All Government articles – Page 37
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ArticleFederal banking regs ease hemp reporting requirements
New interagency guidance issued this week brings good news for compliance officers of banking institutions with hemp-related customers.
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ArticleRepublicans, Democrats spar over federal privacy bill
Republicans and Democrats have differing opinions on the rights and role of a federal privacy law, but both sides agreed at a Senate Commerce Committee hearing Wednesday the time to act is now.
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Technology at center of Clayton-moderated discussion at SEC
“Message received,” SEC Chairman Jay Clayton said as panelists at his discussion on global macroeconomic trends emphasized how technology is affecting markets and why regulators must lead rather than follow.
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Compliance called out in Liberty Tax DOJ settlement
The Department of Justice is requiring Liberty Tax Service to greatly enhance its internal compliance controls as part of a proposed settlement with the tax preparation service provider over allegations of fraud and misconduct.
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SEC adds two deputy chief accountants
The Securities and Exchange Commission announced the additions of John Vanosdall and Paul Munter as deputy chief accountants in the accounting group and international department, respectively.
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SEC names new cyber chief
The Securities and Exchange Commission announced the appointment of Kristina Littman as chief of the Division of Enforcement’s Cyber Unit.
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SEC bars former PCAOB leader for role in KPMG scandal
The Securities and Exchange Commission has barred Cynthia Holder from practicing as an accountant before the Commission for her role in the long-running KPMG inspections scandal.
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ArticleSenate Dems propose ‘clear as a bell’ U.S. privacy law
Senate Democrats have proposed a new federal data privacy bill that seeks to empower consumers and support their civil rights in the digital economy.
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SEC charges MiMedx Group with accounting fraud
Biotech company MiMedx Group and three of its former top executives have been charged with defrauding investors. In response, MiMedx reshuffled its management team, including the appointment of a new general counsel and secretary.
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ArticleBGC Financial to pay $3M for supervisory failures
BGC Financial was accused of various supervision, reporting, and recordkeeping violations that went on for more than five years in a $3 million enforcement action from the CFTC.
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ArticleDannenbaum Engineering overhauls compliance; fined $1.6M for campaign contributions
Dannenbaum Engineering and its parent company have agreed to pay a $1.6 million criminal fine for a scheme involving illegal campaign contributions. While the fine might not be significant, the compliance lessons are.
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ArticleSamsung Heavy Industries to pay $75M in foreign bribery case
Samsung Heavy Industries will pay total criminal penalties of $75.5 million to enforcement authorities in the United States and Brazil to resolve violations arising out of a bribery scheme in Brazil.
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ArticleCorporate Enforcement Policy revisions impact FCPA disclosure
The Department of Justice this month made a few minor adjustments to its Corporate Enforcement Policy that are worth a closer look, as these changes could impact when compliance officers and corporate counsel decide to self-report a potential Foreign Corrupt Practices Act violation.
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ArticleMore companies pointing finger at proxy advisory firms
A new survey from the U.S. Chamber of Commerce and Nasdaq says the number of companies identifying conflicts of interest at proxy advisory firms has almost doubled.
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ArticleRegulators wary of crypto as digital assets go mainstream
Federal agencies struggle to categorize digital coins as currency, securities, commodities, property, or something else—but even as they dither, some big companies strive forward in the digital assets arena.
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House passes bill requiring disclosure of diversity on corporate boards
If enacted, legislation on corporate board diversity would require the SEC to work on strategies to increase gender, racial, and ethnic diversity on corporate boards.
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ArticleSEC awards three whistleblowers $260,000
The SEC has awarded over $260,000 to three individuals who jointly submitted a tip alerting the agency to a well-concealed fraud targeting retail investors that led to a successful enforcement action. The whistleblowers were, themselves, harmed investors.
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SEC appoints chief counsel for the Division of Economic and Risk Analysis
The Securities and Exchange Commission has named Marie-Louise Huth as chief counsel for the Division of Economic and Risk Analysis.
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ArticleSEC sees slight decrease in number of whistleblower tips fielded
The Securities and Exchange Commission, in its annual report to Congress, indicated it fielded 5,212 whistleblower tips in fiscal year 2019, down 1 percent from the record of 5,282 in FY2018.
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ArticleSEC’s Clayton pushes modernization at UPenn speech
Touting the SEC’s recent accomplishments, Chairman Jay Clayton maintains modernization helps advance the regulator’s “tripartite mission” and gives some hints about next year’s agenda.