Appointment Blogs | Compliance Week – Page 242
-
Blog
FASB Plans Disclosure Changes for Uncertain Tax Positions
FASB has tentatively decided to revise disclosure of uncertain tax positions, by dropping the current requirement for companies to disclose the nature and estimate of the range for a reasonably possible change in the unrecognized tax benefit balance in the next 12 months. More inside.
-
Blog
Do You Have a Windows 95 FCPA Compliance Program?
I find the world of sports to be a rich source of tutorials on things not to do for the FCPA compliance practitioner; from suspending Tom Brady for events which happened after DeflateGate, to the St. Louis Cardinals hacking the Houston Astros (of all teams) to steal secrets around player ...
-
Blog
Medytox Solutions Names Chief Compliance Officer
Medytox Solutions, a holding company that owns and operates businesses in the medical services sector, has appointed Steven Burdelski as chief compliance officer. Burdelski will lead the compliance department in reviewing and evaluating compliance issues and concerns. Details inside.
-
Blog
From Bad to Worse for Apple Day-Trader Sued by SEC
Things looked like they couldn't get much worse for an Apple day-trader sued by the SEC in February 2015 for a scheme that was allegedly quite audacious. But they just did.
-
Blog
Third Citigroup Compliance Update Posted
More than one year after Citigroup’s $7 billion landmark settlement with the government to resolve a federal investigation into the sale of sub-prime mortgages comes the third report on the bank’s progress. Details of the report include an assessment of Citi’s consumer relief efforts through March 31 and a review ...
-
Blog
The Seibels Bruce Group Names Chief Risk Officer
The Seibels Bruce Group, an insurance services provider of business process outsourcing solutions, has appointed Adrian Brown to chief risk officer. More inside.
-
Blog
Court Gives SEC Deadline to Act on Extractive Payments Rule
A federal district court has ordered the SEC to get moving with its long-delayed requirement to adopt a rule for oil, gas, and mining companies to disclose payments made to foreign governments. Ruling on a lawsuit brought against the SEC by Oxfam America, the judge concluded that the SEC “unlawfully ...
-
Blog
FASB Explains Changes to 2016 GAAP Taxonomy
FASB has issued notes explaining the changes to the proposed 2016 XBRL taxonomy, including simplifying the income statement and the presentation of debt issuance costs, among other changes. “While some of these changes may impact a significant number of filers, the feedback received from constituents was to eliminate inconsistencies and ...
-
Blog
SEC Cites 'Analysis and Detection Center' in Recent Insider Case
A litigation release announcing the SEC’s headline-generating case against former JPMorgan analyst Ashish Aggarwal for insider trading included an interesting note: The Enforcement Division’s Market Abuse Unit was able to detect the insider trading “through trading data analysis tools in its Analysis and Detection Center.” This marks the first time ...
-
Blog
More on Poverty, Bribery, and Compliance
Image: Earlier this week I wrote about poverty: how its brutal reality makes corporate compliance programs so difficult to implement, because people in emerging markets (foreign officials and employees alike) need to take bribes to survive. Then came a recent conversation with a foreign official in said emerging markets, and ...
-
Blog
Google Facing Some Intense Heat in Europe
Image: European companies may now find it easier to file potential damages suits against Google, thanks to an independent platform calling on individuals and entities to proffer any civil claims regarding Google’s anticompetitive behavior. The “Google Redress and Integrity Platform” comes at a time when Google is facing several investigations ...
-
Blog
Banks Fear EU Privacy Rules Will Make Fraud Harder to Detect
Image: Bankers are claiming new EU privacy laws may end up doing more harm than good, as they will prevent banks from detecting fraud and terrorist financing. Consumer rights groups disagree, arguing that the updated laws will pave the way for more transparency and force banks to behave more responsibly ...
-
Blog
Societe Generale Appoints New Group Chief Compliance Officer
Societe Generale has appointed Gilles Briatta as general secretary and group chief compliance officer, effective as of Sept. 1. In his new role, Briatta will become a member of the group’s executive committee. More inside.
-
Blog
FCPA and Pursuing Foreign Officials: The Mikerin Example
Image: Many Europeans wonder why the U.S. Justice Department does not prosecute foreign officials who receive bribes in violation of the FCPA. The reason, according to CW blogger Tom Fox, is that the FCPA is a supply-side law that does not criminalize the receipt of bribes. But the Justice Department ...
-
Blog
FASB Proposes Gross-Net Guidance on Revenue Recognition
FASB has proposed an update to its revenue recognition standard to clarify when an entity is acting as the principal in its interaction with a customer or when it is an agent for some other entity, helping a company determine if it should recognize revenue on a gross or net ...
-
Blog
Candidates Hit SEC Over Revolving Door, Political Spending
The SEC found itself in the crosshairs of two 2016 presidential candidates this week. On Monday, Hillary Clinton co-authored a Huffington Post article supporting a bill intended to curb the “revolving door,” a career path where financial industry personnel join regulatory agencies and later return to the industry. Clinton’s ...
-
Blog
MetricStream Offers GRC Cloud Business Intelligence Offering
MetricStream, a governance, risk, and compliance (GRC) management apps provider, this week announced a new offering: GRC Cloud Business Intelligence with Tableau. The new offering will enable MetricStream cloud customers to transform their raw risk and compliance data into on-demand analytics and actionable risk intelligence that can facilitate quicker and ...
-
Blog
Blockbuster Mergers Prompt 'Tweet' Disclosures
“Safe, not sorry” is the approach companies currently involved in multi-billion dollar mergers are taking to their disclosures of social media communications to the Securities and Exchange Commission. Insurance giants Aetna and Humana, in the midst of a $37 billion deal, and Charter Communications(merging with Time Warner Cable), have disclosed ...
-
Blog
The Painstaking Challenge of Corporate Governance in China
The world’s second-largest economy threw the rest of the world a huge curveball this summer, with crashing stock markets and unpredictable regulatory reactions. Better corporate governance might help, but the truth about China is this: Its institutions are still weak, efforts to improve them difficult. Inside, columnists Stephen Davis and ...
-
Blog
Interblock Names Chief Accounting Officer
Interblock, a developer and supplier of luxury electronic table gaming products, has appointed Bryan Coy as chief accounting officer. Coy joins Interblock from privately held Aruze Gaming America, where he served as chief accounting officer, Americas. Details inside.