All Manufacturing articles – Page 6
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TriMas chief compliance officer departs
TriMas, a manufacturer of engineered and applied industrial products, announced Joshua Sherbin, senior vice president, general counsel and chief compliance officer, is leaving the company.
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ArticleH.B. Fuller avoids fine in OFAC Iran sanctions probe
Adhesive manufacturing company H.B. Fuller said in a regulatory filing it received a “cautionary letter” from the Office of Foreign Assets Control concerning possible economic sanctions dealings in Iran.
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ArticleOFAC fines Indonesian manufacturer $1M in North Korea sanctions case
The Office of Foreign Assets Control announced a $1.02 million settlement with paper products manufacturer PT Bukit Muria Jaya for lapses in its compliance procedures that led to 28 apparent violations of North Korea sanctions.
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RPM, chief compliance officer to pay $2M for accounting violations
RPM International and its general counsel and chief compliance officer have agreed to a $2 million settlement with the SEC for accounting and disclosure rules violations relating to a prior DOJ investigation.
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Bombardier appoints general counsel
Canadian transportation manufacturer Bombardier announced the appointment of Annie Torkia Lagacé as senior vice president, general counsel and corporate secretary.
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ArticleFive compliance triumphs from 2020
CW reveals its list of five compliance wins from the year, including Samsung for its honesty, Volkswagen for successfully wrapping up its monitorship, 3M for stellar ethics, and more.
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Whirlpool adds new legal chief
Kitchen and laundry appliance manufacturer Whirlpool Corp. announced Ava Harter will join the company as senior vice president and chief legal officer, effective Dec. 1.
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ArticleSEC charges Manitex, three former execs with accounting fraud
The SEC has brought charges against Manitex International and three of its former senior executives for engaging in accounting fraud that resulted in the issuance of materially misstated financial statements.
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ArticleTwo companies charged in landmark SEC data analytics cases
A new risk-based data analytics initiative at the SEC has been credited for forming the basis of charges against two publicly traded companies for improper reporting of quarterly earnings per share.
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ArticleInternal whistleblower exposes fraud at Illinois engine manufacturer
An internal whistleblower exposed a scheme by three executives of a Chicago-area engine manufacturer to improperly inflate revenue and cover their tracks by lying to company accountants and independent counsel.
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Orion Engineered Carbons appoints chief accounting officer
Orion Engineered Carbons, a worldwide supplier of specialty and high-performance carbon black, announced it has appointed Bob Hrivnak as chief accounting officer.
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ArticleBorgWarner fined $950K by SEC for downplaying asbestos liabilities
Car parts manufacturer BorgWarner has agreed to pay $950,000 as part of a settlement with the SEC for allegedly failing to calculate and report $700 million in future asbestos liability claims.
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ArticleEight years later, Zimmer Biomet FCPA case ends
Zimmer Biomet Holdings disclosed in a regulatory filing it has reached the end of its monitorship, eight years after resolving parallel settlements with the DOJ and SEC for violations of the Foreign Corrupt Practices Act.
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ArticleWhitford to pay $824K for sanctioned dealings in Iran
Cookware coating manufacturer Whitford Worldwide has agreed to pay $824,314 as part of a settlement with OFAC regarding subsidiary dealings in the sanctioned country of Iran.
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TPI Composites appoints chief accounting officer
Wind blade manufacturer TPI Composites announced the hiring of Adan Gossar as chief accounting officer.
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ArticleWhen manufacturing new product lines, be aware of new compliance risks
As companies around the world begin to manufacture products outside their comfort zone to address dire shortages in personal protective equipment amid the pandemic, compliance practitioners are negotiating new risks and challenges.
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ON Semiconductor brings back former chief accounting officer
ON Semiconductor announced the appointment of Bernard Colpitts Jr. as chief accounting officer. Colpitts returns to the manufacturer after departing in late 2019 to serve as chief accounting officer at GameStop.
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Compliance best practices for ever-evolving Iran sanctions
A new executive order issued in January places additional sanctions on a much broader portion of Iran’s economy and, from a compliance and risk management standpoint, puts a broader range of companies in the crosshairs of U.S. enforcement.
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ArticleNewell Brands facing SEC subpoena over sales, accounting practices
Newell Brands disclosed in a regulatory filing it is facing a Securities and Exchange Commission subpoena over its sales and accounting practices, particularly related to the impairment of goodwill and other intangible assets.
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Westlake Chemical promotes accounting chief
Westlake Chemical has appointed Johnathan Zoeller to serve as vice president and chief accounting officer. Zoeller’s appointment will become effective upon the retirement of his predecessor, George Mangieri, at the end of March.