All Compliance Week articles in Web Issue – Page 634
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Blog
Are you a Top Mind?
Image: Compliance Week is profiling some of the brightest and most influential thought leaders in the world of governance, risk, and compliance as part of our inaugural Top Minds project—a series of in-depth profiles of corporate compliance officers, advisors, regulators, academics, and other experts to better understand how they view ...
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Blog
GE Capital seeks to shed ‘too big to fail’ status
One day after a federal judge revoked MetLife’s designation as a “systemically important financial institution” by the Financial Stability Oversight Council, GE—specifically the wholly owned subsidiary GE Capital—is requesting that it also be able to shed the classification and increased regulatory demands that come with being “too big to fail.”
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Article
How employee hotlines can improve organizational well-being
According to the CDC, in 1965 more than forty percent of the U.S. population smoked. After decades of persistent education, the general population has come to realize that best practices include healthy decisions; decisions that increase well-being and reduce expenses. Today, less than twenty percent of the population are smokers ...
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Mutual fund directors grapple with risk, regulation
Complex risks connected to derivatives, liquidity, and trading mean that mutual fund boards must ensure they are equipped to address continuously evolving challenges, while not stepping over the line that divides oversight from day-to-day management. That’s the word from SEC Chair Mary Jo White, who delivered the keynote address at ...
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SFO general counsel Alun Milford offers details on inner workings of SFO
Image: During remarks at the European Compliance and Ethics Institute conference in Prague, Alun Milford, general counsel for the U.K. Serious Fraud Office, provided some rare insight into the inner workings of the SFO. He also provided some hints on cases that are on the horizon, including “a LIBOR-fixing trial ...
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BlogJudge sides with MetLife in battle over SIFI designation
A federal judge has sided with insurance giant MetLife in its effort to remove the “systematically important financial institution” designation placed upon it in 2014 by the Financial Stability Oversight Council. The ruling is unlikely to mark the end of the battle as the government has the option of either ...
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Blog
German World Cup bid now under FIFA scrutiny
The ongoing FIFA corruption scandal takes on new life as some of the top names in German soccer, as well as sports apparel manufacturer Adidas, appear to be implicated in the 2006 World Cup bid. CW’s Tom Fox reports on this latest ethics investigation.
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Blog
SEC staff call out custom axis tag use in XBRL filings
The SEC is advising companies to take a careful look at their use of axis tags in their XBRL filings. The SEC has been studying corporate filings from 2013 to 2015 in the “XBRL format looking for problems that lead to data quality concerns, with axis tags being one such ...
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Blog
Marsh & McLennan names CCO of Risk and Insurance Services segment
Marsh & McLennan Companies, a global professional services firm, has named Robert Easton as chief compliance officer of the firm's Risk and Insurance Services segment. He reports to Jim McNasby, general counsel for MMC’s Risk and Insurance Services segment.
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National Retail Properties names chief accounting officer
National Retail Properties, a real estate investment trust, has named Michelle Miller as chief accounting officer.
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Mid-Con Energy names general counsel and corporate secretary
Mid-Con Energy Partners, a Delaware limited partnership formed in 2011 to own, operate, acquire, exploit and develop producing oil and natural gas properties in North America, has appointed Charles McLawhorn as general counsel and corporate secretary of Mid-Con Energy GP, the general partner of the partnership, effective April 1.
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Article
Loyalty shares v. one share – one vote: The Florange Act
France will experience a sea change in voting rights next month with the passage of the Florange Act. Adopted in 2014, the Act provides for the automatic granting of double-voting rights to stock held by shareholders for at least two years in a row. Rients Abma, executive director of Eumedion, ...
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ArticleSEC fines energy company $300K over rubber stamp internal controls
Image: A recent SEC action against a company for maintaining insufficient internal controls signals a new effort from federal authorities to hold companies to higher standards when it comes to internal control material weaknesses and significant deficiencies. “This is a case that doesn’t have a punchline,” says Tom Sporkin, a ...
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Article
Indian Supreme Court ruling expands FCPA coverage
Image: A landmark judgment issued by the Indian Supreme Court could have the broader effect of significantly expanding the compliance risk that companies face under numerous anti-bribery laws, including the U.S. Foreign Corrupt Practices Act. CW’s Jaclyn Jaeger examines this latest development that, according to FTI Consulting’s Anuj Bugga, “introduces ...
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Blog
SFO brings more charges in Alstom case
The U.K. Serious Fraud Office has brought further charges as part of its ongoing investigation of Alstom Network U.K., a U.K. subsidiary of French engineering company Alstom, this time against Alstom’s country president for the United Kingdom and managing director of Alstom Transport U.K. and Ireland. He is the seventh ...
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Article
A global glimpse at whistleblower protections in OECD countries
More OECD countries have put in place dedicated whistleblower protection laws in the past five years than in the previous quarter century, according to analysis by the Organization for Economic Cooperation and Development. But what’s a compliance officer to do when whistleblower protection laws in foreign countries directly contradict whistleblower ...
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Is Venezuela’s state oil company creating the next Petrobras scandal?
While Petrobras currently holds the title as the most corrupt national energy company in South America, Petroleos de Venezuela SA (PDVSA) is a strong contender as well, thanks to ongoing U.S. investigations into possible FCPA violations involving U.S. companies, Swiss banks, and corrupt PDVSA officials.
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Blog
The auditor as behavioral scientist
Image: Inside, CW columnist Jose Tabuena examines the power of data analytics and predictive models to assess compliance effectiveness and encourage employees toward acting responsibly, thereby ensuring an ethical workplace. But, Tabuena advises, keep in mind that predictive models only yield benefits if used appropriately.
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In defense of auditors
Companies do a lot of complaining about auditors, but it seems like the auditor is in a no-win situation. In an attempt to get auditor and client on the same page, CW’s Scott Taub covers a few of the most common complaints about auditors, along with a few thoughts on ...