All Government articles – Page 43
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ArticleProposed bill targets FASB rulemaking procedures
Rep. Blaine Luetkemeyer (R-Mo.) on Friday introduced a bill that would subject the Financial Accounting Standards Board to the rulemaking guidelines of federal financial regulators.
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ArticleHerbalife fined $20M for misleading investors
Herbalife will pay $20 million to settle charges with the SEC that it made false and misleading statements about its China compensation model.
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ArticleMylan finalizes $30M EpiPen settlement with SEC
Mylan has finalized a previously disclosed $30 million settlement with the SEC for alleged accounting and disclosure failures surrounding its popular EpiPen.
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DOJ launches new process for filing documents under FARA
The Department of Justice recently announced a new online system for filing, storing, and searching registrations under the Foreign Agents Registration Act.
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ArticleEricsson reserves $1.2B in FCPA case; speaks candidly on compliance program
Ericsson announced it has set aside $1.2 billion to resolve a long-running FCPA investigation that spans several geographies. CEO Börje Ekholm spoke candidly about the shortcomings of the company’s ethics and compliance program and how it’s addressing them.
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SEC, Libra called out at House Financial Services hearing
At the first get-together of all five SEC commissioners at a Congressional hearing since 2007, House Financial Services Committee Chair Maxine Waters said the regulator “is not fulfilling its mission as Wall Street’s cop.”
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ArticleNissan pays $15M for financial misconduct; CEO and CCO resign
Nissan will pay a $15 million civil penalty over false financial disclosures, the SEC announced. The charges come the same month the carmaker’s latest CEO resigned, along with its vice president of internal audit and chief compliance officer.
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SEC: PwC to pay $8M for auditor independence violations
PwC will pay approximately $8 million in monetary relief to settle charges with the SEC for allegedly violating auditor independence rules and engaging in improper professional conduct.
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ArticleHouse approves PCAOB whistleblower program
The U.S. House of Representatives has passed a bill to move the creation of a whistleblower program at the PCAOB forward. While some praised the development, others cautioned it’s a redundant and flawed measure.
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CFPB’s Consumer Complaint Database gets a second chance
Will improvements to the CFPB Consumer Complaint Database, acknowledged by the CFPB director as the “government’s version of Yelp,” help institutions ward off disgruntled consumers?
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Facebook’s Zuckerberg schmoozes with Trump, lawmakers
Facebook CEO Mark Zuckerberg met with about a half dozen senators at a dinner this week before visiting the White House to meet with President Trump. The key focus of the visit: discussing the future of internet regulation.
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FDIC paves way for rollback of initial swap margin requirements
The move to ditch the requirement that insured depository institutions collect initial margin from affiliates is being praised by regulators for bringing the U.S. into alignment with other countries and freeing up $39.4 billion in collateral.
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ArticleSEC charges ICOBox for unregistered offering, broker activity
The SEC has filed a lawsuit against cryptocurrency startup ICOBox, a California company in the business of facilitating other companies’ ICOs, and its founder for conducting an illegal securities offering of its digital tokens and for acting as unregistered brokers for other digital asset offerings.
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ArticleCompliance failures lead to $15M penalty for Raymond James
A series of compliance failures have resulted in three Raymond James entities being fined $15 million by the SEC over improper charges of advisory fees and excess commissions.
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ArticleSEC revisiting decades-old bank disclosure guide
The SEC is seeking public comment on proposed updates to statistical disclosures for bank and savings and loan registrants.
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ArticleEcuador to expedite privacy law following massive breach
The Ecuadorian government has given itself 72 hours to finish drafting a national privacy law following a massive data breach that put the personal information of perhaps its entire population at risk.
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ArticleTwo broker-dealers to pay $4.65M for providing deficient ‘blue sheet data’
Two broker-dealers must pay a combined $4.65 million in penalties for providing incomplete and inaccurate securities trading information to the SEC. Prudent compliance officers might want to take a page from their remedial efforts.
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ArticleLast-minute CCPA changes strike business-friendly tone
Recently approved tweaks to California’s upcoming privacy law don’t change the fact compliance prep should already be well underway, experts say.
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ArticleThird Cognizant executive settles FCPA charges
A third former executive at Cognizant has settled charges with the SEC for violating the FCPA by participating in a scheme to bribe an Indian government official.
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ArticlePrudential subsidiaries to pay $33M for misleading disclosures
The SEC has charged two subsidiaries of Prudential Financial with failing to disclose conflicts of interest and making misleading disclosures to the boards for 94 funds they advised.