All Compliance Week articles in Web Issue – Page 615
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Blog
SEC Takes Another Crack at Extractive Payments Rule
After years of delays and lawsuits, the Securities and Exchange Commission will meet on Friday morning to debate whether it is ready to propose a new rule that requires publically traded oil, gas, and mining companies to disclose payments made to governments for extraction rights. The Dodd-Frank Act mandate led ...
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First British DPA Provides Much to Ponder
It has finally come to pass: the first deferred-prosecution agreement under the U.K. Bribery Act. From the role of judicial oversight (greater than that in the United States) to the final statement of facts (much greater than that in the United States), the settlement with ICBC Standard Bank is full ...
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What Makes a Good ‘Pen Tester’
Penetration testing is the exercise of testing a company’s cyber-security defenses, and finding the right “pen tester” to do that can be difficult. Learn how to find the right blend of capable, trustworthy, and innovative cyber-security professionals. More inside.
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Cordium Launches Social Media Review Service
Cordium, a global provider of compliance consulting and software solutions to the financial services industry, has announced the launch of a new social media review service. Cordium’s compliance consulting team has historically offered social media reviews to its clients as part of its broader compliance consulting program, but this is ...
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FASB Tests Materiality Ideas With Fair-Value Disclosure Proposal
As part of its effort to improve disclosure requirements, FASB is proposing new disclosure provisions around fair-value measurements to make fair-value disclosures more meaningful to investors. The proposal says entities would provide required disclosures if they are material, and would remove phrases such as “an entity shall disclose at a ...
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IT Audit Executives Struggle With Pace of Change, Survey Shows
Image: Rapid innovation, disruption, and growth in cyber-security risks are the biggest technology challenges for IT auditors, a survey from ISACA and Protiviti says. Managing Director David Brand says, “IT audit professionals have recognized the need to grow their knowledge and expertise while also updating their policies, processes, people, and ...
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Grand Opening: Photo Wing of the Enforcement Action Art Gallery!
In September 2015, I was motivated by an awesome drawing of the five SEC commissioners reimagined as WWE wrestlers to launch the Enforcement Action Art Gallery. It occurs to me, however, that there are many photographs that need to be preserved, as well. Welcome to the new Photo Wing!
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Hitachi Settles Case With African Development Bank
The African Development Bank Group (AfDB) announced this week that it reached a settlement agreement with Japan-based Hitachi. The African Development Bank (AfDB) Integrity and Anti-Corruption Department alleged that Germany-based Hitachi Power Europe, and its South African subsidiary, Hitachi Power Africa, engaged in sanctionable practices in exchange for a boiler ...
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Blog
SFO: Sweett Group Admits to Bribery
The U.K. Serious Fraud Office this week confirmed that Sweett Group, a British property management, construction and surveying company, admitted to violating the Bribery Act, regarding conduct in the Middle East. The resolution would mark the SFO’s first conviction since enactment of the Bribery Act in 2011. More inside.
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Blog
Lincoln Financial Group Names General Counsel
Lincoln Financial Group has named Kirkland Hicks as general counsel, effective Dec. 10, 2015. In this role, Hicks will oversee all activities for the law, compliance, government relations, and corporate secretary functions of the company, as well as provide strategic counsel to the CEO and senior management team. Details inside.
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Blog
FreightCar America Names General Counsel and Corporate Secretary
FreightCar America, a manufacturer of freight cars for the railway industry, has named Georgia Vlamis as general counsel and corporate secretary, effective as of Dec. 1. In her role, Vlamis serves as a key member of the company’s leadership team, with responsibility for all aspects of the company’s legal affairs. ...
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GfK Names General Counsel for the Americas
Research company GfK has appointed Anna Maria Vitek as senior vice president and general counsel for the Americas. Vitek joins GfK from Avon Products, where she was general counsel and chief compliance officer, Latin America. Details inside.
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SynerMed Names Chief Compliance Officer
SynerMed, a healthcare platform provider for government-sponsored healthcare programs, has named Renée Delphin-Rodriguez as general counsel and chief compliance officer. Reporting to the Chief Executive Officer James Mason and the board of directors, she will oversee the company’s legal, regulatory affairs and compliance functions. Details inside.
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Blog
Ollie's Appoints Chief Accounting Officer
Ollie's Bargain Outlet Holdings has hired Jay Stasz as senior vice president of finance and chief accounting officer. In this capacity, Stasz will report to Executive Vice President and Chief Financial Officer John Swygert.
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Blog
The Press and Exposure of Corruption: BAT Is Next
Allegations of bribery can come to light in many ways, but one way not usually mentioned—that was prominently featured last week—is through news reports. This time the media outlet was the BBC, and the allegations were that bribery at British American Tobacco Co. had occurred in violation of the Bribery ...