Appointment Blogs | Compliance Week – Page 81
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The board's role in hiring senior executives
The Man From the FCPA asks, “What is the role of a board of directors in hiring senior executives, chief compliance officers, and even other board members?” Both fiduciary risk and exposure for the board of directors cannot be overlooked.
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Boards and their own succession planning
What is the board’s role in succession planning? At a bare minimum, a board should assure there is a pipeline of qualified candidates for its own succession planning.
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CAQ offers tips to audit committees on leasing
The Center for Audit Quality is offering some tips to audit committees on how to query senior management regarding readiness for new lease accounting standards.
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Knorr, Wabtec must end ‘no-poach’ agreements
The Department of Justice reached a settlement with rail equipment suppliers Knorr-Bremse and Westinghouse Air Brake Technologies (Wabtec) to resolve allegations that these companies had for years maintained unlawful agreements not to compete for each other’s employees.
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The importance of a transitional period in financial services
Financial Conduct Authority Chief Executive Andrew Bailey in a recent speech spoke about the importance of a transitional period for the financial services industry concerning Brexit. A key issue, he said, is the need for continuing authorisation for firms that are undertaking cross-border business between the United Kingdom.
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FASB addresses feedback to lease, hedge proposals
FASB has reached some preliminary decisions about how it will revise rules on lease accounting and hedging to address implementation questions.
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SEC answers questions on XBRL for IFRS filers
Foreign private issuers who file their financial statements following IFRS are getting some helpful tips from the SEC on how to do so in XBRL.
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Singapore, financial industry to develop guide on ethical use of AI
The Monetary Authority of Singapore is working with key industry stakeholders to develop a guide to promote the responsible and ethical use of artificial intelligence and data analytics by financial institutions.
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Waddell & Reed names chief compliance officer
Asset management firm Waddell & Reed Financial has appointed Elizabeth Hansen as senior vice president and chief compliance officer of distribution subsidiaries Waddell & Reed and Ivy Distributors.
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GAO looks at practicalities of SEC’s climate-related disclosures
The Government Accountability Office, the research arm of Congress, has issued a new analysis of the SEC's disclosure requirements regarding material climate-related risks.
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Barclays to pay $2B in mortgage-backed securities fraud case
Barclays Capital will pay $2 billion in civil penalties to resolve claims for fraud in the sale of residential mortgage-backed securities, and two former Barclays executives will pay $2 million to resolve claims brought against them individually.
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Outgoing FDIC official shares blunt view of ‘Too Big to Fail’ and bank regulation
As part of his farewell tour, Thomas Hoenig, the departing vice chairman of the Federal Deposit Insurance Corporation, used a recent speech to candidly address the challenge of balancing prudential standards and regulatory initiatives when attempting to end big bank bailouts.
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Aegis Capital, compliance officers resolve cases with FINRA, SEC
Aegis Capital must pay a $550K fine to the Financial Industry Regulatory Authority, and a $750K penalty to the SEC for failing to have adequate supervisory and anti-money laundering programs in place. Two Aegis CCOs were found to have aided and abetted the violations.
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World Bank debars medical-device company, two others
The World Bank has debarred three companies and reached a settlement with one company concerning sanctionable practices under projects in Bangladesh, India, and Timor-Leste.
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LyondellBasell appoints chief accounting officer
LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, has named Jacinth Smiley its chief accounting officer, effective April 2. Smiley will report to Chief Financial Officer Thomas Aebischer.
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After audit, IRS agrees to revisit Schedule UTP
Encouraged to modify or do away with the filing entirely, the IRS is taking a look at how it might revise Schedule UTP regarding uncertain tax positions.
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IdentityMind is GDPR-ready
IdentityMindGlobal—a SaaS platform provider that builds, maintains, and analyzes digital identities worldwide—announced that it is now GDPR-ready in the run-up to the May 25 deadline of the EU General Data Protection Regulation.
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ABN AMRO chooses Wolters Kluwer and SAS to integrate finance, risk and reporting
ABN AMRO, the third largest bank in the Netherlands, has chosen Wolters Kluwer and SAS to provide a truly integrated finance, risk, and regulatory reporting software solution.
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Some troubling questions at Morgan Stanley
Allegations of domestic violence against one of Morgan Stanley's top producers raise larger questions about the firm's code of conduct, internal investigations, and compliance standards.
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Microsoft appoints European data protection officer
Microsoft has appointed Steve May as its European Data Protection Officer (DPO), in compliance with the European Union’s General Data Protection Regulation (GDPR).