financial statement exhibits.
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Scotiabank names chief risk officer
Scotiabank, Canada's international bank, has appointed Daniel Moore, currently executive vice president and chief market risk officer, as chief risk officer, effective April 3. Moore will succeed Stephen Hart in this role, who is expected to retire after a career spanning almost 40 years.
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Deliberate ignorance and the FCPA
Tom Fox explores the term “conscious avoidance” under the FCPA, specifically in the case of Frederick Bourke, who invested in an enterprise in Azerbaijan that was engaged in bribery and corruption to obtain certain oil and gas rights of which Bourke claimed he had no knowledge.
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Trump nominee pledges ‘new direction’ for CFTC
Acting Commodity Futures Trading Commission Chairman J. Christopher Giancarlo was nominated by President Trump to officially head the agency this week. Awaiting Senate confirmation, he has already detailed bold reforms for the Commission.
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Institute of Directors offers its ideas on navigating Brexit
Handling the heavy lifting of a proper Brexit is going to be no small task, especially since nobody wants a great “vacuum period” between the U.K. Great Repeal Bill and whatever regulations are to follow.
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Trump initiates sweeping overhaul of government agencies
President Donald J. Trump has unveiled a “comprehensive plan for reorganizing the executive branch,” an overhaul of federal agencies intended to cut federal spending and reduce redundancies.
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SEC nominee faces conflict of interest questions
As he prepares to testify before the Senate Banking Committee on March 23, President Trump’s pick to serve as SEC chairman is facing questions about potential conflicts of interest he may face.
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Another Goldman Sachs alumni nominated for top Treasury post
With Secretary of the Treasury Steve Mnuchin now in place, the Trump Administration is looking to add another Goldman Sachs executive to a top post at the Treasury Department. James Donovan, a managing director at Goldman Sachs, has been nominated as deputy secretary.
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FASB finalizes change, proposes another to compensation rules
The FASB is making inroads on more accounting change around compensation with a new standard for retirement benefits and a new proposal around stock compensation.
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Cheques and balances
Sir Philip Green made a deal to pay two-thirds of his former company’s pension deficit last month to keep his reputation intact. But there’s not a lot to be thankful for.
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Samsung enhances transparency over financial donations
Amid an investigation over bribery claims involving some of its top executives, Samsung Electronics recently announced a series of measures it intends to take to bring greater transparency and accountability in managing financial donations and monetary support for corporate social responsibility-related activities and funds.
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Ethical questions from running
Tom Fox explores the case of new light-weight Nike footwear, scheduled to be released in June, which may violate standards set forth by the International Amateur Athletic Federation.
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Haiti Teleco—the sordid affair nears an end
The sordid 2011 Haitia Teleco matter may finally be winding down, as the last player was arrested in February for his involvement in payments of more than $1.4 billion to Haiti Telco representatives.