Appointment Blogs | Compliance Week – Page 273
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Pension Funds Ask SEC for Board Diversity Rule
A coalition of state treasurers and pension funds has petitioned the SEC for new disclosure requirements on board diversity. They want a new rule that adds gender, racial, and ethnic diversity data to current disclosures dictated by Regulation S-K, which only requires companies to identify the minimum skills, experiences, and ...
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EU Antitrust Regulators Focus on e-Commerce
Image: The European Union is looking into the possible breach of antitrust laws in e-commerce practices. The inquiry may lead to enforcement actions against companies that restrict online sales and “abuse” their dominant position in the market. Margrethe Vestager, the EU’s antitrust chief, said that although the investigation will produce ...
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FASB Votes for One-Year Deferral on Revenue Recognition
Image: FASB will propose a one-year delay in the effective date of its new revenue recognition standard, while allowing adoption of the original effective date for companies ready to move forward. FASB member Daryl Buck, though initially skeptical of a delay, said, “It would be very difficult to expect [media ...
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Bank of England and ECB Reach Deal on Financial Stability
The Bank of England and the European Central Bank have ended a four-year saga over the City of London’s clearinghouses, which required that these offices be near the Eurozone so they can be easily monitored in the event of an emergency. Under the agreement the BoE will provide the ECB ...
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Century Aluminum Appoints Chief Accounting Officer
Century Aluminum, a producer of primary aluminum, has hired Stephen Heyroth as controller and chief accounting officer.
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Sustainability Group Issues Standards for Resource Transformation Sector
The Sustainability Accounting Standards Board issued its latest set of standards, this time for companies in the resource transformation sector to help them improve disclosure of environmental, social, and governance risks. The standards represent the seventh set in a planned industry-focused series of sustainability standards. Details inside.
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Setting Objectives for Risk Avoidance, Value Creation
One criticism of the Three Lines of Defense model is that it dwells too much on risk mitigation, and too little on risk opportunity. If you connect the Three Lines model to the COSO framework for internal control, however, a more elegant appreciation of risk management emerges. Inside, columnist Jose ...
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TD Bank Names Head of Enterprise Risk Management
TD Bank has promoted Tom Longstroth to head of enterprise risk management. Details inside.
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CFTC Gives CCOs Extra 30 Days to File Annual Reports
The Commodity Futures Trading Commission will give compliance officers an additional 30 days to file the annual reports required of swap dealers and major swap participants. The reports—which include an assessment of compliance resources and challenges—were initially due within 60 days of the fiscal year’s end. More inside.
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SEC in the Movies: The Other Guys, Wall Street, Fletch ... What Else?
Recently, as my kids were watching Will Ferrell's movie, The Other Guys (2010), I learned that the film includes a scene in which Ferrell and his police partner, Mark Wahlberg, make a visit to the SEC to turn evidence over to a investigator. In the clip below, Ferrell tells the ...
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Netflix Appoints Two New Board Members
Netflix, an Internet television network, has appointed Anne Sweeney, recently co-chair of Disney Media Networks and president of Disney-ABC Television at the Walt Disney Co., and Brad Smith, general counsel, legal and corporate affairs at Microsoft, to its board of directors. Details inside.
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Newell Rubbermaid Appoints General Counsel and Corporate Secretary
Newell Rubbermaid this week appointed Bradford Turner as general counsel and corporate secretary, effective April 1. He will serve on the company's executive leadership team and will report directly to Newell Rubbermaid President and Chief Executive Officer Michael Polk. Details inside.
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PCAOB Reorganizes Auditing Standards by Topic
The PCAOB is reorganizing its audit standards, integrating standards the board wrote with historical standards it adopted on an interim basis under Sarbanes-Oxley. “The standards will be organized by topics that generally follow the flow of the audit process, making their use easier and more efficient for auditors,” said PCAOB ...
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BSI SA to Pay $211 Million Penalty Under Swiss Bank Program
BSI SA, one of the 10 largest private banks in Switzerland, this week became the first bank to reach a resolution under the Department of Justice’s Swiss Bank Program, which provides a means for Swiss banks to resolve potential criminal liabilities in the United States. BSI will pay a $211 ...
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SEC Punts Extraction Payments Rule to 2016
Image: The SEC says it will not issue a proposal requiring oil gas, and mining companies to disclose payments made to governments until spring of 2016. “We’re surprised and disappointed that the SEC would push back its timeline yet again,” said Ian Gary, senior policy manager, extractive industries for Oxfam ...
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Hearsay Social Unveils New Mobile Apps for iPhone and Android
Hearsay Social, provider of the Predictive Social Suite for financial advisors and insurance agents, last week announced the launch of new mobile applications for iPhone and Android. These applications enable financial professionals to use the new Predictive Social Suite to compliantly engage with their clients and prospects via Facebook, LinkedIn, ...
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Petrobras Nominates Vale CEO as Chairman
Brazilian state-owned oil company Petrobras last week nominated Murilo Ferreira, chief executive officer for global mining company Vale, as its new chairman. The nomination comes at a time when the company faces several investigations for its involvement in a widespread money-laundering scandal. Details inside.
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Plug Power Names Chief Accounting Officer
Plug Power, a provider of clean, reliable energy solutions, has named Martin Hull as chief accounting officer, effective April 1. He assumes this role from Jill McCoskey. Details inside.
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Ipsen Names Chief Ethics and Compliance Officer
Pharmaceutical company Ipsen has appointed Dominique Laymand as chief ethics and compliance officer for the Ipsen group, effective as of March 16. She will report directly to Chairman and CEO Marc de Garidel. Details inside.
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PG&E Names Chief Ethics and Compliance Officer
As part of its commitment to achieving a best-in-class ethics and compliance program, PG&E has appointed Julie Kane to the newly created position of chief ethics and compliance officer, effective May 18. She will report to CEO and President Tony Earley, with additional reporting responsibility to the audit committee of ...