All Compliance Week articles in Web Issue – Page 605
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DreamWorks Animation Chief Accounting Officer Resigns
DreamWorks Animation announced last week in a Form 8-K filing that Edward Aleman, the company's chief accounting officer, notified the company of his intent to resign for personal health reasons.
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Court: Compliance Officers Must Ensure Compliance With AML Laws
A federal district court this month upheld a $1 million fine imposed against the former chief compliance officer for MoneyGram International, finding that individual officers of financial institutions, including chief compliance officers, may be held responsible for ensuring compliance with the anti-money laundering provisions of the Bank Secrecy Act.
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RMS Launches New Data Standard for Managing Cyber Insurance
Ahead of the February launch of its new suite of cyber-risk management tools, RMS today released its recently developed Cyber Exposure Data Schema. The ‘open standard’ data schema will provide the insurance industry with a systematic and uniform way to capture cyber exposure data and manage cyber accumulation risk.
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Zain Group Names Chief Risk Officer
Zain Group, a mobile telecommunications company headquarted in Kuwait, has announced the promotion of AbdulGhaffar Setareh to the newly created role of chief risk officer, reporting to the risk committee. In this new role, Setareh will be responsible for delivering the global risk framework and strategy across all operations within ...
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Exiger Names New Head of Hong Kong Office
Exiger, the global regulatory and financial crime, risk and compliance firm, has appointed Jake Scrivens as managing director to lead the firm’s Hong Kong office.
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Duff & Phelps Expands Global Disputes and Investigations Practice
Duff & Phelps, a global valuation and corporate finance advisor, has added managing director Steve Cornmell and director Victoria Richards to its Disputes and Investigations practice in London. The addition of these new professionals aligns with the firm’s strategy to expand its capabilities in disputes and investigations and strengthens its ...
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Deloitte Names U.S. Financial Services Industry Leader
Deloitte this month named Kenny Smith, currently a vice chairman of the firm, as U.S. leader of its financial services industry group. In addition, Deloitte announced that a number of high-powered new professionals have joined Deloitte’s U.S. financial services industry team. Details inside.
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PwC’s Cyber-Security Practice Adds New Principal
PwC US has named Patrick Hynes as a principal in the advisory cyber-security practice, focused on cyber-crime and breach response. He is based in PwC’s Los Angeles office.
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Bloomberg Acquires Netbox Blue
Bloomberg this month announced that it has acquired the intellectual property, patents, and engineering assets of Netbox Blue, a global provider of social media risk management and compliance solutions. The acquisition extends Bloomberg Vault’s surveillance, e-Discovery and information governance tools to help clients monitor and control the use of ...
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Former FinCen Chief Counsel Joins Crowell & Moring
Law firm Crowell & Moring has named Carlton Greene as partner in both its International Trade and White Collar & Regulatory Enforcement Groups. Greene joins the firm after serving as chief counsel of the U.S. Department of the Treasury, Financial Crimes Enforcement Network.
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SEC Charges State Street for Pay-to-Play Scheme
State Street Bank and Trust Company last week reached a $12 million settlement with the Securities and Exchange Commission to settle charges that it conducted a pay-to-play scheme through its then-senior vice president and a hired lobbyist to win contracts to service Ohio pension funds.
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American National Names New Chief Accounting Officer
American National Bankshares, parent company of American National Bank and Trust Company, has appointed Cathy Liles as chief accounting officer, effective as of on Jan. 4. She reports to Executive Vice President and Chief Financial Officer William Traynham.
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PCAOB Sanctions China-Based Firm for Stalling Investigation
With its negotiations over regulatory access to China stalled, the PCAOB has settled a disciplinary order against Hong Kong audit firm PKF HK and three employees accused of failing to cooperate with an investigation. The board has revoked the registration of the company and censured the firm, contending that PKF ...
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2016 SEC Trial Scorecard Update: Agency Remains Undefeated After Two Trials
In the SEC's second federal court trial to reach a verdict in FY 2016, a federal jury in Pennsylvania found in favor of the SEC. The jury found Nan Huang, a former data analyst at Capital One, liable for engaging in a creative insider trading scheme that involved searching a ...
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From Bad to Worse -- and Finally to Prison -- for Apple Day-Trader Sued by SEC
I always try to warn people not to get themselves thrown in prison by obstructing justice in SEC investigations. No really, I do! They just don't listen.
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PayPal Appoints New Board Member
PayPal Holdings has appointed Wences Casares to its board of directors, effective of as of Jan. 12. He will serve on PayPal’s compensation committee.
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Layne Christensen Appoints New Board Member
Layne Christensen, a global solutions provider to the world of essential natural resources, has appointed Alan Krusi to its board of directors, effective Jan. 15.
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NYC Comptroller Expands Proxy Access Demands
On behalf of New York City’s public pension funds, Comptroller Scott Stringer has announced the expansion of an initiative that uses shareholder resolutions to pressure companies to adopt meaningful proxy access bylaws. In 2016, 72 companies will be asked to enact a 3 percent ownership threshold for the ability to ...
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Remember When David Bowie Went Wall Street on Us?
Image: In 1997, just before the music industry was about to be turned upside down by a Black Swan-level of remarkable circumstances, legendary rock artist David Bowie issued bonds on his future royalties, earning a handsome payday for himself, and managing to sidestep a financial cataclysm in the making. Was ...
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With IASB Leasing Rule Final, FASB Calls on US Companies to Plan Adoption
As the IASB has released its final leasing standard, FASB is now calling on U.S. companies to begin planning to adopt FASB’s incoming lease rules. The board is retaining an accounting model that contemplates two types of leases similar to the way they are categorized in GAAP currently; on the ...