All Compliance Week articles in Web Issue – Page 572
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Blog
Key theme from Compliance Week 2016
The continued evolution of the Chief Compliance Offiicer and compliance function was a key theme from Compliance Week 2016.
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BlogCW2016: SEC and DoJ speak on personal liability
Enforcement heads from the SEC and Department of Justice kicked off Compliance Week 2016 in Washington D.C. this week, speaking candidly about compliance program effectiveness, personal liability, and much more. Jaclyn Jaeger reports.
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Blog
PwC proposes SOC 2+ to dig into third-party risk
PwC has developed a framework to add to the assurance provided by an SOC 2 report (an AICPA report focused on controls around security, processing integrity, and privacy). PwC calls it an “SOC 2+” approach, building on the SOC 2 reporting principles by allowing a more independent, standardized assessment. Tammy ...
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Blog
SEC awards two more whistleblowers
The SEC is awarding more than $450,000 to two individuals for a tip that led the agency to open a corporate accounting investigation and for their assistance once the investigation was underway. The whistleblower award is the third announced by the SEC in the past week, says CW’s Jaclyn Jaeger, ...
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Blog
FINRA fines compliance officer for AML compliance failures
The Financial Industry Regulatory Authority has fined Raymond James & Associates and Raymond James Financial Services a total of $17 million for widespread failures related to the firms’ anti-money laundering programs. RJA’s former AML compliance officer was also fined and suspended for three months.
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Article
FASB looks to cut out that ‘second step’ of goodwill accounting
A proposed rule might remove the costly, complex, and time-consuming calculations of a company’s fair value that are required when its fair market value drops below its carrying value. In other words, goodwill accounting is about to get a little goodwill of its own. Tammy Whitehouse reports.
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Blog
FCA advises on new EU Market Abuse Regulation
The Financial Conduct Authority has published changes to its handbook, “Disclosure Guidance and Transparency Rules,” to help U.K.-listed companies comply with new EU Market Abuse Regulation (MAR) from 3 July this year. The handbook and MAR cover a very wide range of “market abuse” issues, such as insider dealing, improper ...
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Blog
Seven myths of boards of directors—part II
Last month, Rick Steinberg looked at myths around corporate governance, including accusations levied by some institutional investors and others. Here he looks at more such myths, with analysis and insight into which claims are on point—and which are not—along with how some accusers appear to be seeking to serve their ...
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Blog
Compliance metrics and dashboards: building your case
Jose Tabuena explores how companies and, specifically, chief compliance officers can demonstrate the effectiveness of their compliance programs and be seen as creditworthy in the eyes of the U.S. Sentencing Guidelines.
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ArticleCompanies now have federal remedy to protect trade secrets
Passage this month of the Defend Trade Secrets Act creates for the first time a federal civil cause of action for misappropriation of trade secrets, giving U.S. companies a wide range of remedies—but its new whistleblower protections also call for new reporting obligations. Jaclyn Jaeger explores.
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Article
Australia bolsters antitrust enforcement
Australian regulators are aggressively enforcing that nation’s competition laws, demonstrated by a wave of significant enforcement actions reached in just the last couple of months. Multinationals with operations in Australia should heed the warning. Jaclyn Jaeger has more.
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Article
Former FTC Commissioner Brill on data security, privacy protections
Joe Mont speaks to Julie Brill, who for the past six years was among the FTC’s most influential commissioners and an important voice on internet privacy and data security issues. In April, she left public service to join the law firm Hogan Lovells as a partner and co-director of its ...
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Blog
CCO independence as key indicia of best practices compliance program
At the annual Compliance Week conference, U.S. Justice Department and Securities and Exchange Commission representatives spoke about what constitutes an effective compliance program under the Foreign Corrupt Practices Act and the increased importance of an independent chief compliance officer. Our Man From FCPA Tom Fox explores further.
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Blog
SEC issues new guidance on use of non-GAAP accounting
The SEC has updated its Compliance & Disclosures Interpretations guidance with a dozen new Q&As focused on how companies might report financial information outside the realm of Generally Accepted Accounting Principles without also running afoul of financial reporting requirements. More from Tammy Whitehouse.
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Blog
60 Minutes: The inside story of the fall of Roomy Khan and Raj Rajaratnam
Bruce Carton offers a look at a 60 Minutes piece called “Inside Edge” about former stock analyst Roomy Khan, who was caught early by federal prosecutors investigating insider-trading by hedge funds and ultimately became a critical government informant in the criminal case that brought down Galleon Group's Raj Rajaratnam and ...
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Article
Shedding light on the challenges of policy management
A study by NAVEX Global solicited the thoughts of nearly 1,000 executives on policy management and the systems they have in place for that process. Keeping policies current with continuously evolving laws and regulations was identified as a top challenge. Joe Mont takes an in-depth look at the results.
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Blog
Restatements take another turn for the better, Audit Analytics says
The total number of restatements that were serious enough to undermine reliance on prior financials fell to 161, the lowest level since 2006, according to the latest data from Audit Analytics. And the overall number of restatements dropped 12.7 percent in 2015 from the year before. Tammy Whitehouse has more ...
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Event
Corporate Governance: Effectiveness and Accountability in the Boardroom
ChicagoChicago, IL 11111United States
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Blog
PCAOB sanctions Hong Kong firm, U.S. affiliate
The Public Company Accounting Oversight Board has settled a disciplinary action against a Hong Kong firm and its U.S. affiliate over audit problems involving a U.S.-listed company based in China. Tammy Whitehouse has more.
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Blog
Centrus names chief compliance officer
Centrus Energy has appointed Dennis Scott as general counsel, chief compliance officer and corporate secretary, effective May 23.