All United States articles – Page 202
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More cheating charges at KPMG: SEC fines firm $50M
The SEC has fined KPMG for not only allegations of cheating on regulatory inspections, but also new charges of numerous auditors cheating on training exams.
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ICBC to pay more than $42M for improper handling of ADRs
Industrial and Commercial Bank of China Financial Services will pay more than $42 million to settle charges with both the Securities and Exchange Commission and the Department of Justice for the improper handling of “pre-released” American Depositary Receipts.
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Breaking up is dumb to do
Is splitting up big tech companies a cure for their outsized influence? Probably not.
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States continue to fill federal data privacy void
While Congress largely remains mired in hearings and pre-election posturing, states are increasingly putting their own scrutiny on large tech companies and their data collection policies.
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Software problems exacerbate lease compliance
Nearing the end of their second quarter observing new lease accounting rules, many public company accounting departments are still cursing their software.
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Canon, Toshiba to pay $5M for antitrust law violations
Canon and Toshiba will pay $2.5 million each to settle federal charges regarding violations of the Hart-Scott-Rodino Act during an acquisition deal in 2016.
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Bill demands ownership reveals for shell companies
The newly proposed ILLICIT CASH Act would, for the first time, require shell companies to disclose their true owners to the U.S. Department of Treasury.
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Kraft Heinz cuts net income, continues with SEC probe
In a recently filed restatement, Kraft Heinz reduced its reported net income by $150 million going back to 2015 to correct employee misconduct in accounting.
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Insys files for bankruptcy after $225M settlement
Opioid maker Insys Therapeutics has filed for bankruptcy after agreeing to a $225 million global resolution to settle investigations concerning deceptive marketing and distribution of the drug Subsys.
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Grant Thornton changes leaders, ending CEO term early
Offering no specific reason for his early departure, Grant Thornton says Mike McGuire is stepping aside as CEO.
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Reps continue push for big bank diversity data
Members of the House Financial Services Committee have sent letters to 37 bank holding companies requesting their diversity and inclusion data.
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Regulators globally still call for better audits
While encouraged by the trend in audit inspection results, global audit regulators report they are still seeing levels of audit deficiency that command continued focus on improvement.
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OSI Systems: FCPA probes have been closed
DOJ and SEC investigations into market security company OSI Systems have officially been terminated. No further information was provided.
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World Bank debars China Railway Construction, two subsidiaries
The World Bank announced the nine-month debarment of China Railway Construction Corp. and two of its subsidiaries concerning misconduct under a highway project in Georgia.
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Top Mind of Tomorrow: ‘Hope to pay it forward’
Top Mind of Tomorrow Hannah Levine relays her experience at the recent CW annual conference.
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New bill seeks to end regulatory stalemate with China
Bipartisan legislation proposes to increase oversight on China-based companies listed on U.S. exchanges and delist those that fail to comply in three years.
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PCAOB disciplines former Big Four auditors
The PCAOB has disciplined two former Big Four auditors—one over an audit of internal control and the other over inspection issues.
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SEC finally prevails with investment advice ‘best interest’ rule
The Securities and Exchange Commission has adopted rulemaking intended to enhance the quality and transparency of investor relationships with investment advisers and broker-dealers.
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SEC takes questions on knock-on effects of new lease rules
SEC staff members met with the Center for Audit Quality’s SEC Regulations Committee to acknowledge concerns and answer questions associated with new lease accounting rules.
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Policy change previewed by DOJ a tip of the cap to compliance
A change to the DOJ’s leniency program could be good news for companies that can demonstrate an effective compliance program.