Appointment Blogs | Compliance Week – Page 203
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Experts advise companies to brace for goodwill impairment scrutiny
Image: Calcbench, with their research tool powered by XBRL-gathered financial statement data, identified a number of companies posting quarterly goodwill impairments in the range of $250 million for five consecutive quarters, including Yahoo’s massive $4.46 billion impairment charge. “The total number … is trending up, from the mid-teens last year ...
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Petrobras fallout into the private sector continues
A 19-year prison sentence handed down in connection with Brazil’s widening “Car Wash” scandal is a wake-up call for any company that has done business with Odebrecht SA, the largest construction company in Brazil and, indeed, South America. The scandal, which began with energy firm Petrobras, should enforce that it’s ...
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The cost of integrity
Image: At the Global Ethics Summit, GE General Counsel and SVP Alex Dimitrief talked about what it means to promote a culture of integrity and the true costs of ethical lapses. When a business goes astray, it’s not a call for added workflows or approvals, he said. It’s a sign ...
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Global risks driving transformational change
As risk management in general improves, we are seeing more CEOs embracing risk management as a concept and as a practice. But we also see misdirected focus and lack of attention to some of the greatest risks and opportunities facing their companies. Where companies are getting it right, they’re driving ...
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VimpelCom and the conscious indifference of a board under the FCPA
Image: The joint Justice Dept., SEC settlement with telecom giant VimpelCom resolving a longstanding FCPA violation will cost the company more than $795 million, say reports. But there’s a bright side, says CW Columnist Tom Fox. The multiple bribery schemes seem to have been supported by top management and will ...
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NICE Actimize launches Cross-Asset Cloud Markets Surveillance solution
NICE Actimize, a NICE Systems business and provider of financial crime, risk and compliance software for the financial services industry, recently announced the launch of its next-generation Actimize Cross-Asset Cloud Markets Surveillance solution, featuring Foreign Exchange (FX) and case Management capabilities. The solution targets foreign exchange, equities, fixed income, futures ...
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ProcessUnity and Argos Risk partnership delivers real-time third-party risk mitigation
Argos Risk and ProcessUnity today announced an alliance to integrate Argos Risk Online with ProcessUnity’s cloud-based Third-Party Risk Management solution. The integration allows organizations to automatically assess the overall financial health of third-party providers and key business partners as part of a comprehensive vendor due diligence process.
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ITG names global chief compliance officer
ITG, an independent broker and financial technology provider, has appointed Thomas Shpetner as global chief compliance officer, effective April 12. He will report to Angélique DeSanto, ITG managing director and general counsel.
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Platform Specialty Products self-reports FCPA probe
Platform Specialty Products, a chemical-products company, said in a regulatory filing this week that it is conducting an internal investigation to determine whether certain payments made by a recently acquired subsidiary to third-party agents in West Africa violated the Foreign Corrupt Practices Act.
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DreamWorks Animation names chief accounting officer
DreamWorks Animation has appointed Steven Adams as chief accounting officer, effective as of March 8. Chief Financial Officer Fazal Merchant had been serving as acting chief accounting officer since March 4, following the resignation of Edward Aleman.
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SEC approves PCAOB budget; Doty promises new proposals soon
Image: With majority support from the SEC—all two of them, that is—the PCAOB has finalized its 2016 budget with a 12-percent increase in fees charged to public companies to support it. Only SEC Chair Mary Jo White and Commissioner Kara Stein supported the PCAOB’s $257.7 million budget for the current ...
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OCC proposes to reduce regulatory burden on banks
The Office of the Comptroller of the Currency has proposed to remove outdated or unnecessary provisions of certain rules to reduce regulatory burden on national banks and federal savings associations. The proposal is part of the agency’s rules review required every ten years under the Economic Growth and Regulatory Paperwork ...
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Podcast: Compliance challenges in financial services
Image: In the latest edition of the Compliance Week podcast, we discuss regulatory and compliance issues facing the financial services world with Todd Cipperman, founding principal of Cipperman Compliance Services. Among the topics we discuss are individual liability, third party compliance reviews, and the continuing buzz around “culture.”
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Customers and corruption risks
What is the cost of corruption? How much due diligence must you perform with those entities that are your customers? Does doing business with companies that have a propensity for corruption put your company at risk? In light of the scandals at Petrobras and Houston-based ENSCO, companies might want to ...
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FTC to study credit card industry data security auditing
The Federal Trade Commission has issued orders to nine companies requiring them to provide the agency with information on how they conduct assessments of companies to measure their compliance with the Payment Card Industry Data Security Standards (PCI DSS).
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Three-time general counsel Randall Mehrberg rejoins Jenner & Block
Randall Mehrberg, who has more than 35 years of experience in private practice and as a chief legal counsel and a strategic business leader for multi-billion-dollar public companies, is rejoining Jenner & Block. As partner in its Chicago office, Mehrberg will support the firm’s Corporate, Litigation, and Restructuring and Bankruptcy ...
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Axioma acquires ConceptONE regulatory and risk reporting units
Axioma, a provider of risk management and portfolio construction solutions to financial institutions, has agreed to acquire the regulatory reporting and risk reporting units of ConceptONE, a global provider of back-office investment services. Terms of the deal were not disclosed.
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iRobot appoints new board member; enhances corporate governance
iRobot, a robotic technology-based solutions company, has appointed Michael Bell to its board of directors, effective immediately. The company also announced several corporate governance enhancements. Details inside.
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Beacon Roofing Supply names chief accounting officer
Beacon Roofing Supply, a distributor of residential and commercial roofing materials and complementary building products, has appointed Gregory Jorgensen as chief accounting officer, effective March 28. In this role, Jorgensen will oversee all accounting operations, financial consolidations, and SEC reporting efforts.
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MDU Resources names new chief accounting officer
MDU Resources Group has named Jason Vollmer as chief accounting officer, in addition to his role as treasurer, effective March 19. He replaces Nathan Ring, who is resigning effective March 18.