Appointment Blogs | Compliance Week – Page 154
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REIT industry shows lackluster board diversity
Compared to the S&P 500 or the FTSE 100, the REIT industry has a long way to go when it comes to promoting board diversity, writes Paul Hodgson.
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Mondelez International to pay $13M in FCPA case
Mondelez International, a beverage and snack-food company, has agreed to pay $13 million in civil penalties to the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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Second VW exec arrested: those pesky e-mails
As the recent arrest of another VW executive (this time in the United States) unfolds, The Man From FCPA Tom Fox ponders whether VW will actively assist U.S. law enforcement authorities in performing a substantive internal investigation.
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SEC issues $5.5 million whistleblower award
The SEC has awarded more than $5.5 million to a whistleblower who provided critical information that helped the SEC uncover an ongoing scheme. Jaclyn Jaeger reports.
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White plugs for accounting convergence in parting statement
Outgoing SEC Chair Mary Jo White is urging her successor to prioritize continued improvement and convergence of accounting standards globally. Tammy Whitehouse has more.
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Going concerns fall in 2015, but not due to better financials
Going concern filings appear to have tapered off in 2015, but that doesn’t necessarily mean public company balance sheets are getting healthier. More from Tammy Whitehouse.
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FinCEN gives guidance on sharing SARs
The Financial Crimes Enforcement Network has clarified when a casino can share Suspicious Activity Reports and to whom it can provide the information. Joe Mont reports.
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OCC details top bank risks, stresses compliance
The Office of the Comptroller of the Currency reports that strategic, credit, operational, and compliance risks remain top concerns for banks and other financial institutions. Joe Mont explores.
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FINRA details 2017 examination priorities
The Financial Industry Regulatory Authority has released its annual “Regulatory and Examination Priorities Letter,” an overview of areas it plans to focus on in 2017 exams. More from Joe Mont.
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CFTC chairman tenders post-election resignation
Timothy Massad, chairman of the Commodity Futures Trading Commission, has announced his departure from the agency, effective Jan. 20.
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Greek authorities raid Novartis offices in bribery probe
Novartis is facing a fresh bribery probe, this time in Greece, where authorities there have raided the company’s offices searching for electronic documents and files. Jaclyn Jaeger reports.
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The Odebrecht enforcement action—the aftershocks
Have you been doing business with corruption-plagued Odebrecht? Better conduct a thorough internal investigation to ascertain if there are any red flags indicating suspicious payments, writes Tom Fox.
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Technology, compliance, and the breakdown of corporate silos
The Man From FCPA Tom Fox explores the recent Foreign Corrupt Practices Act enforcement action involving General Cable Corp. and its implications for a technology-driven compliance world.
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Michael Lewis’ ‘The Undoing Project’ and compliance
The Man From FCPA Tom Fox offers his take on the most recent Michael Lewis book, “The Undoing Project, A Friendship That Changed Our Minds,” which—Fox says—“should be studied by every compliance professional for its insights into how the human mind works.”
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PCAOB’s reorganized auditing standards rule book takes effect
Now that the calendar has turned to 2017, auditors will be following a new nomenclature with respect to citing auditing standards after a reorganization of the rules has taken effect. Tammy Whitehouse reports.
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President-elect Trump picks his SEC chairman
President-elect Donald Trump has announced the nomination of Jay Clayton to replace current Chairman Mary Jo White at the conclusion of her term. Clayton is currently a partner with Sullivan & Cromwell. Joe Mont has more.
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CFPB highlights debt collection complaint statistics
With a slate of rules targeting the industry in the pipeline, the Consumer Financial Protection Bureau has released a tally of consumer complaints related to debt collection. More from Joe Mont.
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Banks reach final resolutions under Swiss Bank Program
The Department of Justice last week announced that it has reached final resolutions with banks that have met the requirements of the Swiss Bank Program, which provided a path for Swiss banks to resolve potential criminal liabilities in the United States, and to cooperate in ongoing investigations of the use ...
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PCAOB publishes views on conflict with China rules
To address how U.S. audit rules intersect with those in China, the PCAOB has published a four-page Q&A to explain its views on why firms subject to its rules should observe them. Tammy Whitehouse reports.
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Another Infosys chief compliance officer abruptly departs
Infosys Limited announced that David Kennedy, general counsel and chief compliance officer, and the company have mutually agreed that Kennedy’s employment with the India-based software giant will cease on Dec. 31, 2016.