All Compliance Week articles in Web Issue – Page 391
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Blog
Wells Fargo hit with $2B penalty for misrepresenting quality of loans used in RMBS
The Department of Justice on Aug. 1 announced that Wells Fargo and several of its affiliates will pay a $2.09 billion civil penalty based on the bank’s alleged origination and sale of residential mortgage loans that it knew contained misstated income information and did not meet the quality that Wells ...
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Article
Implementing the FRC’s ‘Guidance on the Strategic Report’
The Financial Reporting Council has published revised guidance addressing strategic reports, aiming to help organizations make such reports more informative and relevant to stakeholders.
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Article
FCA’s limited powers give Royal Bank of Scotland a pass
The Royal Bank of Scotland has escaped penalties for its alleged abuse of small businesses, due to the Financial Conduct Authority’s admitted lack of sway.
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Blog
Angst over lease accounting grows, new polls say
A pair of new poll results suggest anxiety is growing at public companies that have five months remaining until new lease accounting rules take effect.
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Blog
Justice Department signs addendum to NPA with Bank Lombard Odier
The Department of Justice has signed an addendum to a non-prosecution agreement with Bank Lombard Odier of Zurich Switzerland. The original NPA was signed on Dec. 31, 2015.
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Article
Government clears way for FinTech firms to compete with banks
In separate developments announced July 31, the U.S. Department of Treasury and the Office of the Comptroller of the Currency paved the way for FinTech firms and other non-banks to more easily compete with traditional banks. Once again, opponents are threatening legal action.
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Resource
Regulatory Mapping Is Integral to Compliance Functions
New rules and regulations for conducting business are constantly being developed—sometimes daily, it seems—both domestically and globally. Organizations must keep up by implementing a robust regulatory mapping system to ward off fines and penalties and, at the same time, maintain brand equity.
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Blog
FASB approves huge simplification to lease rules
FASB has finalized an enormous simplification of the pending new lease accounting standard, permitting companies to forego historic presentations.
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Article
Non-GAAP reporting smooths currency-driven volatility
As trade and tariff wars wage on, companies use non-GAAP accounting to try to explain the resulting currency volatility in reported financial results.
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Blog
SBM Offshore signs leniency agreement with Brazilian authorities, Petrobras
Dutch oil and gas services company SBM Offshore said it has reached a leniency agreement with Brazilian authorities to resolve allegations relating to the Petrobras bribery scandal.
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Article
MPs slam U.K. attitude to workplace sexual harassment
Employers, regulators, and the U.K. government are not doing enough to tackle “widespread” instances of sexual harassment in the workplace, according to Members of Parliament committee.
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Blog
What are your compliance resources?
Evolved Justice Department policies encourage corporations to see it is directly in their best interest to provide the resources, authority, and gravitas to the compliance position within their organizations.
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Blog
If geopolitical risks change, scrub your operations
The recent political upheavals in South Africa and Malaysia should serve as a reminder for companies to review their operations in politically evolving countries in which they might have conducted government business.
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Blog
Compliance lessons from the best team in baseball
Believe it or not, there's a compliance lesson to be learned by the methods of the Houston Astros in their rise from the worst team in baseball to World Series champions.
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Podcast
Podcast: Challenges and technologies for mortgage lenders
In this edition of the Compliance Week podcast, we chat with Rose Bogan of Digital Risk about the compliance challenges faced by mortgage lenders and how emerging technology may be coming to the rescue.
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Blog
To ‘protect personal data,’ OSHA is killing an Obama reporting rule
To “better protect personally identifiable information or data that could be re-identified with a particular individual” OSHA has announced plans to rescind provisions of the Obama administration’s “Improve Tracking Workplace Injuries and Illnesses” rule.
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Blog
Federal Reserve launches new compliance bulletin
The Federal Reserve Board has launched a new publication intended to provide bankers with high-level summaries of pertinent supervisory issues.
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Blog
Advisory warns companies about sanctions evasion tactics used by North Korea
The U.S. government has issued an advisory highlighting the sanctions evasion tactics used by North Korea that could expose companies—including manufacturers, buyers, and service providers—to compliance risks under U.S. or United Nations sanctions authorities.
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Blog
GM chief accounting officer leaving for GE
Thomas Timko, chief accounting officer at General Motors, will be leaving GM to join General Electric in the same role.
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Resource
Management Reporting: Let’s Stop Reinventing the Wheel
Access to accurate data, and timely commentary and analytics is critical to making sound business decisions. And the pressure to provide that data and analysis to management is only becoming more intense.