All Compliance Week articles in Web Issue – Page 1270
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ArticleEx-Ericsson employee charged with FCPA bribery violations
A former account manager at Swedish telecommunications giant Ericsson faces charges of conspiracy to violate the Foreign Corrupt Practices Act regarding alleged bribes paid to government officials in the Republic of Djibouti.
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Article
FTC tees up withdrawing vertical merger guidelines
The Federal Trade Commission, led by new chair Lina Khan, might withdraw its vertical merger guidelines finalized only last year at an upcoming open commission meeting.
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ArticleDan Berkovitz departure to leave CFTC with 2 commissioners
The Commodity Futures Trading Commission will soon be down to two members with Democratic Commissioner Dan Berkovitz set to depart next month.
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ArticleStudy: How COVID-19 has affected public company financials
Disruptions to normal operations and shifts in work environments as a result of the COVID-19 pandemic caused an increase in late filings and changes to controls, according to new research from Audit Analytics.
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ArticleNewTek fined $189K over Iran sanctions violations
NewTek, a Texas-based company that develops 3D animation hardware and software, has agreed to pay $189,483 to settle OFAC allegations it knowingly violated U.S. sanctions against Iran.
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ArticleOCC fines Wells Fargo $250M for continued risk management failings
Wells Fargo Bank has been ordered to pay $250 million related to deficiencies in its home lending loss mitigation program in addition to violations of a 2018 consent order, the Office of the Comptroller of the Currency announced.
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ArticleESG matters have financial reporting implications now
While the possibility of SEC regulation mandating additional ESG disclosures remains a hot topic, the potential effects of ESG matters on a company’s financial accounting and reporting are not a future consideration.
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Article
ODP Corp. chief accounting officer to depart
ODP Corp., parent company of OfficeMax and other business services providers, announced Senior Vice President and Chief Accounting Officer Richard Haas will leave the company, effective April 1, 2022.
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ArticleBank of America names compliance head amid leadership shakeup
As part of a host of senior management changes, Bank of America has named Amy Littman to be its new head of global compliance and operational risk.
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ArticleNLRB to enhance enforcement of unfair labor practices
National Labor Relations Board General Counsel Jennifer Abruzzo issued a memo signaling the agency will broadly be expanding the remedies it seeks against companies that engage in unfair labor practices.
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ArticleBiden nominates 3 to CFTC, including Rostin Behnam as chair
President Joe Biden announced the nomination of three individuals to serve as commissioners at the Commodity Futures Trading Commission, including the naming of Rostin Behnam as the agency’s full-time chair.
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ArticleOwn your ESG materiality strategy, advises SASB founder
Jean Rogers advised companies not to rely on regulators and organization frameworks over internal expertise when it comes to determining ESG materiality as part of her keynote at CW’s “Everything ESG” virtual event.
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ArticleCAQ report: Climate-related risk considerations in audited financial statements
A recent Center for Audit Quality report aims to provide an understanding of how company management and their auditors apply current U.S. accounting and auditing requirements for financial statements related to climate-related risks.
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ArticleKPMG Australia fined $450K over training test cheating
The Public Company Accounting Oversight Board announced a $450,000 fine against KPMG’s Australian subsidiary to resolve allegations of widespread cheating on personnel training tests at the firm.
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ArticleElizabeth Warren urges Fed break up ‘ungovernable’ Wells Fargo
Sen. Elizabeth Warren has called for federal banking regulators to break up Wells Fargo, saying “every new report of scandal and ongoing noncompliance” proves the bank is “ungovernable.”
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Article
App Annie to pay $10M in landmark SEC action
The Securities and Exchange Commission charged App Annie with securities fraud—the agency’s first enforcement action against an alternative data provider.
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ArticleSEC whistleblower awards surpass $1B with $110M payout
The Securities and Exchange Commission surpassed $1 billion in whistleblower awards with the announcement of a $110 million payout to a whistleblower whose independent analysis led to two successful enforcement actions against a company.
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ArticleThe dos and don’ts of building a DEI program
NABCRMP Founder Jennifer Newton shared how to create a sustainable diversity, equity, and inclusion program that aligns with an organization’s mission during CW’s “Everything ESG” virtual event.
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ArticleGerman AML deficiencies in spotlight ahead of election
A recent raid by German prosecutors of the country’s finance and justice ministries has once again put a spotlight on Germany’s apparent failings in tackling financial crime.
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ArticleFTC withdraws 2020 vertical merger guidelines. Will DOJ follow suit?
The Federal Trade Commission voted to withdraw 2020 guidelines for vertical mergers for including what three Democratic commissioners described as “unsound economic theories that are unsupported by the law or market realities.”