Appointment Blogs | Compliance Week – Page 156
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Odebrecht, Braskem to pay record $3.5B in global bribery case
Global construction company Odebrecht, based in Brazil, and Brazilian petrochemical company Braskem pleaded guilty yesterday and agreed to pay a combined total penalty of at least $3.5 billion—the largest foreign bribery case in history, according to the U.S. Department of Justice. Jaclyn Jaeger has more.
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Trump adds Icahn as a regulatory hatchet man
President-elect Donald Trump has added investor activist Carl Icahn to his transition team as a special adviser on issues relating to regulatory reform. Joe Mont has more.
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NY delays cyber-security rules for banks, will revise requirements
New York’s Department of Financial Services has delayed implementation of its new cyber-security rules for banks and plans to announce changes to the requirements next week. Joe Mont explores.
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Some plan to dig into leases in 2017, some not so much
The latest poll on big accounting change says some companies are making plans to devote time in 2017 to the new requirements around lease accounting, according to Tammy Whitehouse.
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Unisys Stealth helps companies fight cyber-crime
Unisys, a global information technology company, has announced the launch of Stealth(aware), a new Unisys Stealth software application that helps companies in the fight against cyber-crime.
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New senior managing director joins Ankura
Ankura Consulting Group, a business advisory and expert services firm, has appointed Steven Richards as senior managing director. Based in the firm’s Washington, D.C. office, Richards will practice within Ankura’s Investigations & Accounting Advisory group.
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SEC charges two companies in whistleblower cases
For the first time ever, the SEC yesterday charged a company for retaliating against an internal whistleblower. It also marks the second enforcement action this week against a company that impeded an employee from communicating with the SEC. Jaclyn Jaeger reports.
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Forest Labs to pay $38M for False Claims Act violations
Forest Laboratories and its subsidiary, Forest Pharmaceuticals, have agreed to pay $38 million to resolve allegations that they violated the False Claims Act by paying kickbacks to induce physicians to prescribe its drugs. Jaclyn Jaeger has more.
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AICPA objects to naming partners on benefit plan audits
The accounting profession is objecting to proposed changes to employee benefit plan reporting, especially requiring the name of the engagement partner on plan audits. More from Tammy Whitehouse.
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No, Bill, there is no Santa Claus
Like any business, journalism is susceptible to ethical failures. But for a profession predicated on telling the truth, the problem is existential. Bill Coffin has more.
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Laureate Education launches FCPA probe into charitable donation
Laureate Education, a for-profit higher education institution, said that it is conducting an internal investigation into possible violations of the U.S. Foreign Corrupt Practices Act concerning an $18 million donation that one of its network institutions made in Turkey to a charitable foundation. Jaclyn Jaeger has more.
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Comprehensive Health Services names chief compliance officer
Comprehensive Health Services, a medical services provider, has appointed Patrick Hogenbirk as senior vice president and chief compliance officer.
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When the regulators fail
Tom Fox looks at an untapped area of concern with the Volkswagen emissions scandal: Why did no EU regulator catch on earlier?
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Study shows effects of whistleblowers on enforcement
The Man From FCPA Tom Fox explores a recent academic study that found a link between information provided by whistleblowers and “heightened enforcement outcomes.”
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The routineness of non-compliant conduct
Tom Fox explores a new book entitled “Why They Do It” from Eugene Soltes, the Jakurski Family Associate Professor of Business Administration at Harvard Business School, which shows a certain “mundaneness” to white-collar crime.
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Kennametal names secretary and general counsel
Kennametal, a supplier of tooling and industrial materials, has appointed Michelle Keating as secretary, and general counsel. In this role, she will be responsible for global legal operations, and ethics and compliance.
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Chipotle shakes up board with four new directors
In response to investor criticism that it did not respond fast enough to an E. coli outbreak last year, fast-food chain Chipotle announced today that it has named four new members to its board of directors, effective as of Dec. 14.
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Bookending post-crisis rules, Fed mandates long-term debt holdings
To improve resiliency and eliminate taxpayer bailouts, the Federal Reserve has approved new long-term debt and “total loss-absorbing capacity” requirements for big banks. Joe Mont reports.
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SEC approves support fee increase to fund PCAOB budget
The accounting support fee that public companies and broker-dealers pay to support audit regulation will rise in 2017 by about 6 percent, based on the PCAOB’s budget. Tammy Whitehouse has more.
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Compliance has become the heart of the business
Compliance has taken center stage in investors' eyes according to Tom Fox. Large institutional investors are beginning to evaluate companies by considering a mix of metrics, such as regulatory warnings, tangential civil lawsuit, and social responsibility. Fox has more.