Appointment Blogs | Compliance Week – Page 296
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Hearsay Social Launches New Social Media Compliance Capabilities
Hearsay Social, a social business platform provider for the financial services industry, this week launched new capabilities for its Compliance Solution, providing improved efficiency and control for compliance teams and the financial professionals whom they supervise. Details inside.
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'Laws of the Land' Finally Catching Up to Former Satyam CEO, Part II
In July 2014, I noted here that although it had taken over five years, the wheels of justice were finally in motion against B. Ramalinga Raju, former chairman and CEO of Satyam Computer Services, as India's securities regulator had ordered Raju, his brother, and two others to disgorge $307 million. ...
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Metrics Misused: The Executive Pay Example
The complaint is a common one in governance circles: everyone talks about the importance of long-term value, and then follows the market’s mantra for short-term results. Why? Executive compensation tied to the wrong metrics doesn’t help. Inside, Compliance Week columnists Stephen Davis and Jon Lukomnik pick apart the fallacy of ...
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Verizon Names New General Counsel
Verizon Communications has named Craig Silliman, currently senior vice president of public policy, to executive vice president of public policy and general counsel. Effective Jan. 1, 2015, he will succeed Randal Milch, who has been appointed to a new position as strategic policy adviser to Lowell McAdam, Verizon’s chairman and ...
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Brinker International Names General Counsel, Corporate Secretary
Brinker International, a casual dining restaurant company, has named Scarlett May as general counsel and secretary of the company, effective Dec. 15, 2014. Details inside.
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Brazil’s Anti-Corruption Head Resigns
Brazil’s anti-corruption obstacles continue to escalate, following the resignation this week of the federal government’s head of anti-corruption, amid a corruption probe unfolding against Brazilian state-owned oil company Petrobras. Hage’s resignation comes as eight engineering and construction companies that held contracts with Petrobras face allegations that they took part in ...
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Janus, COSO, FCPA Compliance and Enforcement
The U.S. Sentencing Guidelines have long been one path to kinder treatment from the Justice Department for FCPA violations. On the civil side enforced by the SEC, something similar may be emerging: the COSO 2013 framework for effective internal control. How different are those two paths? Not as much as ...
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SEC, PCAOB Deliver Fresh Warnings on Auditor Independence
Dec. 9—Public companies have been handed a not-so-subtle reminder to pay closer attention to auditor independence. At the annual AICPA conference this week, the SEC announced it had sanctioned eight audit firms with fines totaling $140,000 for violating auditor independence rules because they prepared financial statements of brokerage firms whose ...
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BlogSEC Declining to Comment (in Letters)
The number of SEC comment letters regarding 10-Ks and 10-Qs issued during the first six months of 2014 decreased about 25 percent compared to the same period in 2013, according to Audit Analytics. In our latest guest post from the firm, Audit Analytics look at the most comment types of ...
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PCAOB Finds No Big Improvement in 2014 Inspections
Image: The Public Company Accounting Oversight Board will soon offer a peek at 2014 inspection findings, but you won’t see much improvement, said Chairman James Doty. The board has delivered consistently tough marks to the major audit firms in recent years, calling for better audit work on such items as ...
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Google Will Pay $19M to Settle FTC Complaints
The Federal Trade Commission has approved a final order resolving allegations that Google unfairly billed consumers for in-app charges that were made by children without their parents’ consent. Google will set aside $19 million in restitution and contact all all affected consumers within 15 days.
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SEC Explores Possible Option to Report Under IFRS
Image: The Securities and Exchange Commission is exploring whether to provide U.S. companies with the option to present their financial statements under International Financial Reporting Standards, SEC Chief Accountant James Schnurr said last week. Schnurr is studying the staff’s historical work on a possible adoption of IFRS, and reaching out ...
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Sears Holdings Elects New Board Member
Sears Holdings has appointed Kunal Kamlani to its board of directors. Kunal until recently served as president and chief operating officer of Prestige Cruise Holdings, where he was responsible for both the Oceania Cruises and Regent Seven Seas Cruises brands. Details inside.
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Halliburton Names New Board Member
Halliburton has named Abdulaziz Al Khayyal to the company’s board of directors, effective as of Dec. 4, 2014. Details inside.
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Tenet Healthcare Appoints New Board Member
Tenet Healthcare has appointed Freda Lewis-Hall, executive vice president and chief medical officer of Pfizer, as a new independent director. With her appointment, Lewis-Hall becomes the board’s tenth member. Details inside.
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E*TRADE Financial Names New Board Member
E*TRADE Financial has appointed Shelley Leibowitz to its board of directors and the risk oversight committee, effective Dec. 10, 2014. Details inside.
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After Three Years, SFO Obtains First Convictions Under U.K. Bribery Act
It took more than three years, but Britain’s Serious Fraud Office has finally obtained its first convictions under the U.K. Bribery Act. According to the SFO, two men have been found guilty of conspiring to use false e-mail addresses to produce bogus sales invoices, an offense uncovered by an investigation ...
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McCormick Names Corporate Secretary
McCormick & Company has appointed Jeffery Schwartz to the role of general counsel and corporate secretary, effective as of Dec. 1, 2014. Details inside.
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Enumeral Appoints New Board Member
Enumeral Biomedical Holdings has appointed Robert Van Nostrand to its board of directors. Details inside.
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SL Green Realty Names Chief Accounting Officer
SL Green Realty, a commercial properties company, has named Maggie Hui as chief accounting officer, effective Jan. 1, 2015. Hui succeeds Matthew DiLiberto, who assumes his new position as SL Green’s Chief Financial Officer on the same date. Details inside.