Appointment Blogs | Compliance Week – Page 284
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Belgium Eyeing Arrest Warrants for HSBC Managers
It hasn’t been an easy week for London-based HSBC. Rocked last weekend by the International Consortium of Investigative Journalists’ Swiss Leaks probe, detailing massive tax evasion by HSBC’s private Swiss bank, HSBC is now faced with the prospect of Belgian authorities issuing arrest warrants for former and current managers ...
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EU Firms Face New AML Rules, Beneficial Ownership Registry
Image: Title: SargentiniThe European Union is pressing forward with its overhaul of anti-money laundering rules to clamp down on tax evasion and the financing of terrorism. The Council of the European Union signed off on the 4th Anti-Money Laundering Directive, tightening due diligence and reporting requirements, creating registers of beneficial ...
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Digital Turbine Names Chief Accounting Officer; Controller
Digital Turbine, an end-to-end mobile solutions provider, named James Alejandro as chief accounting officer and controller, effective Feb. 27. Alejandro, who joins the company from Dell, will assume the principal accounting and controls duties, among other responsibilities, and report directly to Chief Financial Officer Andrew Schleimer. Details inside.
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U.S. Announces New Intelligence Division to Battle Cyber Threats
The U.S. is establishing a new division called the Cyber-Threat Intelligence Integration Center that will produce coordinated cyber-threat assessments, share that information with existing cyber-centers, and support policy makers with timely intelligence about the latest cyber-threats. More inside.
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Study: Companies Taking Own Action on Clawbacks
Even ahead of any new clawback rules mandated by Congress or the SEC, companies are moving ahead themselves to add clawback provisions to executive compensation arrangements—and are swallowing some added accounting and financial reporting complexity to do so. PwC recently analyzed 100 large public companies and found 40 percent of ...
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Qualcomm to Pay $975 Million in China Antitrust Case
Chipmaker giant Qualcomm has agreed to pay a record $975 million fine to Chinese regulators and to make certain modifications to its business practices to resolve an antitrust investigation that began more than a year ago. “Although Qualcomm is disappointed with the results of the investigation, it is pleased that ...
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Slippery Slope of FCPA Enforcement Against Individuals
The compliance community has long hectored the Justice Department to prosecute more individuals, rather than corporations. Now we’re starting to see that happen, and a thicket of legal questions are arising. Inside, Compliance Week columnist Tom Fox gives a tour of the current landscape. What’s on the horizon is not ...
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Securities Veteran Joins Neal Gerber & Eisenberg
Law firm Neal, Gerber & Eisenberg has added David DeMuro as senior counsel in the firm’s securities litigation and regulatory practice. DeMuro joins Neal Gerber Eisenberg after serving more than 35 years in leadership roles at American International Group and Lehman Brothers, as well as the Securities and Exchange Commission. ...
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SEC Seeks New Disclosures When Directors Hedge Securities
A rule proposed by the Securities and Exchange Commission on Monday would require companies to disclose policies that allow directors and employees to hedge securities awarded as part of a compensation package. The intent is to inform shareholders if executives are permitted to purchase financial instruments that allow them to ...
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Qualcomm May Face $1 Billion Fine in China Antitrust Probe
Chinese regulators said this week that they’re in settlement talks with chipmaker giant Qualcomm, likely to face a fine of more than $1 billion to resolve an antitrust investigation that began more than a year ago. Xu Kunlin, head of China’s anti-monopoly regulator, said Qualcomm will be fined several times ...
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Three Ideas for Compliance, Audit, and Cyber-Security
Image: Wow! Sometimes you go to a panic party about cyber-security risk and an intelligent discussion breaks out. Such was the case for Compliance Week editor Matt Kelly, who hung out last week at a meeting of the New England Chief Audit Executives Club. Inside are his three lessons for ...
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SEC Ends Standoff With Big 4 China Affiliates
The SEC has settled its action against Big 4 affiliates in China that had stymied investigations into possible accounting fraud by refusing to hand over audit work papers. The SEC fined each of the Big 4 affiliates $500,000 while acknowledging that the firms eventually began providing documents.
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EXIGER Names Managing Director
EXIGER, a global regulatory and financial crime, risk and compliance firm, has appointed John Melican as managing director. He joins EXIGER from Bank of Tokyo-Mitsubishi UFJ, where he most recently was head of anti-money laundering, sanctions and anti-corruption compliance for the Americas. Details inside.
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Broadwind Energy to Pay $1 Million for Accounting Violations
Broadwind Energy, an alternative energy company, has agreed to pay a $1 million penalty to the SEC for accounting and disclosure violations. According to the SEC, Broadwind Energy prevented investors from knowing that reduced business from two significant customers caused substantial declines in the company’s financial prospects.
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UBS Faces Probe Over Tax Evasion Scheme
Federal regulators this week launched an investigation into whether Swiss bank UBS assisted U.S. clients in evading taxes or engaged in securities fraud. Prosecutors also are looking into whether any of the bank’s executives took part in any criminal activity to cover up the alleged conduct. Details inside.
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Dean Foods Names New General Counsel, Corporate Secretary
Food and beverage company Dean Foods has appointed Marc Kesselman as general counsel and corporate secretary, effective as of Jan. 26. He assumes this position from Rachel Gonzalez, who stepped down in September to accept a similar position at a publicly traded company. Details inside.
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Blue Cross Blue Shield Names General Counsel
The Blue Cross Blue Shield Association, a national federation of 37 independent, community-based and locally operated Blue Cross and Blue Shield companies, has promoted Scott Nehs to the role of general counsel and corporate secretary. Nehs was promoted to his current position after serving for three years as deputy general ...
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CA Technologies Appoints General Counsel
CA Technologies has appointed Michael Bisignano as general counsel. He reports to Chief Executive Officer Mike Gregoire. Details inside.
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Wells Fargo Advisors Names New Chief Compliance Officer
Wells Fargo Advisors, with $1.4 trillion in client assets, has named Jim McHale as chief compliance officer. His appointment follows an administrative proceeding instituted by the Securities and Exchange Commission in October against Wells Fargo's former compliance officer for allegedly altering a document before it was provided to the SEC ...
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Novae Names Group General Counsel
London-based insurance underwriting company Novae has appointed Alexandra Moon as group general counsel, effective immediately. She also joins Novae’s group executive committee, and will report to CEO Matthew Fosh. Details inside.