Appointment Blogs | Compliance Week – Page 68
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Asking questions about your third-party process
When regulators come knocking, it’s important to have the right protocols in place. Knowing what questions to ask can be a big help to companies when implementing a third-party due diligence process.
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NY federal judge declares CFPB unconstitutional
With latest volley in ongoing debates over the constitutionality of the CFPB, a federal judge in New York ruled on Thursday that the Bureau’s current structure is unconstitutional.
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FASB issues new guidance on share-based payments
FASB has given companies new accounting guidance to follow when accounting for share-based payments to non-employees.
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Supreme Court rules states can collect tax from online sales
Tax departments could soon face a mountain of new activity to collect and remit state sales tax after the U.S. Supreme Court overruled longstanding case law.
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Former Bain Capital chief compliance officer joins Optima Partners
Alan Halfenger, formerly chief compliance officer at Bain Capital, has been named as a partner at global regulatory compliance advisory firm Optima Partners.
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SEC details strategic initiatives through 2020
The SEC has published a new plan that details its strategic priorities through Fiscal Year 2022.On the list: improved technology and data analysis and a focus on retail investors.
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BlogU.K. audit regulator rips quality at major firms
Audit regulators in the United Kingdom have taken off the gloves in their assessment of audit quality among the major firms, especially the Big 4.
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EU retaliates against U.S. steel, aluminum tariffs
The European Commission adopted on June 20 a regulation putting in place the EU’s rebalancing measures in response to U.S. tariffs on steel and aluminum. The measures will immediately target a list of products worth €2.8 billion (U.S. $3.2 billion) and will come into effect on June 22.
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SEC’s Clayton digs into the basics of company culture
SEC Chairman Jay Clayton used a speaking engagement this week to champion the need to establish a firm-wide culture of compliance.
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SEC: Merrill Lynch to pay $42M for misleading customers
The Securities and Exchange Commission on June 19 announced charges against Merrill Lynch for misleading customers about how it handled their orders. Merrill Lynch agreed to settle the charges, admit wrongdoing, and pay a $42 million civil penalty.
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Great Western Bancorp names chief risk officer
Great Western Bancorp has promoted Karlyn Knieriem to chief risk officer and executive vice president, effective immediately.
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EITF recommends asset treatment for some cloud costs
FASB’s Emerging Issues Task Force has arrived at conclusions about how companies should account for certain cloud computing arrangement costs.
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Trump threatens $200B in additional tariffs on China imports
On June 18, President Donald Trump directed the United States Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs, at a rate of 10 percent, on top of the already-imposed 25 percent tariffs on $50 billion worth of Chinese goods.
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Theranos founder charged in wire fraud scheme
A federal grand jury on June 14 indicted the former founder and chief operating officer of private healthcare and life sciences company, Theranos, arising from allegations that they engaged in a multimillion-dollar scheme to defraud investors, and a separate scheme to defraud doctors and patients.
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Two Roadrunner Transportation Systems execs charged in $245M securities fraud scheme
The Department of Justice has charged two former executives of Roadrunner Transportation Systems in an indictment unsealed on June 15 for their alleged participation in a complex accounting and securities fraud scheme that resulted in a loss of more than $245 million in shareholder value.
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Mergers and corporate culture
Big mergers are in the news, with the union of telecom giant AT&T and vast multimedia firm Time Warner and Comcast’s $65 billion bid for 21st Century Fox being just two examples. With the recent Justice Department emphasis on corporate culture, it will be interesting to see what this season ...
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No piling on requires global disclosure and cooperation
To receive the benefits of no piling on, companies must fully disclose their conduct and cooperate with regulators across the globe.
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Condos, corruption, and compliance
While President Trump promised condos in North Korea as a part of his negotiations with North Korean Supreme Leader Kim Jung Un, it doesn’t mean companies will have an easy time doing business in the country, which ranked as “highly corrupt,” on the 2017 Transparency International Corruption Perceptions Index.
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Phase 2 in third-party risk management: the questionnaire
An essential piece of third-party risk management is “the questionnaire,” which companies should garner on behalf of all their third-party relationships at the start of the union in order to move forward with all the anwers.
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What is due diligence?
Due diligence is key to getting your third-party risk management program off the ground.