Appointment Blogs | Compliance Week – Page 246
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Amazon, Data, and Selling Your Culture Down the River
Image: Compliance officers like to talk about data, and about culture. This weekend, however, the New York Times published a brutal, brilliant portrait of corporate culture at Amazon.com and how awful today’s modern management of behavior can get. Inside, editor Matt Kelly dissects the unspoken and obvious: that data-driven management ...
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Citigroup Affiliates to Pay $180 Million for Hedge Fund Fraud
Two Citigroup affiliates—Citigroup Global Markets and Citigroup Alternative Investments—today agreed to pay nearly $180 million to the Securities and Exchange Commission to settle charges that they defrauded investors in two hedge funds by claiming they were safe, low-risk, and suitable for traditional bond investors. The funds later crumbled and eventually ...
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SNC-Lavalin Names New Head of Legal and Compliance
SNC-Lavalin has appointed Hartland Paterson as general counsel, effective Sept. 10. He will report to President and CEO Robert Card. Paterson will oversee both the legal and ethics and compliance functions of the engineering and construction giant. More inside.
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United Online Names General Counsel
United Online, an online provider of consumer products and services, appointed Mark Harrington general counsel, effective this month.
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Patterson Companies Names General Counsel and Corporate Secretary
Patterson Companies has named Les Korsh as general counsel and secretary, a distributor serving the dental, production and companion animal health and rehabilitation supply markets.
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Report: No Bias Found in SEC Hearings So Far
A report from the SEC’s inspector general says he is looking into allegations of bias among administrative law judges in the SEC’s administrative proceedings, but has found no evidence so far to support those accusations. More inside.
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Accellion Launches Governance Package for Kiteworks
Accellion, a provider of private cloud solutions for secure file sharing and collaboration that ensure data security and compliance, recently announced that it has added new security and governance capabilities to its kiteworks secure content platform. Accellion's kiteworks governance package is designed to assist enterprise organizations in demonstrating compliance with ...
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Soma Oil & Gas Faces Corruption Probe by SFO
The U.K. Serious Fraud Office recently announced that it has opened a criminal investigation into London-based Soma Oil & Gas Holdings relating to allegations of corruption in Somalia. Soma Oil & Gas confirmed that it has been informed by the agency of the investigation. More inside.
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Aviall Names Vice President of Compliance
Aviall, a wholly owned subsidiary of The Boeing Company, recently named Kim Stollar as general counsel and vice president of compliance. More inside.
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SciClone Could Pay SEC $12.8 Million in FCPA Case
SciClone Pharmaceuticals has disclosed in a quarterly report that it’s discussing a tentative $12.8 million settlement with the Securities and Exchange Commission to resolve an investigation of potential violations of the Foreign Corrupt Practices Act with respect to its China operations. Details inside.
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FTC Issues First-Ever Guidance on Unfair Competition
After more than 100 years, it has finally happend: the Federal Trade Commission has published guidance on what it considers “unfair” competition. The pronouncement is a welcome development for companies, as they now have at least some idea as to what activity could potentially result in a FTC investigation. More ...
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Wintrust Financial Names General Counsel and Corporate Secretary
Wintrust Financial, a financial holding company, has named Kathleen Boege general counsel and corporate secretary. She will assume these roles from Lisa Pattis, who will be leaving the company in September. Details inside.
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Edward Jones to Pay $20M for Overcharging Customers in Municipal Bond Sales
The Securities and Exchange Commission has charged brokerage firm Edward Jones and the former head of its municipal underwriting desk have agreed to settle charges that they overcharged customers in new municipal bonds sales. It’s the SEC’s first case against an underwriter for pricing-related fraud in the primary market for ...
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Malvern Federal Savings Bank Appoints Chief Risk Officer
Malvern Federal Savings Bank, the wholly owned subsidiary of Malvern Bancorp, announced the appointment of William Woolworth as chief risk officer. Prior to joining Malvern Federal, he served in the positions of director of enterprise risk management, chief auditor and chief compliance officer for Customers Bank. More inside.
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Companies Continue Shift Toward Restricted Stock Awards
Large public companies continue their shift away from stock options toward restricted stock in 2014, according the latest annual analysis by PwC of stock compensation assumptions and disclosures.
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Benchmark Report Shows Latest Trends in Training Programs
A new report conducted by NAVEX Global offers fresh benchmarking data for ethics and compliance officers looking to see how their training program, objectives, and challenges compare to their peers. Among the findings: employee cynicism and fear of retaliation for speaking up about misconduct are the top two challenges to ...
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Ex-SAP Executive Pleads to FCPA Charges
The Justice Department and SEC jointly announced an enforcement action on Wednesday against a former executive of SAP International for violations of the Foreign Corrupt Practices Act by bribing officials in Panama to win government contracts. Vicente Eduardo Garcia, 65, will pay damages totalling $92,300 and faces sentencing later this ...
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U.K. Financial Regulator Explains the New Accountability Rules
Image: The Financial Conduct Authority released “near final rules” which shows how it will apply the new accountability regimes that hold employees accountable for misconduct in U.K. branches of overseas banks. These rules further explain the FCA’s accountability reform announcement last month that zeroes in on top executives at U.K. ...
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Huntington Ingalls Industries Names Chief Accounting Officer
Huntington Ingalls Industries, a military shipbuilding company, has promoted Nicolas Schuck to the position of controller and chief accounting officer, effectively immediately. More inside.
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Former Cigna Chief Compliance Officer Joins Voya Financial
Voya Financial announced this week that it has appointed Trish Walsh as chief legal officer, effective Sept. 14. In this role, Walsh will oversee all aspects of Voya's law, compliance and external affairs department, serving as an advisor to senior management and the board of directors on legal, compliance, securities ...