Appointment Blogs | Compliance Week – Page 248
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Vantage Drilling Company Self-Reports FCPA Probe
Offshore drilling contractor, Vantage Drilling Company, announced this month in a filing with the Securities and Exchange Commission that it has launched an internal investigation into potential violations of the Foreign Corrupt Practices Act. Vantage said it is investigating allegations in connection with an agent's "role in obtaining bribes on ...
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CAQ Names Senior Director of Professional Practice
The Center for Audit Quality has hired Catherine Nance as senior director of Professional Practice. In her new role, Nance will lead the CAQ’s regulatory and public policy initiatives and activities. Details inside.
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Standard Chartered Beefs Up Efforts to Combat Financial Crime
London-based Standard Chartered today announced a trio of appointments as the banking giant continues to beef up its efforts to combat financial crime following multiple enforcement actions by U.S. enforcement authorities in 2012. One of those appointments includes a new head of sanctions compliance. Details inside.
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Standard Chartered Names Group Chief Risk Officer
Standard Chartered Bank has appointed Mark Smith as its new group chief risk officer, based in London. Pam Walkden will continue as interim group chief risk officer until Smith joins the bank in January 2016. Details inside.
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Prudential Names Chief Risk Officer
Prudential has appointed Penny James as group chief risk officer and as an executive director on the Prudential board, effective Sept. 1. She succeeds John Foley, who had taken on the additional role of group chief risk officer in June on an interim basis, following the departure of Pierre-Olivier Bouée. ...
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VNA Homecare Appoints Corporate Compliance Officer
VNA Homecare has appointed Dawn Richey as corporate compliance officer. She previously served as manager of Emergency Preparedness at Crouse Hospital. Details inside.
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Piwowar Jabs Again at Pay Ratio Rule
Image: SEC Commissioner Michael Piwowar has taken the rare step of publishing a second statement opposing the newly adopted pay ratio disclosure rule (not to be confused with his first statement of outrage last week). The length and tone of the statement add fuel to the theory that his criticisms ...
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New OCC Task Force on Banking Innovation
Image: The Office of the Comptroller of the Currency is pulling together a team to consider the regulatory implications of advances in banking technology. “We’re still early in the process, so I can’t tell you exactly where we’ll end up,” OCC director Tom Curry said. He did float the idea ...
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Beware the 'SEC Impersonator' Scams Targeting Your Money
You might not think that fraudsters impersonating the SEC would be a significant or ongoing problem but the volume of the SEC's "Investor Alerts" on this topic would seem to suggest otherwise.
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SEC Alleges Accounting Fraud at Miller Energy Resources
The Securities and Exchange Commission is alleging that the former chief financial officer and current chief operating officer of Miller Energy Resources, an oil and natural gas production company, inflated values of oil and gas properties, resulting in fraudulent financial reports for the Tennessee-based company. The audit team leader ...
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Deadline Nears to Weigh in on New Operating Activities Presentation
Image: FASB has issued three sets of frequently asked questions about its proposal to alter the presentation of financial statements for not-for-profits. The proposal would “dramatically change” several areas of reporting, especially around operating activities, says Beth Paul, a partner with PwC. “Given FASB has similar projects on the agenda ...
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The End: Prosecutors Wrap Up Case Against Final Madoff Defendant
Yesterday, over six years after the criminal case began in the Bernard Madoff Ponzi scheme case, the Madoff firm's long-time controller, Irwin Lipkin, was sentenced to six months in prison. Lipkin is the 15th -- and final -- defendant to be prosecuted in the Madoff case.
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AICPA Moves Closer to Audit Data Standards
Image: The AICPA has finalized two audit data standards for sub-ledgers, focused on order to cash and procure to pay. Companies that voluntarily adopt such standards, which provide a framework covering data fields and files commonly requested by auditors, could find the work to fulfill auditors’ file requests trimmed from ...
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SEC Sets Swap Dealer Registrations, 'Bad Actor' Waiver Battle Looms
The easy part: adopting new rules and a process for the registration of security-based swap dealers and major security-based swap participants. More controversial, is a new proposal, announced by the Securities and Exchange Commission on Wednesday, to give swap dealers the ability to do business with individuals and firms convicted ...
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IFAM Capital Names John Lauer CCO, COO
IFAM Capital, a wealth management firm, has announced the appointment of John Lauer has been as its new chief operating officer and chief compliance officer.
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Bartlett Named Managing Partner for EY’s Honolulu Office
Jeff Bartlett has been named the managing partner for EY’s Honolulu office. Bartlett will be responsible for continuing to grow the practice, managing resources and overseeing client service in the Hawaii market.
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ACADIA Pharmaceuticals Names New CCO
ACADIA Pharmaceuticals, a biopharmaceutical company based in San Diego, has named Ryan Brown as a vice president and chief compliance officer. Brown will be responsible for developing, implementing, and managing the company’s corporate compliance program to support the planned commercialization of a treatment for psychosis associated with Parkinson’s disease.
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SEC Adopts Divisive Pay Ratio Rule
The Securities and Exchange Commission’s pay ratio rule is now final, approved by a 3-2 vote on Wednesday. The rule requires a comparison of CEO pay to the compensation of the median employee. Concessions to corporate concerns include the ability to exclude up to 5 percent of non-U.S. employees when ...
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SEC Confirms Expansive View on Whistleblower Protections
The SEC has published fresh guidance on who qualifies for whistleblower protections under the Dodd-Frank Act, essentially confirming the view that a person is not required to report misconduct to the SEC’s Office of the Whistleblower to qualify for the expanded anti-retaliation protections under the law. Compliance officers should welcome ...
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Report: U.K. Regulator’s Victory in the Libor Scandal
Image: Tom Hayes, once a “star trader” at UBS and Citigroup and the first to stand trial in the Libor scandal, has been charged with eight counts of conspiracy to manipulate Libor and will serve 14 years in prison. This case serves as a major turning point for the U.K. ...