All Compliance Week articles in Web Issue – Page 611
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Blog
J.P. Morgan to Pay SEC and CFTC $307 million for Disclosure Violations
Two JP Morgan wealth management subsidiaries today agreed to pay a total of $307 million to the Securities and Exchange Commission and the Commodity Futures Trading Commission in joint enforcement actions for failure to disclose conflicts of interest to clients. Both the CFTC and SEC charged J.P. Morgan Securities (JPMS) ...
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COSO Announces Internal Control Certificate Program
The Committee of Sponsoring Organizations of the Treadway Commission is offering an Internal Control Certificate Program that offers financial professionals, including internal auditors and CPAs, the opportunity to earn a professional certificate in the 2013 COSO Internal Control-Integrated Framework. The course includes self-paced learning, a hands-on workshop, and an online ...
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LifeLock Names General Counsel
LifeLock, a provider of proactive identity theft protection services, has named Sharon Segev as general counsel and secretary, effective Jan. 11, 2016.
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New ADP Solution Helps With Wage and Hour Compliance
ADP recently announced the launch of ADP Time & Attendance, a new time and attendance management solution designed to help small businesses simplify wage and hour law compliance, help control overtime, help reduce labor costs, and increase payroll accuracy and efficiency.
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Day Pitney Launches HIPAA Self-Assessment Tool
Day Pitney recently announced the launch of its HIPAA Self-Assessment Tool to help clients prepare for the second phase of HIPAA audits by the Department of Health and Human Services' Office for Civil Rights (OCR) in early 2016. The target for these audits has expanded beyond covered entities—healthcare providers, health ...
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OSHA Seeks Comments on Whistleblower Guidance for Employers
The Occupational Safety and Health Administration is seeking public comments on a draft document intended to provide guidance to employers on preventing retaliation against whistleblowers. Comments are due Jan. 19, 2016.
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Finance Teams Play Growing Role in Cyber-Risk Mitigation
According to a survey of 389 financial executives conducted by the American Institute of CPAs, 73 percent said they are being asked to take on a larger role in defending their companies from emerging cyber-risks, while another six percent said cyber-risk mitigation has become the primary responsibility of the finance ...
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Sharks Dispense with Professional Courtesy, Circle Slater & Gordon
I joked here earlier this month that perhaps "professional courtesy" might spare publicly traded law firm Slater & Gordon -- a major player in pursuing cases for plaintiffs in Australian securities class actions -- from ending up on the receiving end of a shareholder class action. Alas, that is ...
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Cherry Bekaert Wealth Management Names Chief Compliance Officer
Cherry Bekaert Wealth Management, a subdivision of accounting firm Cherry Bekaert has named Christine Slate as its new chief compliance officer.
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Navigating Dodd-Frank’s Whistleblower Provisions and the FCPA
The SEC recently reported that FY 2015 brought a new high for whistleblower tips regarding FCPA violations, and reiterated that the Dodd-Frank whistleblower incentive provisions have been a “game-changer” for FCPA enforcement. Last week, I hosted an interesting webcast on the subject of "Navigating the Minefield of Dodd-Frank’s Whistleblower Provisions ...
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The Big Challenge in New EU Data Protection Law: Values
Image: This week European officials agreed to a final text for a sweeping new data protection law. Compliance officers in the United States should brace themselves: not only does the legislation threaten huge fines and complicate corporate marketing efforts enormously; it underlines the fundamentally differing views Europeans and Americans have ...
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"America's Most Hated Man" Martin Shkreli Arrested for Securities Fraud
In recent weeks, Martin Shkreli, CEO of Turing Pharmaceuticals AG, has become the the “most hated man in America” for unapologetically raising the price of an important HIV-fighting drug from $13.50 to $750. It was with unbridled glee, then, that the media reported that Shkreli was arrested this morning on ...
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CFTC offers up cyber-security rules, margin requirements
The Commodity Futures Trading Commission is seeking to amend existing regulations regarding cyber-security testing and safeguards for the automated systems used by the firms it regulates. New rules would specify testing frequency requirements and require covered firms to have certain tests performed by independent contractors. In a separate matter, it ...
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Analyzing Your Risks in the Banking Sector
Image: Now that the Federal Reserve has raised interest rates for the first time in seven years, it’s as good a time as any to worry about risks in the banking system; and thankfully two different regulators—the U.S. Office of the Comptroller of the Currency, and the International Organizations of ...
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Top Banking Risks Tallied by OCC
Strategic, underwriting, cyber-security, compliance, and interest rate risks sit atop the Office of the Comptroller of the Currency’s list of supervisory concerns in its Semi-annual Risk Perspective. Banks continue to face strategic challenges to growing revenues to meet target rates of return in a slow-growth, low interest rate environment, the ...
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Poll: Lack of Quality Data Poses Due Diligence Challenges
Regulators are increasingly demanding greater evidence of well-developed anti-money laundering compliance programs, processes, and systems and controls, and yet global companies are struggling to keep pace with it all. According to a new webinar poll conducted by Arachnys and Charter, 50 percent of compliance teams said the greatest challenge posed ...
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Blog
New Tool Allows Traders to Access Historical Book Data
Trillium, a trading technology provider, today announced the launch of its Surveyor app for iPhone, the first mobile tool to provide access to depth of book quotes for the U.S. equities markets. “By giving everyone access to this free Big Data research and analytics tool, Trillium is bringing more transparency ...
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Blog
European Watchdog Urges Vatican to Toughen Up on Financial Crimes
The Council of Europe’s Moneyval Committee is calling on the Vatican to step up its anti-money laundering enforcement actions. Although the Vatican has finally revamped its regulations to address terrorist financing and money laundering, there’s still a lot of work needed to detect and prevent suspicious transactions, the regulator said.
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PCAOB’s Top Inspector Shares Plans for 2016
Image: When audit inspectors begin work on 2015 financial statements, they will be looking closely at the audit of internal controls, accounting estimates, misstatement risks. Those are the key themes from the 2014 financial statement inspections, said Helen Munter, director of inspections for the PCAOB. “Audit committees might wish to ...
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Blog
PCAOB’s Top Inspector Shares Plans for 2016
Image: When audit inspectors begin work on 2015 financial statements, they will be looking closely at the audit of internal controls, accounting estimates, misstatement risks. Those are the key themes from the 2014 financial statement inspections, said Helen Munter, director of inspections for the PCAOB. “Audit committees might wish to ...