All articles by Joe Mont – Page 33
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Blog
SEC releases first fee rate advisory for FY 2018
The SEC has announced the new rate for fees that public companies and other issuers pay to register their securities. The rate, for fiscal year 2018, is $124.50 per million dollars.
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Killing the SEC and other plans to redraft regulatory agencies
The Competitive Enterprise Institute has responded to a White House Executive Order with new proposals to redraft and refocus regulatory agencies. Eliminating the SEC and FDIC are among the not-so-modest proposals.
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CMS considers trimming medical care rulebook
CMS, the agency that administers Medicare and other health insurance programs, is talking to medical professonals in an effort to reduce burdensome and unecessary rules, says Administrator Seema Verma.
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EPA head urges cattlemen to denounce WOTUS rule, support repeal
EPA Administrator Scott Pruitt appears in a new video that urges the nation’s cattlemen to support and comment on a proposal to repeal the controversial Waters of the United States rule.
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A dire warning from White House’s cyber-security advisers
The National Infrastructure Advisory Council, a cyber-security task force that advises the White House, says national cyber-security efforts are “falling short," in a new report. It provides recommendations for both the public and private sectors.
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Icahn bids adieu as Trump’s unofficial deregulation guru
Pressured by allegations of conflicts of interest, billionaire investor Carl Icahn has resigned from his role as a special advisor to President Donald Trump on deregulatory efforts.
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OCC issues higher-loan-to-value lending guidance
The Office of the Comptroller of the Currency has released new guidance intended “to spur community revitalization" with the prudent and appropriate use of higher-loan-to-value lending.
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Scam and money laundering puts former Wells Fargo manager in jail
A former Wells Frago bank manager is headed to jail for his role in a $1.66 million mass mailing scam that was facilitated with a money laundering scheme.
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Medical device CEO convicted of $750 million securities fraud
A federal jury has convicted the former chief executive officer of a publicly traded medical device compan for his role in orchestrating a fraud scheme that led to $750 million in shareholder losses.
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Mylan will pay $465 million to resolve False Claims Act liability
Mylan, maker of the EpiPen, has agreed to pay $465 million to settle Department of Justice allegations that it violated the False Claims Act by misclassifying the epinephrine injector as a generic drug to avoid paying Medicaid rebates.
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Hedge fund adviser charged with inadequate insider trading controls
A hedge fund advisory firm has agreed to pay more than $4.6 million to settle SEC charges that it had inadequate policies and procedures to prevent the misuse of inside information, including information about confidential government decisions.
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NLRB compliance officer fabricated victims, stole from compensation fund
A former NLRB compliance officer pleaded guilty this week to charges he stole more than $400,000 from an agency fund he oversaw that was intended to distribute funds to employees victimized by labor law violations.
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Article
Another delay in fiduciary rule could result in substantial revision
The Labor Dept. wants a substantial delay for remaining compliance milestones in its fiduciary rule. What happens in the interim?
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Another CCO settles with SEC over negligence of duties
The SEC has announced another settlement with a former CCO over alleged negligence. The settlement, reached on Aug. 15 also offers a caution about retaining third party compliance services.
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Article
Get your bad-boy groove back
Acceptance at the upper levels of a company is great for integrating compliance with business development and strategy. But don’t lock up the “Department of No” just yet.
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Basel AML index: countries still fall—sometimes severely—short
The annual Basel Anti-Money Laundering Index, a ranking of 146 countries regarding money laundering risks, is out. The findings show that plenty of work on the issue remains to be done.
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Compensation for outside corporate directors is stabilizing
A recently released analysis by Willis Towers Watson fiinds that the total compensation for outside corporate directors is rising, but only at an average pace of 2 percent in 2016.
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After CEO defections, Trump ends White House business forums
Amid an exodus of CEOs, President Trump, under fire for post-Charlottesville remarks, is ending two White House forums that advised him on economics and manufacturing.
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Republican governors serve CFPB director with FOIA demands
Republican governors have served CFPB Director Richard Cordray with another Freedom of Information Act request in an effort to prove a Hatch Act violation.
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New SEC chair gets new demands for political contribution disclosures
With a new SEC chairman, a new push is underway to have a fresh consideration of a disclosure rule covering political contributions made by public companies.