All Compliance Week articles in Web Issue – Page 435
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Blog
Thomson Reuters launches Compliance Management solution
Compliance Management, a new offering by Thomson Reuters, helps risk and compliance professionals demonstrate strong governance and sound internal controls in the face of intense, enterprise-wide regulatory scrutiny.
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Blog
All eyes on the CBS board of directors
The role of the board of directors in a best practices compliance program takes on even more importance when senior management engages in recalcitrant conduct. It remains to be seen if the CBS board will step up in a time of crisis.
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Blog
Risk management 101: getting third-party approval of terms and conditions
While it may seem daunting to convince third parties to agree to the company’s terms and conditions, it’s a key part of compliance and one each party will appreciate in the end.
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Blog
FASB seeks preparer input on segment reporting ideas
To help figure out what to do to improve segment reporting, FASB is looking for public companies to participate in a study.
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Blog
SEC urged to boost crowdfunding cap
Crowdfunding evangelists are asking the SEC to consider raising the investment cap under Regulation Crowdfunding from $1 million to $20 million.
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Article
Public comments on SEC’s ‘best interest’ rule hit a deadline
The general public, ahead of Tuesday’s deadline for public comment, has offered constructive criticism of the SEC’s Regulation Best Interest.
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Blog
SEC plans roundtable on proxy access
The Securities and Exchange Commission will host a roundtable later this year to hear from investors, issuers, and other market participants about whether its proxy rules should be refined.
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Blog
Coinbase names chief compliance officer
Coinbase, a digital currency exchange, has appointed Jeff Horowitz as chief compliance officer.
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Blog
World Bank debars Chinese information-technology company
The World Bank on Aug. 1 announced the 15-month debarment of China-based Jiangsu Zhidehuatong Information Technology in connection with fraudulent practices as part of the Hubei Xiangyang Urban Transport Project in China.
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Blog
24 attorneys general push for shell company transparency
Washington Attorney General Bob Ferguson has led a bipartisan group of 24 attorneys general to urge leadership of the House Financial Services Committee to advance legislation improving transparency of shell corporations by requiring them to disclose who controls and profits from their activities.
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Blog
IRS, Treasury float rules on foreign earnings under tax reform
The IRS and Treasury have issued proposed regulations on how they envision implementing tax reform rules around repatriation of foreign earnings.
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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.