Appointment Blogs | Compliance Week – Page 215
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Former FinCen Chief Counsel Joins Crowell & Moring
Law firm Crowell & Moring has named Carlton Greene as partner in both its International Trade and White Collar & Regulatory Enforcement Groups. Greene joins the firm after serving as chief counsel of the U.S. Department of the Treasury, Financial Crimes Enforcement Network.
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SEC Charges State Street for Pay-to-Play Scheme
State Street Bank and Trust Company last week reached a $12 million settlement with the Securities and Exchange Commission to settle charges that it conducted a pay-to-play scheme through its then-senior vice president and a hired lobbyist to win contracts to service Ohio pension funds.
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American National Names New Chief Accounting Officer
American National Bankshares, parent company of American National Bank and Trust Company, has appointed Cathy Liles as chief accounting officer, effective as of on Jan. 4. She reports to Executive Vice President and Chief Financial Officer William Traynham.
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PCAOB Sanctions China-Based Firm for Stalling Investigation
With its negotiations over regulatory access to China stalled, the PCAOB has settled a disciplinary order against Hong Kong audit firm PKF HK and three employees accused of failing to cooperate with an investigation. The board has revoked the registration of the company and censured the firm, contending that PKF ...
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2016 SEC Trial Scorecard Update: Agency Remains Undefeated After Two Trials
In the SEC's second federal court trial to reach a verdict in FY 2016, a federal jury in Pennsylvania found in favor of the SEC. The jury found Nan Huang, a former data analyst at Capital One, liable for engaging in a creative insider trading scheme that involved searching a ...
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From Bad to Worse -- and Finally to Prison -- for Apple Day-Trader Sued by SEC
I always try to warn people not to get themselves thrown in prison by obstructing justice in SEC investigations. No really, I do! They just don't listen.
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PayPal Appoints New Board Member
PayPal Holdings has appointed Wences Casares to its board of directors, effective of as of Jan. 12. He will serve on PayPal’s compensation committee.
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Layne Christensen Appoints New Board Member
Layne Christensen, a global solutions provider to the world of essential natural resources, has appointed Alan Krusi to its board of directors, effective Jan. 15.
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NYC Comptroller Expands Proxy Access Demands
On behalf of New York City’s public pension funds, Comptroller Scott Stringer has announced the expansion of an initiative that uses shareholder resolutions to pressure companies to adopt meaningful proxy access bylaws. In 2016, 72 companies will be asked to enact a 3 percent ownership threshold for the ability to ...
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Remember When David Bowie Went Wall Street on Us?
Image: In 1997, just before the music industry was about to be turned upside down by a Black Swan-level of remarkable circumstances, legendary rock artist David Bowie issued bonds on his future royalties, earning a handsome payday for himself, and managing to sidestep a financial cataclysm in the making. Was ...
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With IASB Leasing Rule Final, FASB Calls on US Companies to Plan Adoption
As the IASB has released its final leasing standard, FASB is now calling on U.S. companies to begin planning to adopt FASB’s incoming lease rules. The board is retaining an accounting model that contemplates two types of leases similar to the way they are categorized in GAAP currently; on the ...
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Going Concerns Fall in 2014 in “Mixed Bag” of Results
According to the latest data from Audit Analytics, the number of audit opinions that included a question from auditors regarding whether the company could remain in business another year appears to have fallen in 2014 from 2013. Based on this estimation, the research firm says 2014 going-concern opinions finished out ...
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SASB Unveils Guide for ESG Disclosures
For companies that want to integrate sustainability and corporate responsibility reporting into existing 10-K or 20-F disclosures, the Sustainability Accounting Standards Board recently issued a new reference document intended to assist that integration. The implementation guide will help issuers achieve three objectives: identify the industry-specific sustainability topics most likely to ...
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NetSuite, Namely Partnership Bridges HR and Financial Data
NetSuite, an ERP/financial system used by more than 24,000 organizations, and Namely, an HR, payroll, and benefits platform provider, announced today that they have joined forces to help mid-sized companies streamline financials and HR. For the first time, financial executives will be able to view and manage all their financial ...
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SEC Initiated Record Enforcement Actions in 2015
The number of enforcement actions initiated by the SEC has steadily increased over the past six fiscal years, reaching a record high in 2015, according to a recent report drawing on data from the Securities Enforcement Empirical Database (SEED) that tracks and records information on SEC enforcement actions filed against ...
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Compliance Convergence: the Consequences of an Export Control Failure
When a Hellfire missile intended to be shipped from Germany to the United States accidentally ends up in Cuba, more than a few eyebrows raised over it, especially since such sensitive cargo was handled by multiple shipping companies that never seemed to check the manifest or wonder why one of ...
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Why All the Fuss Over Culture?
We hear a great deal about corporate culture and its relevance to such matters as internal control, risk management, whether to pursue a merger or acquisition, and the effect on regulators’ investigations and enforcement actions. It seems we can’t get away from hearing about it, and we begin to wonder ...
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The SEC’s Newly Proclaimed Search Warrant Authority
The Securities and Exchange Commission has broad subpoena powers that this dedicated corps of highly credentialed professionals—inspired by a noble sense of mission, and rich with a long history of investor advocacy—tries to use in the best way possible. But when it comes to issuing subpoenas for electronic storage devices, ...
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EZCORP Names Chief Accounting Officer Amid Financial Restatements
EZCORP has appointed David McGuire as deputy chief financial officer and chief accounting officer, effective as of Jan. 11. The hiring of McGuire comes two months after the payday lender and pawn shop operator announced that it has filed its amended and past due periodic reports with the Securities and ...
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New Report Shows SEC Bringing More, Larger APs Against Public Companies
A new report offers some interesting angles on the SEC's enforcement actions against public companies since 2010. Among other things, the report shows that since FY 2010, SEC enforcement has undergone a "dramatic shift" in its choice of venue for bringing cases against public company defendants, with a significant move ...