Appointment Blogs | Compliance Week – Page 213
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GAO warns SEC about data protection practices
A report by the Government Accountability Office finds that while the SEC has made strides in improving the security of its data and resolving previously identified problems, “weaknesses continue to limit the effectiveness of other security controls.” Joe Mont explores what steps the Commission should take, according to the report.
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What is the 'KickAss Insider Trading Forum?'
It seems to me that if you are actually able to create an online forum of hackers and others that allows you to engage in profitable insider trading, that you might want to keep that on the "down low." According to a recently-published interview, the "KickAss Insider Trading Forum" ...
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Cato Institute paper proposes JOBS Act improvements
On the same day the SEC announced it had completed the remaining workload on JOBS Act mandates, conservative think tank the CATO Institute, in an unrelated effort, offered its thoughts on how the legislation is meeting capital formation goals and ways it could be improved. Joe Mont reports.
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Novartis names new chief ethics and compliance officer
Novartis has named Shannon Klinger as chief ethics and compliance officer and head of litigation, effective as of May 1. She assumes these responsibilities from Eric Cornut, who is retiring at a time when Novartis is facing a criminal investigation amid allegations that it made illegal payments to physcians in ...
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Tipalti SuiteApp achieves ‘Built For NetSuite’ status
Tipalti, a supplier of payments automation solutions, announced that its Tipalti SuiteApp has achieved ‘Built for NetSuite’ status. The new SuiteApp, built using NetSuite’s SuiteCloud Platform, integrates with NetSuite OneWorld to provide one unified accounts payable automation solution, helping finance departments streamline their entire global supplier payment operation.
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BDO Consulting expands financial services advisory
BDO Consulting, a division of professional services firm BDO USA, has appointed Gary Swiman as head of regulatory and compliance consulting for its financial services advisory practice.
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IntelliChief Analytics offers workflow visibility
IntelliChief, a provider of automated document management and workflow enterprise content management (ECM) solutions, has launched IntelliChief Analytics, a multicultural/multilingual-supporting business intelligence platform enabling complete visibility to live documentation in IntelliChief ECM.
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Axioma expands Asia footprint with Japan office
Axioma, a provider of innovative risk management and portfolio construction solutions to financial institution, recently announced the launch of its Japan office and the appointment of Kiichi Takai as senior consultant for their multi-asset class risk division. Takai will be based in Tokyo.
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Study asserts companies shop for internal control audit opinions
Audit opinion shopping—a not-uncommon practice believed to have been cut down in the post-Sarbanes-Oxley era—remains live and well in capital markets, and it’s most pervasive in the presence of competition among auditors, according to research from the American Accounting Association. More from Tammy Whitehouse.
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Pros vs. Joes: SEC enforcement headlines edition
Yesterday, however, the UK's Daily Mail weighed in on the SEC's recent Stephen Ferrone case with a headline that shows the difference between pros like itself and the rest of us average Joes in the "click economy."
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BlogHave your say on the new Sustainability Reporting Standards
Stakeholders have 90 days from 19 April to comment on the initial set of six GRI Sustainability Reporting Standards to the Global Sustainability Standards Board, which has been commissioned to develop and approve the rules. The new standards cover subjects and disclosures from earlier guidance in G4, but will be ...
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SEC wraps up remaining JOBS Act workload
On Tuesday, the SEC, completing its remaining workload on JOBS Act mandates, approved amendments to revise the rules related to the thresholds for registration, termination of registration, and suspension of reporting under Section 12(g) and 15(d) of the Securities Exchange Act. Joe Mont has more.
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Wyeth and Pfizer to pay $784.6 million in False Claims Act case
Wyeth and Pfizer last week reached a $784.6 million settlement with the Department of Justice to resolve allegations that Wyeth knowingly reported to the government false and fraudulent prices on two of its drugs.
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Internal audit: an unlikely driver for corporate culture
As regulators such as FINRA increasingly view culture as a factor when determining wrongdoing and punishment, building a strong culture is taking center stage. Jose Tabuena reports.
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Deutsche Bank and the continuing costs of money laundering risks
Deutsche Bank demonstrates that the costs of continuing to fail to meet regulatory requirements regarding anti-money laundering can be astronomical. Tom Fox looks at the Financial Conduct Authority’s Deutsche Bank investigation and what it means for the financial firm’s future.
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KBR ‘cooperating’ in Unaoil investigation
Engineering and construction company KBR confirmed in a quarterly report last week that it’s been contacted by the Department of Justice in connection with the massive media-leaked bribery and corruption scandal surrounding Monaco-based Unaoil. Jaclyn Jaeger reports.
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New board member joins Vuzix
Vuzix announced that Edward Kay has joined its board of directors. Kay will serve as chairman of the audit committee, taking over the responsibilities of former board member William Lee, who passed away in March.
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Mutual funds call for corporate board accountability
As proxy season begins, holding boards accountable is the new black, and issues such as proxy access and dual-class companies are giving critics and activist shareholders new avenues for holding corporate board members’ feet to the fire. More from Stephen Davis and Jon Lukomnik.
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FASB floats one more change to cash flow classification rules
FASB is aiming to get companies on the same page when classifying changes in restricted cash. Currently, some firms reflect cash receipts and payments in bank accounts that hold restricted cash as cash inflows and outflows, while others designate those transactions as non-cash investing. Tammy Whitehouse reports.
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Insured Retirement Institute partners with Gainfully
The Insured Retirement Institute has announced a new partnership with Gainfully, a first-of-its-kind open marketing platform for the financial services industry. Through the partnership, financial advisors can now leverage the Gainfully platform to share relevant and timely content with their clients using social media in an SEC and FINRA-compliant environment.