All United States articles – Page 238
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ArticleFresenius Medical Care to pay $231M to resolve FCPA case
German healthcare company Fresenius Medical Care reached a $231 million settlement with U.S. authorities for violations of the Foreign Corrupt Practices Act for participating in various corrupt schemes across multiple countries that went undetected for more than a decade.
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ArticleSEC, U.K. strike post-Brexit cooperation deals
The SEC and the United Kingdom’s Financial Conduct Authority have reaffirmed their commitment to cooperation and information sharing, even after the latter withdraws from the European Union.
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HUD charges Facebook with facilitating housing discrimination
The Department of Housing and Urban Development is charging Facebook with violating the Fair Housing Act by “encouraging, enabling, and causing housing discrimination through the company’s advertising platform.”
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Grant Thornton earns record low deficiency rate
Grant Thornton earned a record low deficiency rate on its newest audit inspection report, the first major firm to deliver a rate in the teens since 2009.
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Embattled Wells Fargo CEO steps down
Wells Fargo announced Thursday that Chief Executive Officer and President Timothy Sloan intends to retire, effective June 30. He will step down as CEO, president, and board member effective immediately.
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ArticleReport: FTC, CFPB have blind spots for credit reporting agencies
A report by the Government Accountability Office finds that the FTC and CFPB have oversight and enforcement shortcomings when it comes to credit reporting agencies.
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A closer look at the revised FCPA Corporate Enforcement Policy
The Department of Justice in recent months has made several notable revisions to its FCPA Corporate Enforcement Policy surrounding M&A, messaging apps, and much more.
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ArticleSEC awards $50M to two whistleblowers
The Securities and Exchange Commission announced awards totaling $50 million to two whistleblowers whose high-quality information assisted the agency in bringing a successful enforcement action.
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U.S. Chamber ponders quarterly reporting, pitches ‘company files’
The U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness has entered the fray over potential reforms to the timing and substance of corporate disclosures. Its pitch: a centralized “company file” to replace the current process for delivering investor information.
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ArticleFASB revises proposed changes to income tax disclosure
FASB has revised its proposed changes on tax disclosures to respond to feedback to an earlier proposal and to reflect changes under tax reform.
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ArticleAvenatti arrest fallout: don’t confuse whistleblowing with extortion
A high-profile arrest of Michael Avenatti for an extortion scheme against Nike raises difficult questions of corporate responsibility regarding whistleblower initiatives.
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Merrill Lynch to pay $8M for improper handling of ADRs
The Securities and Exchange Commission on March 22 announced that Merrill Lynch, Pierce, Fenner & Smith will pay over $8 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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ArticleBanks, central banks warned of crypto-currency risks and pitfalls
Despite failures, plummeting prices, and a plethora of risks, financial institutions and central banks are cautiously looking at ways to use virtual currencies. International regulators are warning them that doing so haphazardly could be disastrous.
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ArticleWhy ‘moral leadership’ matters, and how to demonstrate it
Most employees believe moral leadership leads to better business results, but few believe senior leaders consistently demonstrate those qualities. That’s according to the findings of a new report, “The State of Moral Leadership in Business 2019,” conducted by ethics and compliance advisory firm LRN.
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PodcastKim Yapchai on engaging compliance training
Kim Yapchai, chief ethics and compliance officer at Tenneco, explains to columnist Tom Fox her approach of using interactive games in compliance training.
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ArticleCFPB resurrects consumer advisory boards
CFPB Director Kathleen Kraninger has reinstated the agency’s consumer advisory boards. It is currently accepting applications for members to serve on those boards, which were disbanded last year by her predecessor.
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ArticleSEC considers reporting changes for BDCs, closed-end funds
The SEC is pitching rule amendments to improve access to capital and investor communications by business development companies that typically invest in small and developing companies and registered closed-end funds.
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SEC adopts amendments, MD&A changes to simplify disclosures
The SEC has adopted amendments to Regulation S-K disclosure requirements and MD&A filings that are intended to improve the readability of company disclosures and to discourage repetition and immaterial information.
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FTC clarifies expectations for post-settlement compliance reports
The Federal Trade Commission, increasingly faced with incomplete information and blown deadlines, is laying down the law when it comes to post-settlement compliance reports.
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ArticleRegulators’ top risk cop assailed by reform-bent critics
The Financial Stability Oversight Council was created to expose and mitigate systemic risks to the U.S. financial system. Its critics are winning the long-simmering battle to redefine its efforts.