All Compliance Week articles in Web Issue – Page 608

  • Blog

    CipherCloud unveils GDPR-ready cloud security solution

    2016-06-17T14:45:00Z

    CipherCloud, a cloud security company, announced the availability of the industry’s first cloud security solution designed to help companies comply with the European General Data Protection Requirement (GDPR).

  • Blog

    Sen. Warren, Chair White and the circle of disappointment

    2016-06-17T09:30:00Z

    At a hearing this week, Sen. Elizabeth Warren tried to hang her "disappointment" on SEC Chair Mary Jo White for the third time in 12 months. This time, to Sen. Warren's surprise, Chair White was ready to fight disappointment with disappointment.

  • Blog

    Lax controls—a cancer at one bank

    2016-06-16T17:30:00Z

    Bill Winters, CEO of the U.K. bank Standard Chartered may have set a new precedent for taking a hard stance on ethics and compliance recently, when he penned an angry memo to 1,500 top managers announcing steps he has taken to “stamp out the cancer of complacency and lax controls” ...

  • Blog

    SEC proposes modernizing mining company disclosures

    2016-06-16T16:30:00Z

    The latest step toward disclosure effectiveness: The SEC has proposed rules to modernize disclosure requirements for mining registrants and align them with global standards. The rules would rescind Industry Guide 7 and include the updated mining property disclosure requirements in a new subpart of Regulation S-K. More from Joe Mont.

  • Blog

    Flurry of bills and proposals seek regulatory reform

    2016-06-16T16:15:00Z

    With the arrival of summer, battles over the U.S. regulatory regime are heating up. Earlier his month, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) unveiled a plan “to replace the Dodd-Frank Act.” It is now supplemented by a slate of “economic growth bills” approved by the Financial Services Committee ...

  • ConflictMinsImage
    Blog

    EU moves forward on conflict minerals framework

    2016-06-16T12:45:00Z

    European Union officials have agreed on a regulatory framework regarding “conflict minerals” and the responsible sourcing of tin, tantalum, tungsten, and gold. It includes obligations for the “upstream” part of the conflict minerals supply chain, including smelters and refiners, but exempts imports of finished products. Joe Mont reports.

  • Blog

    FASB finalizes new rule to accelerate recognition of loan losses

    2016-06-16T11:00:00Z

    FASB has finalized its long-awaited standard giving companies a new, more forward-looking way to account for credit losses in their portfolios. The standard will require companies to reflect expected credit losses on financial assets based on their historical experience, current market conditions, and even forecasts. Tammy Whitehouse has an in-depth ...

  • EuropeHoliday4
    Blog

    Brexit: ‘Don’t leave me this way’

    2016-06-15T12:15:00Z

    “Don’t leave me this way,” screams a headline from Dutch daily Algemeen Dagblad. The Netherlands fears Britain’s exit will be bad for its reputation. Paul Hodgson reports.

  • Blog

    Fannie Mae names chief audit executive

    2016-06-15T10:30:00Z

    Fannie Mae has appointed J. Douglas Watt as chief audit executive, effective July 11. Watt joins Fannie Mae from GE Capital, where he was managing director and audit executive for the Americas.

  • Blog

    Unaoil initiates legal action against Fairfax Media

    2016-06-15T10:15:00Z

    Unaoil this week said in a statement that it has instructed its lawyers to commence legal action against Fairfax Media and its partners in relation to the malicious and damaging allegations negligently published by these media organizations. Jaclyn Jaeger reports.

  • Blog

    Big 4 polls say companies are stalled on big accounting changes

    2016-06-15T10:15:00Z

    More Big 4 surveys on big accounting changes suggest companies are starting to face a kind of paralysis over how to move forward and make it all work. On revenue recognition a recent KPMG poll suggests the vast majority of companies are still trying to digest how it will affect ...

  • Blog

    Justice Department: Biomet violated deferred prosecution agreement

    2016-06-15T10:00:00Z

    The Department of Justice said in a court filing this month that it has determined that Biomet breached the terms of a deferred prosecution agreement that the medical device maker entered into with the government in 2012. Jaclyn Jaeger reports.

  • Event

    9th China Forum on Anti-Corruption

    2016-06-15T07:00:00Z 2016-06-17T21:00:00Z

  • Blog

    FINRA announces CEO transition

    2016-06-14T16:30:00Z

    The Financial Industry Regulatory Authority’s Board of Governors has concluded its CEO search, and appointed Robert Cook as president and chief executive officer, effective the second half of 2016. Cook will succeed Richard Ketchum, who has served as chairman and CEO since 2009. Joe Mont has more on the transition.

  • Blog

    COSO offers up new ERM framework for review

    2016-06-14T16:00:00Z

    The Committee of Sponsoring Organizations of the Treadway Commission, or COSO, has unveiled a proposed redraft of its 2004 ERM framework. “We wanted to create a more robust focus on risk in the strategic planning process,” says PwC Partner Dennis Chesley, a lead partner for the revision project. Tammy Whitehouse ...

  • Article

    Panama Papers still a ‘gift’ that keeps on giving for compliance officers

    2016-06-14T15:30:00Z

    What’s next for the infamous Panama Papers scandal? As governments around the world craft opportunity from crisis with various new rules and regulations, CCOs at financial institutions may find themselves at an inflection point. The challenge: how to leverage all that once-hidden data on shell companies? Joe Mont reports.

  • Article

    Integrating technology into compliance programs still poses significant challenges

    2016-06-14T15:30:00Z

    Implementing powerful technologies to improve compliance programs isn’t exactly like waving a magic wand. It requires a great deal of collaboration, time to interpret relevant data, patience, trial and error, and a vision for how to harness the full potential of a category of tool nobody is really certain how ...

  • Article

    LendingClub could teach Theranos a thing or two about crisis management

    2016-06-14T15:30:00Z

    Relatively young, technology-based companies face special difficulties when dealing with crises. Their focus on market disruption and their lack of established credibility make earning public trust even more difficult. And yet, LendingClub shows how it can be done at a time when Theranos certainly failed the crisis management test. David ...

  • Article

    Don’t go it alone: working with other functions

    2016-06-14T15:00:00Z

    During a panel discussion at Compliance Week 2016, ethics and compliance officers came together to discuss both the challenges and opportunities associated with working with other functions and how to minimize turf wars and silos while enhancing the compliance program. Jaclyn Jaeger reports.

  • Article

    The case for principles-based accounting

    2016-06-14T14:00:00Z

    The debate over which is the better accounting standards philosophy–principles or rules—rages on. As a 40-year veteran of the auditor and preparer community, IASB member Gary Kabureck is lending his unique perspective to the discussion.