All Compliance Week articles in Web Issue – Page 576
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Blog
SEC in the movies: 'The Big Short'
The SEC and the topic of "regulatory capture" make a brief but memorable appearance in The Big Short, the Academy Award-winning film based on the best-selling book by Michael Lewis.
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Blog
Bill would amend SOX, add cyber-security certifications
Newly proposed legislation would amend the Sarbanes-Oxley Act to expand mandated internal controls reports and disclosures to include cyber-security systems and risks of publicly traded companies. The Cyber-security Systems and Risks Reporting Act, sponsored by Rep. Jim McDermott (D-Wash.), has been referred to the House Committee on Financial Services. Joe ...
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Blog
Olympus names global chief compliance officer
Olympus, a global medical device company based in Tokyo, Japan, announced the promotions of two senior level positions in the company's compliance and legal departments, including a new global chief compliance officer.
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Blog
Saudi Aramco names general counsel and corporate secretary
Saudi Aramco, a Saudi Arabian national petroleum and natural gas company, has named Nabeel Al Mansour as general counsel and corporate secretary, effective as of May 1.
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Blog
Ally Financial names general counsel
U.S. financial services company Ally Financial (previously known as GMAC) has appointed Scott Stengel as general counsel, effective May 31. He will assume the role from William Solomon, who will retire after more than 27 years with the company, effective Sept. 30.
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Blog
Survey: The toll of bribery and corruption on companies
Corruption, fraud, and other misconduct continue to plague compliance and legal officers at multinationals around the world, according to a recent global anticorruption survey conducted by AlixPartners. Jaclyn Jaeger provides an in-depth look at the survey results.
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Blog
Harris: No DoJ action in FCPA case
Defense contractor Harris said last week in a quarterly filing that the Department of Justice has decided not to take any action following the completion of its investigation into potential violations of the Foreign Corrupt Practices Act. The SEC’s investigation remains ongoing.
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Blog
Visa names principal accounting officer
Visa has appointed James Hoffmeister, who is currently global corporate controller and chief accounting officer, as principal accounting officer for purposes of the company’s filings with the Securities and Exchange Commission. Hoffmeister will oversee the company’s accounting matters.
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Blog
Astellas appoints new compliance and legal leaders
Pharmaceutical company Astellas announced several new appointments to its ethics and compliance and U.S. legal departments, effective as of April 25.
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Blog
Och-Ziff sets aside $200 million for FCPA probe
Och-Ziff Capital Management Group, a publicly traded hedge fund firm, disclosed in a quarterly filing this week that it has accrued a $200 million loss, thus far, to resolve violations of the Foreign Corrupt Practices Act. It also said its “probable” that the government will pursue civil and criminal sanctions.
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Blog
PCAOB ponders possible change in inspection approach
Word from the Public Company Accounting Oversight Board is that the inspections process could be changing. According to board member Jeanette Franzel, the agency is “exploring the potential for more random selection of audits and audit areas to inspect.” Tammy Whitehouse has more.
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BlogPost ‘Panama Papers,’ Treasury sets rulemaking agenda
In the wake of the “Panama Papers” scandal, Treasury Department officials pledged a focus on issues related to shell companies and beneficial ownership. Making good on that promise, says Joe Mont, the agency has announced several actions, including: a customer due diligence final rule; proposed legislation on beneficial ownership, and ...
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Blog
GAO warns SEC about data protection practices
A report by the Government Accountability Office finds that while the SEC has made strides in improving the security of its data and resolving previously identified problems, “weaknesses continue to limit the effectiveness of other security controls.” Joe Mont explores what steps the Commission should take, according to the report.
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Blog
What is the 'KickAss Insider Trading Forum?'
It seems to me that if you are actually able to create an online forum of hackers and others that allows you to engage in profitable insider trading, that you might want to keep that on the "down low." According to a recently-published interview, the "KickAss Insider Trading Forum" ...
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Blog
Cato Institute paper proposes JOBS Act improvements
On the same day the SEC announced it had completed the remaining workload on JOBS Act mandates, conservative think tank the CATO Institute, in an unrelated effort, offered its thoughts on how the legislation is meeting capital formation goals and ways it could be improved. Joe Mont reports.
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Blog
Novartis names new chief ethics and compliance officer
Novartis has named Shannon Klinger as chief ethics and compliance officer and head of litigation, effective as of May 1. She assumes these responsibilities from Eric Cornut, who is retiring at a time when Novartis is facing a criminal investigation amid allegations that it made illegal payments to physcians in ...
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Resource
Conducting Pre-Contract Vendor Due Diligence
In ProcessUnity’s new whitepaper, you will learn how to get it right from the start, using pre-contract due diligence to intercept risks before they become problems.
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Blog
BDO Consulting expands financial services advisory
BDO Consulting, a division of professional services firm BDO USA, has appointed Gary Swiman as head of regulatory and compliance consulting for its financial services advisory practice.
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Blog
Tipalti SuiteApp achieves ‘Built For NetSuite’ status
Tipalti, a supplier of payments automation solutions, announced that its Tipalti SuiteApp has achieved ‘Built for NetSuite’ status. The new SuiteApp, built using NetSuite’s SuiteCloud Platform, integrates with NetSuite OneWorld to provide one unified accounts payable automation solution, helping finance departments streamline their entire global supplier payment operation.