All Compliance Week articles in Web Issue – Page 299
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Reinvigorated British PM Johnson pushes for January Brexit
U.K. Prime Minister Boris Johnson gained a majority in Parliament on Thursday, meaning there could finally be an end in sight for Brexit.
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Wells Fargo’s new TPRM head looked to Theranos for lessons
At CW’s Third-Party Risk Management and Oversight Summit, the head of Wells Fargo’s global TPRM group took a few pages out of biotech startup Theranos’ book to shed light on what not to do when building a risk culture.
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Resource
e-Book: Thwarting risk in your company's Supply Chain
This e-Book explores the need for effective risk management in the company supply chain.
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Life after LIBOR: Shell throws weight behind SOFR
Royal Dutch Shell has announced the signing of one of the world’s first credit facilities linked to the new Secured Overnight Financing Rate.
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International banking regulator: Big Tech ‘may pose risks to financial stability’
Big technology firms like Amazon, Facebook, Twitter, and Google are a potential risk if they get more heavily involved in providing financial services, says the Financial Stability Board.
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WADA mess: Sports regulator’s light touch sends bad compliance message
One of sports’ key enforcement agencies handed out a penalty this week that sent a message no regulator wants to send: Punitive action may only come after the guilty party has already reaped the rewards.
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Resource
White paper: 6 Ways to Improve Audit Readiness
Even for the best-prepared accounting teams, the annual audit can be a time of immense anxiety and sometimes frustration. Between client and audit team miscommunication, haphazard PBC lists, fluctuating trial balances, and the simple fact that the in-house accounting team has already moved on to a new fiscal year, it’s ...
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Article
Former FCPA chief’s 7 steps to third-party compliance
Speaking at CW’s Third-Party Risk Management and Oversight Summit, former FCPA Unit chief Kara Brockmeyer called attention to recent enforcement actions against Walmart and Ericsson as a way to highlight seven steps to third-party compliance.
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SEC’s Clayton: Talk of whistleblower cap ‘misguided’
Amid controversy surrounding proposed changes to the SEC’s whistleblower program, Chairman Jay Clayton continues to stress any adjustments won’t include a cap on awards.
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PCAOB CAMs report: Goodwill, revenue recognition lead way
Goodwill and other intangible assets and revenue recognition are among the most frequently communicated critical audit matters, according to the Public Company Accounting Oversight Board’s first report on the new disclosure.
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Article
Liabilities and equity, LIBOR among priorities for FASB’s Golden
In a speech Tuesday, FASB Chairman Russell Golden laid out the accounting areas he hopes to finalize changes to before his term ends June 30, 2020.
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Article
Morgan Stanley fined $22.2M for manipulating bond prices
France’s financial market regulator has fined Morgan Stanley €20 million (U.S. $22.2 million) for manipulating the price of French and Belgian government bonds in June 2015.
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1 & 1 Telecom fined $10.6M for GDPR violations; company fights back
A German federal privacy watchdog has fined 1 & 1 Telecom €9.55 million (U.S. $10.6 million) for violations of the EU’s General Data Protection Regulation, but the company says it won’t accept the penalty.
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GoDaddy announces new accounting chief
Web hosting company GoDaddy disclosed to the SEC the appointment of Nick Daddario to serve as chief accounting officer and principal accounting officer.
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HSBC names chief risk officer amid leadership changes
HSBC Holdings, the parent company of HSBC Bank, announced the appointment of a new chief risk officer amid several executive changes.
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Article
Score Media appoints CCO, general counsel
Score Media and Gaming, the company behind theScore sports app, announced the appointment of Josh Sidsworth as general counsel and chief compliance officer.
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Article
Public Trust tabs new chief risk officer
New Zealand-based trustee services provider Public Trust announced the appointment of David Callanan to the newly created role of chief legal and risk officer.
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Article
Treasury sanctions 18 individuals connected to human rights abuse
The Office of Foreign Assets Control has added 18 individuals across six geographies to its Specially Designated Nationals list for their roles in serious human rights abuse. Six entities have also been added to the list.
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Article
Swedbank announces governance overhaul, launches culture probe
Swedbank CEO Jens Henriksson announced the financial institution is making some major organizational changes “to create simpler and clearer decision-making structures to facilitate the realization of the bank’s strategy.”
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Resource
White paper: File Sharing for Financial Services and Banking Industry
In this age of unprecedented growth in unstructured data, emerging global privacy regulations, and increased threat of cyberattacks, a heightened focus on data security is no longer optional.