Appointment Blogs | Compliance Week – Page 240
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Labor Dept. Rule Bans Pay Talk Discipline by Gov. Contractors
The Department of Labor has issued a final rule prohibiting federal contractors from disciplining, firing, or discriminating against employees and job applicants who inquire about, discuss, or disclose their compensation or the pay of their coworkers. The rule applies to all federal contractors, sub-contractors, and contracts that exceed $10,000 in ...
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Big Banks Agree to Preserve Records on Symphony Chat Program
New York State has reached agreements with Goldman Sachs, Deutsche Bank, Credit Suisse, and Bank of New York Mellon regarding recordkeeping requirements for the Symphony chat and messaging platform, a service aimed at banks. The agreements require Symphony to retain all communications sent to or from the banks through its ...
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The FCPA Enforcement World Changed Last Week
Image: The Yates Memo issued by the Justice Department last week, insisting that companies work much harder to help prosecute individuals if they want to receive cooperation credit, is likely to be a sea change in how compliance officers must address problems like Foreign Corrupt Practices Act investigations. Our FCPA ...
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Rabobank Splits Chief Risk Officer, CFO Role
Netherlands-based Rabobank announced that it has split its chief risk officer and chief financial officer role as the company moves to revamp its governance model. The bank has named Carin Gorter as chief risk officer and Bas Brouwers as CFO. The role is currently held by Bert Bruggink. Details inside.
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MUFG Names Chief Risk Officer
MUFG, a financial holding company and bank holding company with total assets of $114.3 billion, has appointed Donna Dellosso as chief risk officer for the Americas for MUFG Americas Holdings and its U.S. banking subsidiary, MUFG Union Bank. Dellosso will serve on the company’s executive committee for the Americas as ...
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Yahoo Chief Accounting Officer to Resign
Aman Kothari, global controller and chief accounting officer of Yahoo, has decided to leave the company. His departrure took effect Sept. 11, according to a Form 8-K that the company filed with the Securities and Exchange Commission. Details inside.
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Lenzi Named Head of Compliance at CHS
CHS Inc., a $42.7 billion agribusiness operation based in St. Paul, Minn., has named Jack Lenzi vice president of corporate compliance.
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Cohen and Sansone Named Co-Chiefs for SEC's Market Abuse Unit
The SEC has named Robert Cohen and Joseph Sansone as the new Co-Chiefs of the Division of Enforcement’s Market Abuse Unit, filling the position recently vacated by Dan Hawke.
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Doty Projects Year-End Completion of Engagement Partner ID
Image: More than a decade after regulators began mulling how to give some transparency to investors around who actually performs public company audits, PCAOB Chairman James Doty said he is hopeful that the board is on track to “get this done by the end of the year.” Doty recently said ...
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Court: Whistleblowers Protected, SEC Reporting or Not
A federal appeals court has ruled that employees are covered by anti-retaliation protections for whistleblowers provided by the Dodd-Frank Act, even if they don’t file a report with the SEC. The ruling is a warning to businesses to tread carefully when handing out discipline to a suspected whistleblower, whether or ...
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DoJ Shifts Policy on Corporate Prosecutions, Individual Culpability
Image: Representing a potential sea change in how the Justice Department approaches corporate prosecutions, a new policy memo stresses the importance of individual prosecutions. The memo, by Deputy Attorney General Sally Yates, appears to be a reaction to widespread criticism that in the wake of the financial crisis the Justice ...
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Welcome to the Enforcement Action Art Gallery!
Welcome to the "Enforcement Action Art Gallery," this blog's collection of the finest SEC and securities enforcement-related art available anywhere.
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Flying the Unfriendly Skies of Investigations and Resignations
Image: Title: SmisekRarely in compliance do you see a CEO resignation as unceremonious as the ouster earlier this week of now former head of United-Continental, Jeff Smisek (left). While his removal doesn’t involve foreign government officials—only local ones at the Port Authority of New York and New Jersey—it does provide ...
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Blood Is Not Thicker Than FCPA Risk
The SEC has now taken its first enforcement action in a “princeling” case, fining BNY Mellon for offering plum internships to the relatives of foreign officials to win business with their countries’ sovereign wealth funds. Inside, columnist Tom Fox looks at the case (which is probably the first of several) ...
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Geoffrey Coll Joins BakerHostetler’s Securities Litigation Practice
BakerHostetler has announced that partner Geoffrey Coll, a former diplomat to France and India, has joined the law firm’s litigation group and securities litigation and regulatory enforcement practice in the firm’s New York office.
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Edwards Promoted to Castle & Cooke's National Compliance Manager
Castle & Cooke Mortgage, an independent mortgage lender with 38 locations throughout the nation, has announced the promotion of Jenifer Edwards to national compliance manager. Edwards has served on the Castle & Cooke Mortgage compliance team since June 2014.
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Karin Lockovitch is New Director of Compliance at Zions Bancorporation
Zions Bancorporation has appointed Karin Lockovitch, a 16-year veteran of the financial industry, as its new director of compliance. She joined the bank after serving as senior vice president and consumer compliance officer for SunTrust Banks and senior director of regulatory risk management for Ally Financial.
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SEC Charges Bankrate, Former Executives With Accounting Fraud
Bankrate Inc. has agreed to pay $15 million to settle accounting fraud charges leveled against it by the Securities and Exchange Commission. Three former executives were also charged, accused of fraudulently manipulating the company’s financial results to meet analyst expectations. Bankrate’s former CFO Edward DiMaria is also accused of selling ...
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Former Gov. Contractor in Afghanistan Charged With Bribery
A former employee with International Relief and Development Inc., a government contractor, has pleaded guilty to charges of bribery in connection with a federal program and attempting to avoid currency transaction reporting requirements. The announcement was made this week by Assistant Attorney General Leslie Caldwell of the Justice Department’s Criminal ...
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Geoswift Names Michael Kireopoulos Global Head of Compliance
Geoswift, a provider of cross-border payments between China and other nations, has named Michael Kireopoulos as Global Head of Compliance. Based in San Francisco, he will be responsible for managing all facets of global compliance, with a specific focus on meeting anti-money laundering and money transmission regulatory standards.