All United States articles – Page 189
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Former Herbalife execs charged with FCPA violations
The DOJ has charged two former executives of Herbalife with violations of the Foreign Corrupt Practices Act for bribing Chinese government officials for over a decade and then trying to cover up the illicit payments.
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FASB finalizes standard delays, including CECL
The Financial Accounting Standards Board has finalized long anticipated delays in effective dates for several accounting standards, including the controversial rule on credit losses.
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Survey: Data use, security among top audit risk areas
Research and advisory firm Gartner has released its annual “Audit Hot Spots” report, which reveals the three top risk areas for internal audit teams and chief audit executives in 2020.
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SEC investigating ProPetro’s financial disclosures
Oilfield services company ProPetro Holding announced the SEC has opened an investigation into its financial disclosures and reporting.
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Reports: Huawei dangles incentives to overcome U.S. sanctions
Chinese telecommunications giant Huawei is reportedly offering cash rewards to employees aiding its struggle against significant U.S. sanctions.
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ISS asks court to toss SEC proxy adviser guidance
In a lawsuit filed against the SEC, advisory firm ISS argues that, contrary to SEC opinion, proxy advice is not a solicitation under securities laws.
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Google, Ascension defend partnership amid federal inquiry
Criticism from lawmakers in addition to a federal inquiry regarding Google’s controversial partnership with Ascension has both the tech giant and the non-profit healthcare provider firing back.
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From sea to shining CCPA: Microsoft to extend privacy law across U.S.
In a blog post this week, Microsoft announced its intention to extend the core rights of the upcoming California Consumer Privacy Act to its customers across the United States.
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U.S. Supreme Court to consider appropriateness of SEC disgorgement
A case examining the meaning of “disgorgement” and whether the SEC can obtain it via a court order could affect a practice the regulator has used for decades.
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DOJ: Big Tech’s data collection creates ‘avenues for abuse’
The Department of Justice’s top antitrust official warns tech giants the government is being “extra vigilant” about sniffing out anticompetitive behavior deriving from mass data collection, mindful of its harmful effects on both users and competitors.
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ISS unveils 2020 policy updates
Proxy advisory firm Institutional Shareholder Services has released updates to its 2020 benchmark proxy voting policies. The updated policies will generally be applied for shareholder meetings on or after Feb. 1, 2020.
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Alstom exec convicted of FCPA, money-laundering charges
A former Alstom executive was found guilty by a federal jury for his role in a multi-year, multi-million-dollar foreign bribery scheme and related money-laundering scheme in Indonesia.
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CFTC whistleblower payouts, tips received drop in FY2019
The CFTC made a handful of big payouts to whistleblowers in fiscal year 2019, but denied awards on 129 applications in the same timeframe.
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Tower Research Capital to pay $67.4M in ‘spoofing’ case
Tower Research Capital will pay a combined $67.4 million to the DOJ and CFTC to resolve criminal charges on unlawful trading in the U.S. commodities market.
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Wells Fargo to pay $14M for violating swap dealer business conduct standards
The U.S. Commodity Futures Trading Commission has issued an order filing and settling charges against Wells Fargo for violating multiple swap dealer business conduct standards.
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Justice Department creates Procurement Collusion Strike Force
The Department of Justice has announced the formation of the new Procurement Collusion Strike Force, which will focus on deterring, detecting, investigating, and prosecuting antitrust crimes.
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Square discontinues adjusted revenue metric following SEC warning
Square is discontinuing the use of adjusted revenue following receipt of a comment letter from the SEC, which has been eyeing reports for use of measures not in compliance with its updated revenue standard.
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IBM, BoA collaborate on financial services-ready public cloud
IBM announced it has designed the world’s first financial services-ready public cloud and is welcoming financial services institutions and their suppliers to join. Bank of America is already on board.
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Under Armour facing SEC, DOJ accountancy probes
Following disclosure of the federal government’s investigation into allegations of sales manipulation dating back to 2017, sports apparel company Under Armour maintains its accounting practices are “appropriate.”
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SEC champions proposals to amend outdated proxy solicitation rules
SEC Chair Jay Clayton and Commissioner Elad Roisman, among others, convened a roundtable to explore proposals to proxy voting rules calling for consistent regulation across the markets and better disclosure of conflicts to clients.