All Compliance Week articles in Web Issue – Page 640
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Article
Boards are in the hot seat over dividends, stock buybacks
With the increased use and value of buybacks and dividends showing no sign of slowing—and with a distinct lack of regulatory involvement to consider—boards find themselves with the unenviable task of finding a Solomonic middle ground between opposing viewpoints on long-term and short-term strategy. Layered in, says reporter Joe Mont, ...
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BlogFASB plans new discussion on credit impairment effective date, guidance
Image: FASB is reconsidering the planned effective date for the final standard on credit impaiment and is promising clarifications after concerns were raised by community bankers and credit unions over whether the requirements would lead to difficult and costly accounting processes and procedures. FASB Chairman Russ Golden said the board ...
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Resource
e-Book: Playing the game of third-party risk
Third-party risk has always been a pain point for compliance officers, but external factors like globalization and escalating cyber-risks are continuously changing the way compliance officers have to think about how to manage third-party risk. In this e-Book, produced by Compliance Week in cooperation with RSA, we try to cut ...
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Blog
VimpelCom discloses more details on FCPA damages
Amsterdam-based VimpelCom, a global telecommunication services provider, said last week in its annual report with the Securities and Exchange Commission that it has set aside $105 million for legal expenses associated with its $795 million settlement reached last month with U.S. and Dutch prosecutors for paying bribes to a government ...
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Resource
The OCEG GRC Illustrated Series: GRC for Conflict of Interest Management
FACT: Employee conflicts of interest (COIs) are observed often, but reported rarely. COIs are the third most commonly observed type of misconduct, according to the 2013 National Business Ethics Survey (NBES), but only 49 percent of workers who observe COI misconduct are reporting what they see.FACT: Companies aren’t effectively managing ...
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Blog
Hertz Global names acting general legal counsel
Hertz Global Holdings has named Rick Frecker as acting general legal counsel, following the resignation of Thomas Sabatino, who is joining Aetna as executive vice president and general counsel, law and regulatory. Frecker, who has been with Hertz since 2008, has served as vice president and deputy general counsel for ...
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Blog
New York Attorney General Antitrust Bureau chief to join Gibson Dunn
Eric Stock, chief of the Antitrust Bureau at the New York Attorney General’s Office, will join law firm Gibson, Dunn & Crutcher as a partner in New York, where he will focus on antitrust litigation and investigations, as well as merger review, effective June 1.
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Blog
Tokio Millennium names chief risk officer
Switzerland-based Tokio Millennium, a reinsurance company, has appointed Andreas Kull as chief risk officer and as a member of its executive committee. He will succeed Akira Higuma, who will return as the group leader of global risk management, a unit within the international business development department of Tokio Marine Holdings.
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Blog
How SEC legend Judge Stanley Sporkin hired future luminaries
Image: Title: SporkinIn the past two weeks there have been two interesting articles written about SEC enforcement legend Judge Stanley Sporkin, the SEC’s second director of enforcement (and much more). Inside, enforcement blogger Bruce Carton looks at the takes on “Sporkin’s kids”—his SEC protégés who went on to become luminaries ...
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Article
Harmonizing corporate disclosure on climate change by making the most of your CDP response
Linking corporate sustainability and good business results is a big part of driving companies to adopt more environmentally responsible outlooks and operational strategies. But there is more than one way to determine that link, and harmonizing the results between various methodologies is key for creating the best kind of sustainability ...
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Blog
Announcing the launch of TalentWave
The strategic merger of ICon Professional Services and Synergy Services now has a new name and a new identity: TalentWave. The union of ICon Professional Services and Synergy Services in October 2015 brings together two strong leadership teams, as well as the people, processes, and technology to address the increasingly ...
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Blog
ISACA provides guide to planning an information system audit
Internal auditors looking to get more involved in information systems audits can turn to a new white paper titled Information Systems Auditing Tools and Techniques: Creating Audit Programs, from ISACA, a global global association of professionals focused on IS audit and control. The paper outlines five steps auditors should take ...
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Blog
SEC claims Navistar, former CEO misled investors about truck engine
Yesterday, the SEC filed an administrative proceeding against Navistar International Corp. alleging that Navistar misled investors when it "failed to fully disclose the company’s difficulties obtaining Environmental Protection Agency (EPA) certification" of a particular truck engine. Navistar agreed to settle the SEC's AP by paying a $7.5 million penalty and ...
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Blog
Brazilian corruption investigation goes supernova
As billionaire construction magnate Marcelo Odebrecht prepares to turn state’s evidence in the corruption investigation that covers Petrobras, Odebrecht SA, and the Brazilian presidency itself, it seems that we might finally get some insight on just how pervasive Brazil’s so-called “cartel of corruption” really was. Is anybody ready to ...
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Blog
FASB simplifies share-based payment accounting
Image: FASB has issued new guidance to smooth over several rough spots in the requirements around stock compensation, such as how to account for the tax consequences of share-based payments, classification of the awards as either equity or liability, and classification on the statement of cash flow. Chairman Russ Golden ...
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Blog
CFTC Commissioner: Regulators should ‘do no harm’ to blockchain
As regulators address the use of blockchain technology by financial institutions, three words should guide their efforts: “do no harm.” That was the message from the Commodity Futures Trading Commission’s J. Christopher Giancarlo during a speech at the 2016 Blockchain Symposium. Regulators should foster, not impede, developments, he said.
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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 ...