All Compliance Week articles in Web Issue – Page 1184
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ArticleTwo Wells Fargo board members resign ahead of congressional hearing
Two Wells Fargo board members who were scheduled to testify at a congressional hearing this week in the aftermath of the financial institution’s fake account scandal have resigned.
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ArticleEx-Alstom exec gets 15 months in prison on money-laundering charges
Lawrence Hoskins, a former executive of French power and transportation company Alstom, was sentenced to one year and three months in prison for his role in a money-laundering scheme that prosecutors say was designed to promote violations of the FCPA.
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Article
Wells Fargo chief accounting officer to retire
Wells Fargo announced Richard Levy, executive vice president and chief accounting officer, has decided to retire after 18 years with the company. Muneera Carr will assume his position after March 31.
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Article
Tricida adds chief compliance officer
Pharmaceutical firm Tricida announced the hiring of Robert McKague as executive vice president, general counsel and chief compliance officer.
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ArticleCoronavirus’ negative effect on global shipping could last weeks, or months
Companies wondering how to handle risks the worldwide coronavirus outbreak will have on global supply chains should look for clues to the Great Recession of 2008-09, the last time so much capacity stood idle.
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Article
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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ArticleAudit client turnover 2019: Deloitte dominates; KPMG, EY, PwC falter
For the fifth consecutive year, Deloitte net positive in new SEC audit engagements while the rest of its Big Four peers saw net decreases in clients, according to the latest annual study from Audit Analytics.
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ArticleCFPB lawsuit against Fifth Third mirrors Wells Fargo allegations
Fifth Third Bank, National Association could potentially be in as much legal and regulatory trouble as Wells Fargo if allegations of unauthorized account opening brought by the CFPB hold true.
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ArticleWells Fargo CEO says bank’s past behavior ‘deeply disturbing,’ vows change
Wells Fargo CEO Charlie Scharf, who has led the scandal-plagued megabank for four months, was upfront about the bank’s failure to stem abuses in its banking, lending, and auto insurance divisions when he testified at a Congressional hearing Tuesday.
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Resourcee-Book: Best practices for identifying and managing coronavirus risks
The alarming worldwide spread of the coronavirus has not only sent financial markets crashing, it’s created a cascade of risks that every compliance practitioner will need to proactively manage.
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ArticleAsk Amii mailbag: Your reputation, employee relations, and more
The latest edition of the Ask Amii mailbag answers queries on how to protect your reputation when your leaders break the rules; Amii also shares her perspective from the trenches on toiling as the ethical employee.
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ArticleFASB issues improvements to financial instruments guidance, including CECL
FASB has issued an accounting standards update amending several financial instruments topics in order to provide more clarity and improve on such standards as current expected credit losses.
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ArticleWells Fargo former board chairs hesitant to accept accountability
Elizabeth Duke and James Quigley remained unwavering about accepting any sort of accountability in their oversight roles as former board members of Wells Fargo at a tense Congressional hearing Wednesday.
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Article10 tips to meet government expectations of remediation programs
A DOJ-appointed independent compliance monitor has some important advice for companies in trouble that may mean not just remediation credit, but more importantly reputation restoration and the avoidance of larger problems down the line.
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Article10 takeaways from ‘Science of Workplace Investigations’
A former U.S. Department of Justice attorney laid bare the tools in his “lie detection” toolbox to help compliance officers manage this responsibility.
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ArticleJohn Wood Group reserves $46M to resolve bribery investigations
John Wood Group said in a regulatory filing it has reserved $46 million in a potential settlement with authorities in the United States, Brazil, and Scotland related to a bribery investigation concerning ties to Monaco-based oil services firm Unaoil.
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ArticleSwedish watchdog fines Google $7.6M for GDPR non-compliance
Google has received its second fine to date for violating Europe’s General Data Protection Regulation; Sweden’s Data Protection Authority fined the internet giant 75 million Swedish Kroner (U.S. $7.6 million).
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ArticleEmployees working from home to avoid coronavirus? Protect your data
With the coronavirus threat having moved on from disrupting your business’s supply chain to threatening your employees’ health at home, now is the time to implement that company-wide remote workplace plan.
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ArticleEthics and compliance lessons from Astros’ cheating scandal
The Astros’ sign-stealing scandal offers important lessons for leaders of all organizations about the risks associated with a win-at-all-costs or short-term outlook.
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ArticleAICPA calls for IRS to provide tax relief during coronavirus pandemic
AICPA seeks extended filing deadlines to reassure clients struggling with uncertainty during coronavirus pandemic.