Appointment Blogs | Compliance Week – Page 243
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Entertainment Gaming Asia Chief Accounting Officer to Depart
Entertainment Gaming Asia, a gaming company focused on emerging gaming markets in Pan-Asia, announced the resignation of Andy Tsui, as chief accounting officer to pursue another career opportunity, effective Sept. 30. Traci Mangini, senior vice president corporate finance, has been appointed the interim chief financial officer, effective Oct. 1. More ...
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NAVEX Global Acquires The Network
Two big players in GRC software, NAVEX Global and The Network, have announced a merger. The company will still be known as NAVEX, and it will bring together dominance in whistleblower hotlines (The Network) and case management, training, and consulting (NAVEX). It is the first major consolidation in the GRC ...
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What’s Behind the Endemic Nature of Bribery: Poverty
Image: For all a company’s efforts to preach anti-corruption compliance worldwide, one ugly fact endures: Too many people in too many countries still need to pay bribes simply to survive. Ethics training has virtually nothing to do with the problem, editor Matt Kelly writes. The real challenge is how we ...
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Aguilar: SEC Should Consider Conditional Waivers, Online Database
Image: SEC Commissioner Luis Aguilar wants the agency to bring more clarity to its process for issuing waivers to companies sanctioned for misconduct, including a new “conditional waiver” process and an online database to shed more light on who asks for waivers and how often they are granted or declined. ...
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Naming and Shaming in FCPA Enforcement
One thing that critics of the Foreign Corrupt Practices Act constantly flail is the (alleged) lack of individual prosecutions under the law. Perhaps naming and shaming individuals responsible for actual FCPA violations would get word to the business community to take anti-corruption more seriously.
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De Niro to Play Bernie Madoff in HBO’s ‘Wizard of Lies’
Nearly six years after the scandal unfolded, HBO is moving forward with a film on the Madoff scandal based on Wizard of Lies, a book by NYT reporter, Diana B. Henriques. Robert De Niro will play the role of Bernard Madoff and Henriques will play herself in the movie.
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Gerald Green and Draconian Results of an Adverse FCPA Verdict
Gerald Green, one of the few individuals who went to trial against the Justice Department in a case where the government alleged violations of the Foreign Corrupt Practices Act, passed away last week. Green and his wife Patricia were convicted in 2009 of conspiring with others to bribe a Thailand ...
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FASB, Congressman Dispute Lease Standard’s Economic Effect
Image: FASB is pressing on with its planned fourth-quarter release of the final new accounting standard on leasing despite House Financial Services Committee member Brad Sherman’s (left) plea to FASB Chairman Russ Golden to consider analysis that says the standard will exact a heavy toll on the U.S. economy. Golden ...
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Demand Media Names Chief Accounting Officer
Demand Media, a diversified Internet company, has named Wendy Voong as chief accounting officer. She will oversee Demand Media’s accounting team and be responsible for the financial and accounting process. More inside.
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Pegasystems, DLA Piper Collaborate to Helps Banks With Regulations
Software firm Pegasystems and global law firm DLA Piper have collaborated to assist Pega in offering new software capabilities enabling financial institutions to reduce the time and costs associated with managing rapidly evolving laws and regulations. More inside.
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Walgreens Boots Alliance Names Global Controller and Chief Accounting Officer
Walgreens Boots Alliance, the first global pharmacy-led, health and wellbeing enterprise in the world, has named Kimberly Scardino as global controller and chief accounting officer. She reports to George Fairweather, executive vice president and global chief financial officer. Details inside.
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SEC Prevails in First Appellate Decision on Challenges to APs
Recently, respondents challenging the SEC’s ability to bring administrative proceedings have had success in two cases in federal district court. Last week, the Seventh Circuit became the first appellate court to weigh in on this issue and found in favor of the SEC. The Seventh Circuit held in Bebo ...
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For Third Consecutive Year, SEC Reduces Filing Fees
For the third year in a row, the Securities and Exchange Commission will reduce the filing fees public companies and other issuers pay to register their securities. In fiscal year 2016 fees will be set at $100.70 per million dollars, a drop from the current filing fee for registration statements ...
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Cooper Standard Names Corporate Controller and Chief Accounting Officer
Cooper-Standard Holdings, a global supplier of systems and components for the automotive industry, has appointed Jonathan Banas to corporate controller and chief accounting officer, effective Sept. 14. Details inside.
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UBS to Pay $1.7 Million for Sanctions Violations
Swiss bank UBS yesterday reached a $1.7 million settlement with the U.S. Department of Treasury’s Office of Foreign Assets Control to resolve allegations that it violated global terrorism sanctions regulations. Lessons learned from the bank’s compliance failures, as well as the mitigating factors that reduced the penalty amount, are inside.
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Audit Fee Data Reveals New Departure from Non-Audit Services
According to a recent Audit Analytics study of fees paid in 2014 by 2,300 accelerated filers, 80.3 percent were focused on the integrated financial statement internal control audit; fees for non-audit services dipped to 19.7 percent of the total bill from the audit firm, a drop from 20 percent during ...
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Trade Group Pushes Guidelines for CCO Enforcement Actions
Image: The National Society of Compliance Professionals has written to Andrew Ceresney, director of enforcement at the SEC, urging that compliance officers not be subject to enforcement actions except in cases where a CCO exhibited reckless conduct or knowingly assisted the primary violator. The letter is the latest salvo ...
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Globestar Industries Names Chief Compliance Officer
Globestar Industries, a company engaged in cannabis industry consulting, has named Christopher Plummer as chief compliance officer. Plummer's appointment comes at a time when the company is in the process of changing its name to Pineapple Express, with the intent to create a nationally branded chain of cannabis retail stores. ...
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Plan B? Feds Pursue Insider Trading Charges Under SOX
An unusual insider trading prosecution brought under a provision of SOX (rather than Section 10(b) of the Exchange Act) suggests that prosecutors are seeking a "Plan B" in the wake of the Second Circuit's disruptive decision in U.S. v. Newman.
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Podcast: Conducting Internal Investigations in Europe
Image: In light of increased enforcement activities across Europe, particularly increased enforcement cooperation among foreign jurisdictions and around the world, European corporations are subjected to overlapping and often similar—but not identical—regulatory requirements. In our latest podcast, we talk to Tiffany Moseley, partner in Kaye Scholer’s litigation practice, about internal investigations ...