Appointment Blogs | Compliance Week – Page 208
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Aeterna Zentaris appoints chief accounting officer
Aeterna Zentaris, a specialty biopharmaceutical company, has appointed Geneviève Lemaire, currently interim corporate controller, to serve as the company's vice president of finance and chief accounting officer. She assumes these roles from Keith Santorelli, who has left the company to pursue other opportunities.
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White, Stein address ETF oversight, universal proxy access
Each year, anyone who is anyone at the SEC, reflects upon the year that was—and the year ahead—at the Practising Law Institute’s SEC Speaks conference. At the event, held over the weekend in Washington D.C., SEC Chair Mary Jo White placed addressing the “increasingly complex portfolios and operations” of mutual ...
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Justice Department concludes $795M FCPA action against VimpelCom
Image: Dutch telecom giant Vimpelcom will be hit with nearly $800M in fines, penalties, and disgorgement of profits and prejudgment interest from its huge FCPA case where it spent millions to bribe its way into the Uzbekistan marketplace. Tom Fox looks at the details of the Justice Department’s FPCA enforcement ...
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Corruption can give you a very bad few days
Title: Corruption can give you a very You know it is going to be a bad day when you see your company’s name splashed across a BBC investigative report into alleged payment of bribes to secure business contracts. However, your day can get considerably worse when US congressmen, call ...
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Podcast: how boards can improve risk response
In the latest CW podcast, we chat with Steven Kreit, partner with accounting firm EisnerAmper, about the firm’s recent “Concerns About Risks Confronting Corporate Boards” survey. Director worries haven’t changed much since last year, with reputation risk and cyber-security perennial causes of angst, according to the survey. However, there does ...
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Apple, the FBI and a terrorist’s iPhone
As the FBI continues its investigation into the deadly San Bernadino terror attack from last December, it has run into an unlikely adversary in Apple, which has refused the Bureau’s requests to defeat the security measures of one of the terrorists’ iPhones. While the legal struggle over this raises the ...
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FASB, SEC offer new insights on XBRL
The Financial Accounting Standards Board has made some changes to the Development Taxonomy for any early adopters of FASB’s new standard on the recognition and measurement of financial instruments, adding elements that companies can use in submitting their financial statements in XBRL. The newest guide is the latest in a ...
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BlogVimpelCom to pay $795 million for FCPA violations
Amsterdam-based VimpelCom, a global telecommunication services provider, and its wholly owned Uzbek subsidiary, Unitel, yesterday reached a combined $795 million settlement with the U.S. and Dutch prosecutors for paying bribes to a government official in Uzbekistan, making it one of the largest global foreign bribery resolutions ever. VimpelCom will pay ...
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Big banks could face new recordkeeping requirements
The Federal Deposit Insurance Corporation has proposed new recordkeeping requirements for federally-insured institutions with more than 2 million customer accounts. The move is intended to facilitate rapid payment of deposits to customers if the institutions were to fail. Banks would be required to ensure that their information technology systems are ...
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Winter is coming
It is easy to see data that is slightly off and to accept it, but what happens when you start accepting data that deviates from your deviation? It sounds crazy, but it happens all the time. Perhaps one of the best ways to combat this kind of creeping non-compliance is ...
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Pressure builds on FASB as it finalizes lease standard
As the Financial Accounting Standards Board dries the ink on its pending new lease accounting standard that will bring lease assets and liabilities on to corporate balance sheets, more than a dozen trade and professional groups are making an eleventh-hour appeal for FASB to exempt private companies. The groups, which ...
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SEC dusts off Reg AC to charge former Deutsche Bank analyst
Today, the SEC announced that it has filed a settled administrative proceeding against Charles P. Grom, a former Deutsche Bank research analyst, for allegedly certifying a rating on a stock that was inconsistent with his personal view. The SEC alleged that Grom's conduct violated the analyst certification requirement of Regulation ...
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Nouy: bank regulation must be consistent, harmonised
Image: European banks are much improved since 2012, with greater stability and resiliency. A challenge, however, is to ensure consistent and equal rulemaking throughout EU member states. That was the prognosis offered by Danièle Nouy, chair of the supervisory board of the European Central Bank, during an address to European ...
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BlogEU implements plan to prevent falsified medicines
The European Medicines Agency and the European Commission have published a plan to prevent falsified medicines from entering the market. The regulation introduces two safety features: a unique identifier and an anti-tampering device to be placed on the packaging of most medicines. “The safety features will help protect European citizens ...
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SEC Inspector General report finds no evidence of ALJ bias
In a recently-issued report, the SEC's Office of Inspector General concluded that there was no evidence to support allegations of bias on the part of Administrative Law Judges in the SEC's administrative proceedings. The allegation had surfaced in a May 2015 article in The Wall Street Journal.
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European Commission concedes one-year MiFID II extension
The European Commission has proposed a one-year extension to the implementation date of its revised Markets in Financial Instruments Directive, better known as MiFID II, a comprehensive slate of unified regulations across member states for securities markets and investment firms. The new date will be Jan. 3, 2018. The delay ...
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House advances controversial slate of SEC rule changes
A legislative package, recently passed by the House of Representatives, is drawing fire from Democrats and the White House. The bills, bundled as the Capital Markets Improvement Act of 2016, include changes to current SEC rules pertaining to company-issued employee stock, broker-dealer research reports, M&A brokers, and the use of ...
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General Cable sets aside $28 million for bribery case
General Cable said last week in an earnings release that it has set aside an estimated charge of $28 million that it believes the Securities and Exchange Commission likely will disgorge from profits derived from sales tainted by improper payments made in several countries. As previously disclosed, General Cable said ...
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PTC to pay $28 million in FCPA case
Two China subsidiaries of computer software company PTC this week reached a combined $28 million settlement—a $14.5 million criminal penalty to the Department of Justice, and $13.6 million in disgorgement and prejudgment interest to the Securities and Exchange Commission—to resolve an investigation of potential violations of the Foreign Corrupt Practices ...
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IIA calls for bold moves in latest "Pulse" report
Internal audit leaders are becoming alarmed with their latest survey results that suggest the internal audit profession is not moving as nimbly as they’d like to address emerging business risks. A report from the Institute of Internal Auditors says 89 percent of organizations polled see prevention and education as the ...