All Compliance Week articles in Web Issue – Page 624
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Blog
ChannelAdvisor Names New Chief Accounting Officer
ChannelAdvisor, a provider of cloud-based e-commerce solutions, has promoted Richard Cornetta to vice president of finance and chief accounting officer. Cornetta will report to Chief Financial Officer Mark Cook. Details inside.
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Blog
Seven SEC Enforcement Directors Convene For Historic Panel
At yesterday's Securities Enforcement Forum 2015, a Directors Panel was held that included seven current or former SEC Directors of Enforcement--including Hon. Irving Pollack, the very first Enforcement Director, and Andrew Ceresney, the current Director.
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Resource
e-Book: Understanding Anti-Corruption Compliance
Enforcement of the U.S. Foreign Corrupt Practices Act and U.K. Bribery Act has skyrocketed in recent years, and it's no surprise that bribery and corruption risks continue to keep compliance officers up at night.This e-Book, produced by Compliance Week in cooperation with KPMG, explores what countries are doing on the ...
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Blog
SEC Mulls Audit Committee Mandates as Voluntary Disclosures Grow
As the SEC considers the potential for new disclosure requirements for audit committees, audit committees themselves are volunteering more, according to recent analysis by the Center for Audit Quality and Audit Analytics. The analysis revealed one-fourth of companies in the S&P 500 enhanced their discussion around the audit committee’s appointment ...
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Blog
Commerzbank Chooses New Chief Risk Officer
Commerzbank has promoted Marcus Chromik to become its new chief risk officer, effective Jan. 1, 2016. He succeeds Stefan Schmittmann, who informed the company in September of his intent to leave the bank at the end of this year. More inside.
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Blog
Deutsche Bank to Pay $258 Million for Sanctions Violations
Deutsche Bank today reached a $258 million settlement with the New York State Department of Financial Services and the Federal Reserve regarding transactions with countries and entities subject to U.S. sanctions, including Iran, Libya, Syria, Burma, and Sudan. As part of the settlement, the bank also has agreed to install ...
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Blog
Europe and Petrobras—What Has a Car Wash Wrought?
Image: The scope of the Petrobras corruption scandal is literally worldwide. Now, reports the Financial Times, Rolls Royce has become embroiled in the Brazilian national energy company’s “Operation Car Wash” snafu (dubbed so because the investigation literally started with a car wash), and is currently under investigation by the ...
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Resource
Free Guide: Conducting Pre-Contract Vendor Due Diligence
Today’s global, digital economy opens up a world of opportunities—and a whole new world of risk exposure. When important parts of your business can be fulfilled anywhere, risks may be everywhere.If one of your vendors takes a hit, you could take the fall. Which begs the question: Do you have ...
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Blog
U.K. Serious Fraud Office: ‘Why Engage At All?’
At a recent anti-bribery forum in London, Ben Morgan, joint head of bribery and corruption for the Serious Fraud Office, spoke about companies that have been prosecuted and investigated for bribery and corruption. Morgan pointed out that while no legislation is on the horizon to reward whistleblowers financially, ...
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Event
The Risk, Compliance, and Finance Executive Summit on Solving the Compliance Dilemma
New YorkNew York, NY 11111United States
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Blog
AICPA Begins Floating Revenue Recognition Drafts
Image: The American Institute of Certified Public Accountants has assembled 16 industry task forces to examine industry-specific implementation questions that are emerging as companies prepare to adopt the new principles-based revenue recognition standard. The working drafts provide insight and examples around nine specific questions, says Kim Kushmerick, senior technical ...
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Blog
Vimplecom Braces for Massive Bribery Settlement
Amsterdam-based Vimplecom, a global telecommunication services provider, announced today that it has set aside USD$900 million in connection with an ongoing bribery investigation. The Securities and Exchange Commission, the Department of Justice, and the Dutch Public Prosecution Service are conducting investigations relating primarily to VimpelCom’s business in Uzbekistan and prior ...
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Article
Parsing the Difference Between GRC & ERM
Image: Lots of executives know the difference between compliance and risk management conceptually. But the difference between “governance, risk, and compliance” and “enterprise risk management”—not so much. This week, we pick apart both acronyms. “Compliance is typically what 90 percent of GRC software does,” says Steven Minsky, CEO of software ...
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Blog
Caldwell Explains New Compliance Officer Counsel
Image: During remarks at a recent conference in New York, Assistant Attorney General Leslie Caldwell offered some insight about the Justice Department’s newly established compliance counsel position and how this individual will help the Criminal Division assess compliance programs. “Unfortunately, a surprising number of companies still lack rigorous compliance programs,” ...
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Article
Compliance Officers Brace for U.K. Senior Managers Regime
Image: During a panel discussion at Compliance Week’s Europe conference in Brussels last week, compliance executives discussed the broad implications of the new Senior Managers Regime, which makes senior executives personally accountable to regulators for their actions. You’ll also read a candid story of what a run-in with the Financial ...
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Blog
SEC Files Crowdfunding Fraud Complaint
In the same month that the Securities and Exchange Commission approved Regulation Crowdfunding, permitting startups and small businesses to raise capital by offering and selling securities through crowdfunding, the agency also filed its first complaint for crowdfunding fraud. The case highlights the emerging risk posed by online fundraising for the ...