All Compliance Week articles in Web Issue – Page 393
-
Blog
SEC charges Fyre Festival founder with investor fraud
The Securities and Exchange Commission announced on Tuesday that New York entrepreneur William McFarland, creator of 2017's disastrous Fyre Festival, has agreed to settle charges arising out of a multi-year offering fraud that raised at least $27.4 million from more than 100 investors.
-
Article
CFPB nominee stonewalls way through Senate hearing
Kathy Kraninger is likely to prevail as President Trump’s nominee to head the CFPB, despite her evasive performance during a hearing before the Senate Banking Committee.
-
Blog
Assurant appoints chief compliance officer
Assurant, a global provider of risk management solutions, has appointed John Pawloski as chief compliance officer. He succeeds Doris Vigo, who will remain with Assurant until her retirement at the end of 201
-
Blog
SEC data analysis tool uncovers insider trading by executive
A senior executive at Alliance Fiber Optic Products agreed to settle charges that he made nearly $200,000 in illicit profits by trading on inside information in advance of three disappointing earnings announcements by the company, the Securities and Exchange Commission announced on July 24.
-
Blog
CFTC proposes rule update for U.S. markets in security futures products
The Commodity Futures Trading Commission unanimously approved a proposal to update a rule impacting exchanges that list security futures products. The proposal has the potential to provide greater liquidity in SFP trading, which would facilitate risk management for companies using SFPs, and is the first update to the CFTC SFP ...
-
Blog
European Commission fines four consumer electronics makers for fixing online resale prices
The European Commission on July 24 fined four consumer electronics makers for imposing fixed or minimum resale prices on their online retailers in breach of EU competition rules. The more than €111 million in fines were in all four cases significantly reduced due to the companies' cooperation with the Commission.
-
Blog
Julie Lutz to leave SEC
The Securities and Exchange Commission on July 23 announced that Julie Lutz, the Regional Director of the SEC’s Denver Regional Office, will leave the agency at the end of this month after more than 40 years of service.
-
Blog
SEC: Deutsche Bank to pay $75M for improper handling of ADRs
The Securities and Exchange Commission on July 20 announced that two U.S.-based subsidiaries of Deutsche Bank AG will pay nearly $75 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
-
Blog
Danske Bank appoints chief compliance officer
Danske Bank announced the appointment of Philippe Vollot as chief compliance officer and as a new member of the executive board. Vollot takes up his position no later than Dec. 1, 2018.
-
Blog
CECL readiness spans the full spectrum, new poll shows
Banks appear all over the spectrum in terms of their readiness for CECL, with equal numbers implementing the new model or still in the early stages, a new poll says.
-
Article
Revenue 2.0: Work continues to adapt to new rules
Even after calendar-yer companies have filed their first-quarter reports reflecting a new way to recognize revenue, work continues to adapt to the new rules.
-
Article
SEC modernizes rules on employee stock compensation
The SEC on Wednesday issued final rules that would raise the threshold for the enhanced disclosure requirement under Securities Act Rule 701, which allows companies to more easily pay their employees in stock.
-
Blog
MiMedx makes leadership changes amid accounting probe
MiMedx Group, a developer and marketer of regenerative and therapeutic biologics, has appointed Mark Graves as chief compliance officer. The company also is conducting a formal search to fill the newly established positions of chief accounting officer and internal auditor, amid an ongoing investigation into accounting violations.
-
Blog
SEC adopts rules to enhance oversight of Alternative Trading Systems
With the intent of significantly enhancing operational transparency and regulatory oversight, the Securities and Exchange Commission on July 18 voted to adopt amendments to the regulatory requirements governing alternative trading systems, commonly known as “dark pools.”
-
Blog
Evaluation of third parties
Compliance practitioners at GE Oil & Gas discuss the process by which GE reviews the risks around each of its third parties.
-
Blog
The ‘how’ question in due diligence
A clear lesson to be learned from the Theranos scandal is when conducting merger due diligence, make sure to determine how a new partner conducts itself and its business.
-
Blog
FASB approves tweaks to lease accounting standard
The Financial Accounting Standards Board has finalized a number of improvements to its new guidance on lease accounting, which public companies are working to adopt in 2019.
-
Blog
Tether appoints chief compliance officer
Tether Limited, a provider of tokenized traditional government-backed currencies, has appointed Leonardo Real, former AML Quality Control Manager at the Bank of Montreal, as chief compliance officer.
-
Article
New U.K. rules broaden accountability of senior managers
Britain’s financial services industry is bracing for new rules that will significantly broaden the scope of senior executives who will be personally held to account to U.K. regulators for failures that occur under their watch.
-
Blog
Google fined $5 billion for breaching EU antitrust rules
The European Commission has fined Google €4.34 billion (U.S. $5.05 billion) for breaching EU antitrust rules.