Appointment Blogs | Compliance Week – Page 151
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VW: Fraud at the top?
More bad news for Volkswagen, as German authorities have expanded their investigation to 37 individuals from 21, including former CEO Martin Winterkorn. Tom Fox reports.
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Two former Och-Ziff executives charged with FCPA violations
The Securities and Exchange Commission last week charged two former executives at Och-Ziff Capital Management Group with being the driving forces behind a far-reaching bribery scheme that violated the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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FASB kills burdensome goodwill impairment test
FASB has finalized its action to eliminate “step two” from goodwill impairment testing, relieving public companies of the costly, complex fair-value exercise. More from Tammy Whitehouse.
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The optics couldn’t be worse—VW departs its CCO
Barely a year after Christine Hohmann-Dennhardt took the position of head of compliance at Volkswagen, she is leaving the company. The Man From FCPA Tom Fox reports.
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Grapevine: Who’s coming and going in compliance
The Depository Trust & Clearing Corporation; Goldman Sachs; CIT Group; Klingenstein Fields Wealth Advisors; and True Health Diagnostics all have new compliance officers. In other news, TBC Bank Group has a new chief risk officer. Check out the CW Grapevine for the latest personnel moves.
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NLRB, FTC, and CFTC have new leadership
President Donald Trump has named Philip Miscimarra acting chairman of the National Labor Relations Board, the first step in what observers see as a shift back to more management-friendly policies and rulings. Joe Mont reports.
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Western Union settlement is a stern warning about AML compliance
If you need further proof of how costly failed AML and BSA compliance can be, writes Joe Mont, look no further than a the $586 million settlement Wester Union was just hit with.
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Goldman Sachs names global head of compliance
Goldman Sachs Group has appointed Sarah Smith as global head of compliance. She will assume the role from Alan Cohen, who is stepping down.
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CIT Group names chief compliance officer
CIT Group, a provider of commercial lending and leasing services, has appointed Paul Tufaro as chief compliance officer, effective immediately. He will report to Executive Vice President and Chief Risk Officer Robert Rowe.
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TBC Bank Group names chief risk officer
TBC Bank Group, together with its subsidiary JSC TBC Bank, has appointed David Chkonia to the management board of TBC Bank as chief risk officer and deputy CEO with immediate effect.
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KFWA names chief compliance officer
Klingenstein Fields Wealth Advisors, a wealth management firm with more than $3 billion in assets under management, has promoted Maria Chambers to chief compliance officer.
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True Health Diagnostics appoints new chief compliance officer
True Health Diagnostics, a health services company, has appointed Robert Rossi as senior vice president and chief compliance officer.
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DTCC appoints compliance chief
The Depository Trust & Clearing Corporation, a post-trade market infrastructure for the global financial services industry, has appointed Derek West as executive director and chief compliance officer for the firm’s European Global Trade Repository (GTR) business.
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NIST seeks comment on cyber-security framework update
A leading framework for addressing cyber-security is getting an update, and the National Institutes of Standards and Technology is looking for input. Tammy Whitehouse reports.
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Sports Direct does it again
Keith Hallawell, chairman of embattled U.K. retailer Sports Direct, has said if he did not get the backing of independent investors, he would resign. He didn’t, and he hasn’t. Paul Hodgson reports.
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AICPA sets target to review revenue recognition issues
The AICPA is targeting the end of the first quarter to reach initial consensus to the last batch of a vast assortment of revenue recognition questions.
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China continues to be a source for FCPA violations
An astounding 16 corporate FCPA enforcement actions in 2016 were derived from China, leading The Man From FCPA Tom Fox to explore how to tackle business relationships with the complex country.
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Combatting fraud is ‘serious business’ at the SFO
DeAnn Orie looks at how companies can fall under the watchful eye of the Serious Fraud Office and what the agency is doing to keep on top of crime.
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Anything of value really means anything
Tom Fox explores recent cases that fall under the FCPA “anything of value” standard, including JPMorgan Chase, Rolls-Royce, VimpelCom, and Qualcomm.
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Podcast: Oh, Canada...and compliance resources
In this edition of the Compliance Week podcast, we talk to Ellen Zimiles, a managing director at Navigant Consulting, about governance enhancements in Canada that allow CCOs to report their companies for not giving them enough budget to be effective.