All Compliance Week articles in Web Issue – Page 584
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Blog
AmBank Group appoints chief compliance officer
AMMB Holdings today announced the appointment of Faradina Mohammad Ghouse as igroup chief compliance officer, effecitve as of March 15.
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Article
ISO 37001 anti-bribery standard gains momentum
Image: The push to adopt ISO 37001, a uniform set of international anti-bribery management system standards, is gaining momentum on a global scale and ultimately will raise the bar for compliance officers looking to reinforce their anti-bribery compliance programs. “This is the first time that you will have an internationally ...
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Blog
Braid Group to pay £2.2 million in bribery case
Scotland’s prosecution service this week announced a £2.2 million civil settlement with Braid Group (Holdings), a Glasgow-based diversified global logistics company to resolve allegations that it obtained business through unlawful conduct. In a statement, Linda Hamilton, head of the Civil Recovery Unit, said that “Braid is to be commended for ...
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Article
Longer case closure times boost risk of whistleblowers reporting externally
Employers are taking longer and longer to act on internal whistleblower reports, which can frustrate employees who have been encouraged to step up and report what they see as unacceptable behavior. As reporters find their concerns languishing in limbo, the chances they might simply take their issue to an outside ...
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Blog
FASB offers guidance on hedge accounting complexities
Image: Hedge accounting can help organizations manage exposures that range from changing interest rates to counterparty credit risk. But the rules that govern hedge accounting are extremely detailed and require close compliance consideration. CW columnist Robert Herz discusses how, with new regulations proposed, things are only going to get more ...
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Blog
Criminal Division launches new FCPA pilot program
Effective today, the Department of Justice’s Criminal Division has launched a one-year “pilot program” in the Fraud Section’s FCPA Unit as part of the agency’s effort to promote both transparency and accountability. At the end of the one-year pilot period, the Fraud Section will determine whether to extend or modify ...
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Article
New accounting rules aim to make change for unredeemed gift cards
Everybody has an unspent gift card or two around the house. Maybe you just never got to the store to use it, or maybe there’s only got a few dollars left on it and it would feel like a pain to zero it out. But unspent cards like these are ...
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Blog
FCPA enforcement ramps up in Q1 2016
If it looks like FCPA enforcement is at a low ebb, judging by the amount of activity we saw in 2015, don’t be fooled. The SEC is prosecuting FCPA cases with vigor, and if some of the current enforcement actions underway are any indicator, we will not see a significant ...
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Article
Preparing for a HIPAA compliance audit
The Department of Health and Human Services’ Office for Civil Rights has officially kicked off its second phase of audits for covered entities and their business associates to review compliance with the Health Insurance Portability and Accountability Act’s privacy, security, and breach notification rules. CW’s Jaclyn Jaeger says healthcare CCOs ...
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Article
Boards are in the hot seat over dividends, stock buybacks
With the increased use and value of buybacks and dividends showing no sign of slowing—and with a distinct lack of regulatory involvement to consider—boards find themselves with the unenviable task of finding a Solomonic middle ground between opposing viewpoints on long-term and short-term strategy. Layered in, says reporter Joe Mont, ...
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BlogFASB plans new discussion on credit impairment effective date, guidance
Image: FASB is reconsidering the planned effective date for the final standard on credit impaiment and is promising clarifications after concerns were raised by community bankers and credit unions over whether the requirements would lead to difficult and costly accounting processes and procedures. FASB Chairman Russ Golden said the board ...
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Resource
e-Book: Playing the game of third-party risk
Third-party risk has always been a pain point for compliance officers, but external factors like globalization and escalating cyber-risks are continuously changing the way compliance officers have to think about how to manage third-party risk. In this e-Book, produced by Compliance Week in cooperation with RSA, we try to cut ...
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Blog
VimpelCom discloses more details on FCPA damages
Amsterdam-based VimpelCom, a global telecommunication services provider, said last week in its annual report with the Securities and Exchange Commission that it has set aside $105 million for legal expenses associated with its $795 million settlement reached last month with U.S. and Dutch prosecutors for paying bribes to a government ...
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Resource
The OCEG GRC Illustrated Series: GRC for Conflict of Interest Management
FACT: Employee conflicts of interest (COIs) are observed often, but reported rarely. COIs are the third most commonly observed type of misconduct, according to the 2013 National Business Ethics Survey (NBES), but only 49 percent of workers who observe COI misconduct are reporting what they see.FACT: Companies aren’t effectively managing ...
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Blog
Hertz Global names acting general legal counsel
Hertz Global Holdings has named Rick Frecker as acting general legal counsel, following the resignation of Thomas Sabatino, who is joining Aetna as executive vice president and general counsel, law and regulatory. Frecker, who has been with Hertz since 2008, has served as vice president and deputy general counsel for ...
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Blog
New York Attorney General Antitrust Bureau chief to join Gibson Dunn
Eric Stock, chief of the Antitrust Bureau at the New York Attorney General’s Office, will join law firm Gibson, Dunn & Crutcher as a partner in New York, where he will focus on antitrust litigation and investigations, as well as merger review, effective June 1.
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Blog
Tokio Millennium names chief risk officer
Switzerland-based Tokio Millennium, a reinsurance company, has appointed Andreas Kull as chief risk officer and as a member of its executive committee. He will succeed Akira Higuma, who will return as the group leader of global risk management, a unit within the international business development department of Tokio Marine Holdings.
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Blog
How SEC legend Judge Stanley Sporkin hired future luminaries
Image: Title: SporkinIn the past two weeks there have been two interesting articles written about SEC enforcement legend Judge Stanley Sporkin, the SEC’s second director of enforcement (and much more). Inside, enforcement blogger Bruce Carton looks at the takes on “Sporkin’s kids”—his SEC protégés who went on to become luminaries ...