All Compliance Week articles in Web Issue – Page 519
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Blog
Grapevine: Who’s coming and going in compliance
US Foods Holding has named a new general counsel and chief compliance officer, effective Feb. 1; Nationstar Mortgage Holdings has a new chief risk officer; and Infosys Limited will say goodbye to yet another chief compliance officer. Check out the CW Grapevine for the latest personnel moves.
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Morgan Stanley to pay $13M for overbilling clients
The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney has agreed to pay a $13 million penalty to settle charges that it overbilled investment advisory clients due to coding and other billing system errors. The firm also violated the custody rule pertaining to annual surprise examinations. ...
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BasisCode Compliance forms compliance advisory council
BasisCode Compliance, a provider of regulatory compliance software solutions, has formed an advisory council of leading compliance consulting firms to provide industry input in the continuing development of its compliance software platform.
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US Foods names chief compliance officer
US Foods Holding has named Kristin Coleman as executive vice president, general counsel, and chief compliance officer, effective Feb. 1.
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Zimmer Biomet to pay $30M to resolve FCPA violations
Medical-device maker Zimmer Biomet Holdings has agreed to pay more than $30 million to resolve parallel SEC and Department of Justice investigations into the company’s repeat violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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On the death of the ‘rogue engineer’
For The Man from FCPA Tom Fox, the most interesting thing about the Volkswagen indictments were not that ‘rogue engineers’ were charged but that executives who participated in the cover-up were indicted.
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Flap over non-GAAP gets standard setters' attention
The disturbing rise of non-GAAP reporting in 2016 has prompted standard setters to take a closer look at whether changes to current rules are in order. Tammy Whitehouse explores.
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SEC details 2017 examination priorities
The SEC has announced its Office of Compliance Inspections and Examinations’ priorities for the new year. Added areas of focus, writes Joe Mont, include electronic investment advice, money market funds, and the financial exploitation of senior investors.
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Nationstar Mortgage appoints new chief risk officer
Nationstar Mortgage Holdings has appointed Mihir Patel as the company’s new chief risk officer.
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Volkswagen to pay $4.3B in emissions-cheating scandal
Volkswagen will plead guilty and pay a total of $4.3 billion in criminal and civil penalties resulting from the company’s long-running emissions-cheating scandal. In addition, six Volkswagen employees are indicted in connection with the conspiracy. Jaclyn Jaeger reports.
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IMF’s Christine Lagarde convicted of financial negligence
French court says Lagarde was “negligent” for failing to appeal arbitration award to former Mitterrand-era minister, writes Neil Hodge.
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Banks and bankers on front line of AML fight
The first foreigner, Jens Sturzenegger, a former branch manager at Falcon Private Bank in Singapore, was recently convicted in the 1MDB scandal. Tom Fox reports.
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Article
Technical side of revenue recognition still vexes companies
The more complex the transaction, the more difficult it gets to apply new revenue recognition rules. Eventually, something’s got to give, writes Tammy Whitehouse.
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ArticleAnti-corruption compliance lessons from Teva’s FCPA case
Teva Pharmaceuticals conducted bribery on a massive, international scale and became a case study for FCPA watchers everywhere. Jaclyn Jaeger reports.
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FASB finalizes tweaks on business definition
FASB has finalized new guidance to make it more clear when a particular transaction constitutes the purchase or sale of a business or just a collection of assets. Tammy Whitehouse has more.
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REIT industry shows lackluster board diversity
Compared to the S&P 500 or the FTSE 100, the REIT industry has a long way to go when it comes to promoting board diversity, writes Paul Hodgson.
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Article
A post-election perspective on financial regulatory compliance
The Trump administration might not follow the Republican playbook when it comes to scaling back enforcement across the board, writes Todd Cipperman.
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Article
Global business in Trump’s protectionist era
Trump’s election, Brexit, and failed trade agreements herald a new era of protectionism, but only strong regulations can deal with data protection and tax evasion, writes Nick Henderson.
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Article
What corporate meltdowns teach us about ERM
Joe Mont talks to Steven Minsky, CEO of LogicManager, about how disruptive technology demands that businesses practice better governance and enterprise risk management.
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What to expect from Trump’s SEC nomination
President-elect Donald Trump’s pitch to head the SEC is Jay Clayton, a partner with Sullivan & Cromwell. Joe Mont fields reactions and looks for clues on how he might lead the agency.