All Compliance Week articles in Web Issue – Page 594
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Article
U.K. FCA issues strong new financial crime reporting rules
Taking issue with numerous reports that London is an ideal environment for money laundering and other financial crimes, the city is fighting back, writes Neil Hodge.
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Article
Audit committees: Here’s your wake-up call on auditor independence
Recent legal spats should alert public companies that they need to decide for themselves whether their audit is being delivered by a truly independent auditor. Tammy Whitehouse has more.
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Article
I’m alright, Jack: worker representation on boards
As new U.K. Prime Minister Theresa May has recommended worker representation on company boards, the question arises: Would this be better handled by promoting voluntary adoption, or by setting legal requirements? Paul Hodgson reports.
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Blog
Internal controls: trust but verify
Tom Fox looks at the recent scandal at Wells Fargo leading to the Consumer Finance Protection Board’s $185 fine and the firing of more than 5,000 employees after basically telling them: “It’s OK to break the law, as long as we make money.”
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Article
Federal contractors brace for insider threat rule
A new Department of Defense rule requires contractors to detect, deter, and mitigate insider threats. But how they should achieve that leaves plenty of gray areas, which does not sit well with contractors. Jaclyn Jaeger reports.
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Blog
FIFA opens formal proceeding against Sepp Blatter
The ethics committee of the Fédération Internationale de Football Association, the international governing body of professional soccer, has opened formal proceedings against Sepp Blatter, the disgraced former head of FIFA, for engaging in bribery and corruption. Jaclyn Jaeger reports.
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Blog
SEC charges two firms with compliance failures in wrap fee programs
Two investment advisory firm—Raymond James & Associates and Robert W. Baird & Co.—settled charges with the SEC related to compliance failures within their wrap fee programs. Jaclyn Jaeger has more.
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Blog
Innophos Holdings appoints corporate secretary
Innophos Holdings, an international producer of performance-critical and nutritional specialty ingredients, has appointed Joshua Horenstein as chief legal officer and corporate secretary. In this position, he will serve as the company's general counsel and lead legal expert to advise and provide strategic legal direction and execution for the global organization.
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Blog
Tipalti adds accounts payable tax compliance support for Argentina and Brazil suppliers
Tipalti, a global supplier of payments automation, has extended its accounts payable tax compliance capabilities to help companies collect and validate tax IDs from their suppliers in Argentina and Brazil. Businesses engaging with suppliers and partners in those countries can now ensure tax compliance by recording tax information for those ...
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Blog
FTI Technology launches new investigation features within Radiance
FTI Consulting, a global business advisory firm, announced the latest version of its Radiance vsual analytics software platform. With enhanced visualization and similarity search features, Radiance enables organizations to quickly analyze Big Data in support of investigations or pre-discovery fact-finding.
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Blog
Alpine Consulting forges alliance with Pitney Bowes
Pitney Bowes, a global technology company, recently forged a new alliance with Alpine Consulting, a firm that provides risk, threat, fraud, and compliance technology solutions.
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Blog
FASB proposes new approach to hedge accounting
After finishing rules on the recognition and measurement of financial instruments and on loan losses, FASB is turning its attention back to hedge accounting with a new proposal. Tammy Whitehouse reports.
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Podcast
Podcast: The new era of regulatory enforcement
Podcast: The new era of regulatory enforcementGlobalization, terrorist attacks, the digital world, and aftermath of the great recession are all shaping a complex business landscape with unprecedented risks. In our latest podcast, we talk to KPMG's Timothy Hedley and Richard Girgenti about these challenges and their recently published book, “The ...
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Blog
Podcast: The new era of regulatory enforcement
Globalization, terrorist attacks, the digital world, and aftermath of the great recession are all shaping a complex business landscape with unprecedented risks. In our latest podcast, we talk to KPMG’s Timothy Hedley and Richard Girgenti about these challenges. Joe Mont has more.
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Blog
CFTC wants to beef up whistleblower incentives
The Commodity Futures Trading Commission is looking to beef up its enforcement efforts with proposed amendments to its whistleblower rules. The move comes, says Joe Mont, as the SEC’s whistleblower bounty program recently surpassed the $100 million mark.
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Blog
CFPB slams Wells Fargo with its largest ever fine
Is the Wells Fargo Wagon a-comin’ down an ethical street? The banking giant has been hit with the largest fine ever ($185M) by the Consumer Financial Protection Bureau in addition to terminating 5,300 employees and redoubling efforts to establish an ethical culture. Joe Mont reports.
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Blog
Medical equipment companies to pay $12M for False Claims Act violations
U.S. Healthcare Supply and Oxford Diabetic Supply will pay the United States more than $12.2 million for a False Claims Act violation in which they used a fictitious entity to make unsolicited telephone calls to Medicare beneficiaries. Jaclyn Jaeger reports.
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Blog
CAMs in new audit report would protect auditors, study says
If the PCAOB requires CAMs, or disclosures of critical audit matters, it will raise doubt in financial statements while protecting auditors from litigation, a new study says.
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Blog
First Bank of Nigeria appoints chief risk officer
First Bank of Nigeria has appointed Olusegun Alebiosu as its new chief risk officer (CRO). His appointment is still subject to approval by the Central Bank of Nigeria.
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Blog
EnteroMedics names new chief compliance officer
EnteroMedics, a medical-device company, has appointed Scott Youngstrom as chief compliance officer. He also will assume the additional role of chief financial officer.