All United States articles – Page 238
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SEC awards whistleblower $1.8M for 'extensive' assistance
The SEC awarded more than $1.8 million to a whistleblower whose information and assistance were “critically important” to the success of an enforcement action involving misconduct committed overseas.
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ArticleGE whistleblower report shines light on insurance liability
Recent whistleblower allegations against GE have put a spotlight on mounting liabilities that will hit corporate balance sheets when insurance accounting rules shift.
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ArticleSEC issues 9 compliance & disclosure interpretations for Inline XBRL
The SEC’s Division of Corporation Finance this month published nine new Compliance and Disclosure Interpretations relating to Inline XBRL rules, particularly concerning common questions around the exhibit index and cover page tagging.
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Commissioners Jackson and Lee: A critical look at Regulation S-K
SEC Commissioners Robert Jackson and Allison Herren Lee have expressed concerns about the move toward principles-based requirements with Regulation S-K and advocated for more requirements to disclose climate risk.
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ArticleNew SEC guidance addresses proxy voting process
New SEC releases address the applicability of proxy rules to proxy voting advice and provide guidance to investment advisers in fulfilling their proxy voting responsibilities, particularly when they retain the services of a proxy advisory firm.
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ArticleKPMG CEO elects not to seek second term
Lynne Doughtie, chairman and CEO of KPMG, has decided she will not seek re-election when her term expires next summer.
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ArticleNew Volcker rule eases restrictions on proprietary trading
The latest amendments to the Volcker rule, a regulation aimed at curbing banks from engaging in proprietary trading, seek to eliminate unnecessary complexity without thwarting the rule’s main objective.
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SEC settles with RSM over audit independence issues
The SEC has settled charges with RSM related to numerous auditor independence violations, spanning more than 100 audit reports across 15 clients.
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ArticleRevenue recognition drove 2018 restatements, new report says
Revenue recognition drove more restatements in 2018 than in prior years and caused more restatements than any other area of accounting, a new study finds.
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ArticlePCAOB issues new guidance on auditing estimates
The PCAOB has issued new guidance to auditors about how to comply with new rules on auditing estimates, supervising specialists, and relying on their work.
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ArticleDeutsche Bank to pay $16M in FCPA case over hiring practices
Deutsche Bank has become the latest financial institution to pay a penalty for violations of the Foreign Corrupt Practices Act over questionable hiring practices, showcasing a litany of compliance failures.
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ArticleFASB plans delay for new insurance standard
FASB is proposing another accounting delay, this time for a standard that will change the way companies recognize long-term insurance obligations.
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ArticleIs whistleblowing working? New claims raise questions
Sweeping, open allegations of fraud against major public companies raise fresh questions about the effectiveness of regulatory whistleblower programs.
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American Airlines to pay $22.1M over falsified mail delivery allegations
American Airlines has agreed to pay $22.1 million to resolve allegations of violations of the False Claims Act regarding the reporting of international delivery times.
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ArticleTherapeuticsMD to pay $200K for Reg FD violations
Pharmaceutical company TherapeuticsMD agreed to pay a $200,000 penalty to resolve charges brought by the SEC for Reg FD violations. The case imparts some compliance lessons.
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Article
DOJ closes FCPA probe into Misonix
The DOJ has now closed its investigation into medical device company Misonix—about a month after the SEC closed its probe—without bringing enforcement actions. The FCPA investigation still resulted in some extensive anti-corruption compliance reforms.
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ArticleSealed Air dumps EY & hires PwC, as SEC investigates
Under investigation over how it appointed EY, Sealed Air cut ties with its auditor and appointed PwC after clearing independence concerns.
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Article
Cantor Fitzgerald, BMO Capital to pay $4.5M for mishandling ADRs
Brokers Cantor Fitzgerald and BMO Capital Markets will combine to pay more than $4.5 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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Avianca discloses internal FCPA investigation
Avianca Holdings disclosed in a securities filing that it is investigating possible violations of the U.S. Foreign Corrupt Practices Act concerning free and discounted airline tickets and upgrades given to government officials in certain countries.
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GE rails against new whistleblower allegations of fraud
GE picks apart new whistleblower allegations of $38 billion accounting fraud. “Market manipulation—pure and simple,” says Chairman and CEO Larry Culp.