All Compliance Week articles in Web Issue – Page 427
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Article
Big money fines emphasize focus on AML compliance
Speculation that anti-money laundering fines might shrink in the current political climate were proven very wrong in recent days.
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Article
Cyber-security attestations now required for leadership at NY’s financial firms
Tough new cyber-security regulations, crafted in New York, require board members and senior officials to not just talk the talk.
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Blog
Mercury Systems names chief accounting officer
Mercury Systems, a commercial provider of secure sensor and safety-critical processing subsystems, has named Michelle McCarthy as vice president, chief accounting officer and controller.
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Article
New rules accelerate recognition of unredeemed gift cards
Gift card issuers have a new post-holiday-season hangover issue to address this year as they adapt to new accounting rules on how to recognize gift card revenue.
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Blog
FASB queues up technical questions on hedging standard
After approving a new standard for how to account for hedges in financial statements, now FASB is hearing requests for clarifications and technical corrections.
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Blog
Department of Justice creates Cybersecurity Task Force
A new Cyber-Digital Task Force will assess how the Department of Justice is combatting the global cyber-threat and how federal law enforcement can more effectively accomplish its mission in this evolving area.
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Blog
Former PdVSA officials face corruption-based civil lawsuit
A look at the first civil action filed in Houston for the massive PdVSA bribery and corruption that engulfed the company and those who tried to do business with it over the past few years.
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Blog
Dems want to end to federally-funded, private debt collection agencies
A team of Senate Democrats have filed legislation that would repeal authority from the Internal Revenue Service to contract with private collection agencies to collect unpaid taxes.
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Blog
CFTC and UK’s FCA agree to collaborate on FinTech innovations
The U.S. Commodity Futures Trading Commission and the UK’s Financial Conduct Authority (FCA) have agreed to collaborate on international FinTech efforts.
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Article
SFO charges Barclays a second time over fraudulent $3B Qatar loan
Barclays will face charges of unlawful financial assistance in relation to an illegal transaction during the height of the financial crisis to keep the bank from failing.
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Blog
Albemarle names new chief compliance officer
Albemarle Corporation, a specialty chemical company, has appointed Andrew McBride as chief compliance officer.
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Blog
Social media companies lag on compliance with EU consumer rules
Social media companies—Facebook, Twitter, and Google+—need to do more to respond to requests made last March by the European Commission and member states' consumer authorities to comply with EU consumer protection rules.
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Blog
FCA seeks input on using technology to achieve smarter regulatory reporting
The U.K. Financial Conduct Authority is seeking comment on how technology can make it easier for firms to meet their regulatory reporting requirements and improve the quality of the information they provide.
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Blog
Swiss regulator publishes ICO guidelines
The Swiss Financial Market Supervisory Authority, FINMA, has published guidelines setting out how it intends to apply financial market legislation in handling enquiries from initial coin offering organisers. The guidelines also define the information FINMA requires to deal with such enquiries and the principles upon which it will base its ...
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Blog
U.K. and U.S. to collaborate on FinTech initiatives
The U.K. Financial Conduct Authority and the U.S. Commodity Futures Trading Commission have signed a first-of-its-kind arrangement with one another to collaborate and support innovative firms through each other’s FinTech initiatives.
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Blog
Could Tesco have avoided its £4 billion (U.S.$5.6B) unequal pay case
Law firm Leigh Day is taking legal action against Tesco in “what is potentially the largest ever equal pay challenge in U.K. history,” according to the firm.
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Blog
Is IFRS 9 shaking up U.S. activity to adopt CECL?
Accounting activity at publicly held financial institutions apparently is picking up to prepare for new requirements for the recognition of loan losses.
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Blog
Facilitation payments under the FCPA
In addition to its restrictions, a key to FCPA compliance is accurately recording facilitation payments going forward. As with all things FCPA-related, the “document, document, document” mantra holds.
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Blog
Extortion policies under the FCPA
An extortion payment, while not a violation of the FCPA, should have its own set of policies and procedures that employees adhere to per the chief compliance officer.
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Blog
Charitable entities and compliance
The stories of Plan International USA and of Oxfam make clear the need for robust compliance programs in a non-profit charity.