All Compliance Week articles in Web Issue – Page 369
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Blog
AmeriTrust Group names chief risk officer
AmeriTrust Group announced the promotion of Paul Johnson to chief risk officer to oversee the company's enterprise risk management efforts.
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Blog
Will the EU improve its monitoring of money-laundering threats?
EU ambassadors on 19 December 2018 agreed to give the European Banking Authority (EBA) more power over anti-money-laundering supervision for financial institutions, but some doubt the effectiveness of these measures.
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Blog
JPMorgan to pay $135M for improper handling of ADRs
The Securities and Exchange Commission on Wednesday announced JPMorgan Chase Bank will pay more than $135 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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Blog
Plantronics announces closure of Polycom FCPA investigation
U.S. communications equipment company Plantronics announced Wednesday that Polycom entered into a settlement with the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act and will pay $36 million, which will come from an escrow secured by Plantronics as part of its acquisition of Polycom.
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Blog
SEC plans focus on internal controls at year-end
Given big changes companies are undertaking in their accounting processes, staff at the SEC plan to pay special attention to internal controls.
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Blog
SEC disciplines Crowe, two partners over audit failures
The SEC has settled charges against Crowe and two of its partners for “significant audit failures” connected to a payroll services firm that went bankrupt.
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Blog
U.K. government further tightens AML net
A reform package introduced recently by the U.K. government aims to increase transparency and tackle corruption in limited partnerships.
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Blog
Broadridge Financial Solutions, Workiva announce partnership
Fintech company Broadridge Financial Solutions and enterprise management software provider Workiva have announced an alliance to streamline shareholder communications.
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Blog
PCAOB finalizes new standards on estimates, specialists
Auditors have new rules to follow in auditing accounting estimates and in relying on the work of specialists to arrive at audit opinions.
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Blog
ISACA issues COBIT 2019 to help reboot IT governance
ISACA has updated its COBIT framework and issued some accompanying guidance to help companies refresh their information and technology governance.
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Blog
FASB plans January roundtable to address CECL tension
Amid growing tension over a pending new standard on recognizing credit losses, the Financial Accounting Standards Board says it will convene a roundtable in January.
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Blog
SEC expands use of Regulation A exemption
The SEC has enacted new rules that allow Exchange Act reporting companies to use the Regulation A exemption from registration for their securities offerings. Regulation A provides an exemption from registration for offerings of securities up to $50 million in a 12-month period.
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Blog
CFPB’s name game reaches its endgame
In one of her first moves since taking charge of the CFPB, Director Kathy Kraninger has spiked a controversial initiative to rename and rebrand the agency.
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Blog
SEC rule targets hedging of equity compensation
New SEC rules will require companies to file an annual meeting proxy statement that discloses whether employees and directors are allowed to hedge any decrease in the market value of equity securities granted as compensation.
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Article
Bank culture improved since recession, but challenges remain
A new report says despite ongoing efforts to improve conduct and culture deficiencies, the nation’s banks still face serious brand and reputation challenges.
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Article
U.K. Financial Reporting Council receives scathing review
An independent review of U.K. corporate governance regulator and audit watchdog the Financial Reporting Council calls the agency a “hangover from a bygone era.”
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Blog
Banking regulators approve CECL relief measure
Banking regulators issued some relief for banks worried about the effects of adopting CECL, but bankers are still concerned it won’t go far enough.
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Blog
How Hain Celestial improved its revenue recognition practices
The Hain Celestial Group recently settled charges with the Securities and Exchange Commission resulting from weaknesses in its internal controls. Why the food company was not assessed a monetary penalty is where the compliance lessons lie.
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Blog
BNY Mellon to pay $54M for improper handling of ADRs
The Securities and Exchange Commission on Dec. 17 announced that Bank of New York Mellon will pay more than $54 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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Blog
UBS Financial Services to pay $14.5M for anti-money laundering failures
UBS Financial Services has been ordered to pay a $14.5 million civil penalty for willful violations of the Bank Secrecy Act, the Financial Crimes Enforcement Network announced on Dec. 17.