Appointment Blogs | Compliance Week – Page 210
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Monsanto settles $80 million accounting charges with SEC
Image: Without admitting or denying wrongdoing, Monsanto Co. has agreed to an $80 million settlement with the Securities and Exchange Commission over charges that it failed to properly report millions of dollars in rebates related to its Roundup weedkiller product line. “This type of conduct, which fails to recognize expenses ...
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White House plan would double SEC’s budget by 2021
Don’t expect the proposal to emerge unscathed from its trip through partisan debate, but a budget plan announced this week by President Obama would provide the SEC and Commodity Futures Trading Commission the biggest boost to their bottom lines in recent years, with plans to double their fiscal year 2015 ...
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The SAP and Garcia FCPA Enforcement Actions - The Government Speaks, Are You Listening?
As the SEC concludes its Foreign Corrupt Practices Act investigation into suspected illegal activity by former SAP International Vice President of Global and Strategic Accounts Vicente Garcia for bribery and corruption in sales to certain government officials in Panama, we are seeing some clear signs about where FCPA enforcement will ...
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Egmont Group Explores How to Combat Terrorist Financing
The Egmont Group of Financial Intelligence Units issued its latest Communiqué resulting from its meeting in Monaco last week. Its focus: terrorist financing. The heads (or their designated representatives) of 102 FIUs convened a meeting of its governing body to discuss how the Egmont Group could positively respond to this ...
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SEC Petitioned for Gender-Based Pay Ratio Disclosures
An investment adviser to the Pax Ellevate Global Women’s Index Fund has filed a rulemaking petition with the SEC, seeking a requirement that companies disclose gender-based pay ratios on an annual basis. “We believe that pay equity is a useful and material indicator of well managed, well-governed companies, and conversely, ...
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LockPath Expands Keylight GRC Platform’s Multilingual Capability
LockPath, a provider of governance, risk management and compliance (GRC) solutions, is providing additional functionality for its multinational enterprise customers with Version 4.3 of its Keylight GRC platform, through a multilingual user interface and increased flexibility and performance.
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Recommind Integrates Microsoft Office 365 Into Axcelerate
Recommind, an advanced analytics provider, announced that it has integrated Microsoft Office 365 into the newest version of Axcelerate, its cloud-based e-Discovery platform. The collaboration streamlines discovery by enabling joint customers to easily and effectively cull data in the Office 365 environment before exporting it into Axcelerate for total visibility ...
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FASB Takes Heat on Impairment Proposal
Image: FASB is facing some fresh political pressure from Congress, this time to answer the outcry of smaller financial institutions objecting to the planned change to financial instrument impairment rules. According to FASB Chairman Russ Golden, a recent open meeting on the topic of impairment produced “insightful discussion that resulted ...
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SafeBreach Arms Defenders With the Hacker's Playbook
SafeBreach, a breach validation firm, last month officially announced the company and the general availability of its platform. Founded by former LivePerson CSO Guy Bejerano and renowned security researcher Itzik Kotler, SafeBreach enables any size organization to precisely and continuously quantify the risk of breaches from specific attack scenarios, harden ...
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Allianz Life Names Chief Compliance Officer
Allianz Life Insurance Company of North America and Allianz Life Insurance Company recently hired Steve Koslow as chief compliance officer to oversee the compliance management system for insurance, broker/dealer and investment advisor regulated business, as well as compliance with legal and regulatory requirements.
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Ethics, Compliance, and GRC: A Foot on Both Banks
Ethics & compliance is one thing, and governance, risk & compliance is another, and yet, both seem to overlap significantly. When considering how often compliance issues begin as ethics issues, Editor Bill Coffin wonders what can be done to ensure a more seamless integration of ethics into compliance, governance, and ...
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Volkswagen Group of America Names New General Counsel
Amid its emissions scandal, Volkswagen Group of America has appointed David Detweiler to serve as general counsel, effective as of Feb. 1. Detweiler joins Volkswagen Group of America from the international law firm Clifford Chance in Frankfurt, Germany. He assumes his new role from David Geanacopoulos, who has served for ...
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Achillion Pharmaceuticals Names General Counsel and SVP of Regulatory Affairs
Achillion Pharmaceuticals has announced the addition of two members to the senior management team, including the appointment of a new general counsel and secretary, and a new senior vice president of regulatory affairs.
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TOMI Appoints Three New Independent Board Members
TOMI Environmental Solutions, a global bacteria decontamination and infection prevention company, has appointed three new independent directors to its board, bringing its total to five members.
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CFTC Still Waiting for Its Whistleblower Program to Bear Significant Results
After four years, the CFTC has so far paid out just two whistleblower awards totaling $530,000 while incurring millions of dollars in expenses. The agency’s inspector general stated recently that it has opened a review to “to determine the reason, if any, for the limited number of CFTC whistleblower awards ...
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'You Get a Refund! You Get a Refund! You Get a Refund...!'
The SEC might be feeling like a little like Oprah lately, handing out refunds the way Oprah hands out cars. "You get a refund! You get a refund! YOU get a refund!"
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BlogSciClone to Pay SEC $12.8 Million in FCPA Case
SciClone Pharmaceuticals announced that it has entered into a $12.8 million settlement with the Securities and Exchange Commission to resolve an investigation of potential violations of the Foreign Corrupt Practices Act with respect to its China operations. SciClone further said that the Department of Justice has also completed its related ...
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BlackRock CEO Urges Rethinking of Quarterly Earnings
Image: In recent months an increasing number of investor advocates have expressed concerns that companies worry more about short-term quarterly earnings and estimates, not enough about long-term, sustainable growth. In a Feb. 1 letter to nearly 500 companies, Laurence Fink, co-founder and CEO of BlackRock offered his take, urging “resistance ...
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Barclays, Credit Suisse to Pay $150 Million for Dark Pool Violations
The Securities and Exchange Commission last month announced that Barclays Capital and Credit Suisse Securities have agreed to settle separate cases for violating federal securities laws while operating alternative trading systems known as dark pools and Credit Suisse’s Light Pool. Both firms collectively will pay more than $150 million to ...
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Wells Fargo to Pay $1.2 Billion for ‘Reckless’ Lending Practices
Wells Fargo & Company said this week in a securities filing that it would pay $1.2 billion to resolve certain civil claims relating to the company’s Federal Housing Administration lending activities. In a Form 8-K filing, Wells Fargo said it had reached an agreement in principle with the Justice Department, ...