All Compliance Week articles in Web Issue – Page 440
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Blog
FINRA sanctions Citigroup Global Markets $11.5M for inaccurate research ratings
The Financial Industry Regulatory Authority has fined Citigroup Global Markets $5.5 million and required the firm to pay at least $6 million in compensation to retail customers for displaying inaccurate research ratings for numerous equity securities during a nearly five-year period, and for related supervisory violations.
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Hallmark names general counsel and secretary
Hallmark has appointed Jill Marchant as executive vice president, general counsel and secretary, effective Jan. 16. Marchant replaces Brian Gardner, who is retiring from the company and will depart March 31.
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Kite Realty names new chief accounting officer
Kite Realty Group Trust, a real estate investment trust company, has promoted David Buell to the role of senior vice president, chief accounting officer, effective as of Jan. 1, 2018. He replaces Thomas Olinger, who retired from the company.
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The stunning Petrobras securities lawsuit settlement
In a stunning capitulation, Petrobras settled with U.S. investors for nearly $3bn in a class-action lawsuit as follow-on litigation to the long-standing corruption allegations against the company.
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Ruling against PwC may portend greater auditor scrutiny
A court ruling in a lawsuit brought by the Federal Deposit Insurance Corporation against PwC for its failure to detect a multibillion-dollar fraud may well portend greater skepticism and scrutiny by auditors when looking at FCPA issues.
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XL Group chief enterprise risk officer retires
Insurance and reinsurance company, XL Group, together with its subsidiaries, announced that Group Chief Enterprise Risk Officer Jacob Rosengarten retired, effective Dec. 31, 2017.
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Audit fees creep higher in 2016, study shows
Public company audit fees inched upward again in 2016, based on the latest data available from Audit Analytics.
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The role of global payroll in compliance
When it comes to following the money and staying in accordance with Department of Justice regulations, global payroll is the most well-suited corporate discipline to provide first-level oversight and controls.
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CCO authority and independence
The more the Justice Department talks about CCO independence, coupled with resources being made available and authority concomitant with the CCO position, the more corporations will see it is in their best interest to provide the resources, authority, and gravitas to compliance positions within their organizations.
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Trump Implements Magnitsky Human Rights Accountability Act
The Trump Administration has launched a new sanctions regime targeting human rights abusers and corrupt actors around the world. It builds upon the Global Magnitsky Human Rights Accountability Act passed by Congress last year.
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NIST develops draft update to cyber-security framework
The National Institute of Standards and Technology, commonly known as NIST, has issued a draft to its commonly consulted the “Framework for Improving Critical Infrastructure Cyber-Security."
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Labor Dept. devotes $60M in fight against human trafficking
The Department of Labor is doling out nearly $60 million in grants to promote labor law enforcement and help end exploitative labor practices in 25 of the United State's trade partner countries.
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Congress could impose new rules for proxy advisory firms
The House of Representatives has passed along a bill to the Senate that, if passed, could be a sea change for proxy advisory firms, notably industry leaders like ISS and Glass Lewis.
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ESMA statement supports smooth implementation of LEI under MiFID II
The European Securities and Markets Authority issued a statement to support the smooth implementation of Legal Entity Identifiers requirements under the Markets in Financial Instruments Regulation.
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ArticleYear in review: 2017
Compliance Week looks back at the last 12 months and offers a glimpse at some of the biggest news stories in compliance, governance, risk, and ethics.
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Bank of England: New approach to supervising global banks
The Bank of England announced that it is consulting on an updated approach to authorising and supervising branches of global banks and insurers, prompting responses from HM Treasury and the U.K. Financial Conduct Authority.
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PCAOB delivers improved report card on Grant Thornton
Grant Thornton's latest PCAOB inspection report, dating to 2016, shows improvement over prior year results.
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Activist investor Nelson Peltz to join P&G board
Procter & Gamble Company said that it has appointed activist investor Nelson Peltz to its board of directors, despite Peltz narrowly losing his seat in the biggest corporate proxy battle ever involving a U.S. company. His appointment is effective March 1, 2018.
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How Hong Kong is combating corruption: A year-end review
Speaking at a press conference this month, Hong Kong’s Independent Commission Against Corruption discussed its continued efforts in combating corruption and enhancing ethical management and staff integrity within companies.
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Blog
Federal Home Loan Bank of New York elects vice chairman
The board of directors of the Federal Home Loan Bank of New York has elected Larry Thompson to serve as the board’s vice chairman for 2018. Thompson, who is the vice chairman of The Depository Trust & Clearing Corporation, has served on the Bank’s board as an independent director since ...