All Compliance Week articles in Web Issue – Page 581
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Blog
The Nu Skin FCPA enforcement action reminds all of the cost of non-compliance
Tom Fox looks at the recent enforcement action against Nu Skin: a one-time bribe equals a one-transaction enforcement action.
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Blog
Wells Fargo CEO retires amid cross-selling scandal
Wells Fargo CEO John Stumpf called it quits on Thursday, retiring amid revelations that at least 2.5 million unauthorized accounts and credit cards were opened on behalf of unsuspecting customers. The hasty departure, however, says Joe Mont, may not satisfy his most vocal critics.
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Blog
FASB drops ‘step two’ of goodwill impairment testing
With simplicity wining over precision, FASB has decided it will do away with the onerous second step of the goodwill impairment test. Tammy Whitehouse reports.
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Article
Amid rate debates, Federal Reserve maintains a regulatory drumbeat
Arguments over monetary policy may dominate Federal Reserve discussion, but aside from that its influence as a regulator keeps growing. Joe Mont looks at how Chair Janet Yellen’s report to Congress went down.
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Blog
Disclosure effectiveness gains traction and momentum
A host of private and regulatory groups are making big strides in improving disclosure effectiveness. Robert Herz has more.
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Article
Plantronics decision calls for stricter vigilance in e-Discovery compliance
Living up to various e-Discovery requirements from different states and regulatory agencies means a comprehensive compliance digital record overhaul. David Bogoslaw reports.
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Article
7 reasons to study COSO’s new Fraud Risk Management Guide
COSO’s new fraud guide is not mandatory but, says Tammy Whitehouse, public companies would be wise to study and consider it anyway because it could eventually become a requirement.
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Blog
San Francisco, we have a problem
Richard Steinberg asks: If Wells Fargo CEO John Stumpf had realized how big his problems were about to become, would he have acted differently?
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Article
Q&A: Farient Advisors’ John Trentacoste
Joe Mont talks with John Trentacoste, a director at Farient Advisors, on how Wells Fargo’s woes may influence boards’ compensation decisions.
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Article
When charitable donations equal bribery
Bribes disguised as charity contributions may not be paving the road to hell with good intentions, but they come close. More from Jaclyn Jaeger.
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ArticleFending off executive impersonation schemes
Everybody thinks they would never fall for an obvious cyber-scam … until they do. Jaclyn Jaeger reports.
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Blog
A gut-punch for the CFPB: Court rules independent director is unconstitutional
A 2-1 ruling by a judicial panel of the U.S. Court of Appeals for the D.C. Circuit says that the Consumer Financial Protection Bureau, as currently composed, is unconstitutional. Joe Mont has more.
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Blog
Bankers expect big accounting change under CECL model
Bankers expect CECL, a new rule on how to reflect credit losses in financial statements, to produce big accounting changes. According to Tammy Whitehouse, some say it is the biggest change ever.
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Blog
Valvoline appoints chief accounting officer
Valvoline, a company that provides motor oil and automotive lubricants, said this week in a securities filing that it has appointed David Scheve as controller and chief accounting officer, effective as of Oct. 10.
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Blog
At PDVSA, the costs of corruption extend to bond swaps
Tom Fox explores anti-corruption lessons gleaned from Venezuelan national energy company Petróleos de Venezuela’s failed debt swap offer.
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Blog
Is Weatherford under another FCPA investigation?
A recent SEC announcement regarding a $140M penalty Weatherford paid to settle charges that it inflated earnings mentioned a continuing investigation. What’s curious, notes Tom Fox, is that those investigating are known for their work in FCPA enforcement.
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Blog
Was the GlaxoSmithKline FCPA resolution a missed opportunity?
Tom Fox questions whether U.S. regulators missed a chance to illustrate how they would give credit for anti-corruption prosecutions done by other governments in the case of GlaxoSmithKline’s China subsidiary’s recent FCPA resolution.
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Blog
Credit Suisse to pay $90M for misrepresenting performance metric
Credit Suisse has agreed to pay a $90 million penalty and admit wrongdoing to the SEC to settle charges that the company misrepresented how it determined a key performance metric of its wealth management busines. Jaclyn Jaeger has more.
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Blog
Baylor University names chief compliance officer
Baylor University has appointed Doug Welch, who has served as associate general counsel at the university since 2006, as chief compliance officer.
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Blog
Top CEO pay not always result of shareholder return
Joe Mont explores new research from The Conference Board that says CEOs at the nation’s top companies have landed atop the list of the 25 highest paid executives every year since 2012, a trend that may have little to do with the price of company stock.