All Compliance Week articles in Web Issue – Page 640
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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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Blog
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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Blog
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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Blog
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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Blog
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 ...
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Blog
Duff & Phelps enhances cyber-security practice
Duff & Phelps, a global valuation and corporate finance advisor, last week launched new cyber-security services that assist financial services companies in identifying and reducing cyber-security risk. This enhanced service offering enables the firm to manage cyber-security risk at every stage of preparedness
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Blog
Nasdaq acquires Boardvantage
Nasdaq this month entered into a definitive agreement to acquire Boardvantage, a board portal solution provider that also specializes in leadership collaboration and meeting productivity, for $200 million. The acquisition of Boardvantage, along with the recently closed purchase of Marketwired, is expected to strengthen Nasdaq's position as a global ...
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Blog
Oversight launches new Intelligent Case Assignment capability
Oversight Systems, an operational expense analysis company, has launched its new Intelligent Case Assignment capability, which helps ensure that line-of-business managers responsible for expense control and transaction monitoring efficiently address risk and financial anomalies. This solution guarantees team members’ time is invested in the highest priority anomalies.
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Article
As SEC targets EB-5 fraud, the visa program could raise money laundering risks
Image: A government program that grants visas to overseas investors is more popular than ever. The problem: Critics say it is rife with the potential for fraud and money laundering risks. “You can see which way the winds are blowing,” says Eric Berg, special counsel for Foley & Lardner. “The ...
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Blog
White details how SEC may utilize budget boost
Image: Defending a proposed $1.8 billion budget for the SEC before Congress, Chairman Mary Jo White provided a look at its future efforts. The proposed funding will allow the agency to hire an additional 250 staff in “critical, core areas,” White said. Goals include increasing examination coverage of investment advisers; ...
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Blog
Workwave names chief compliance officer
WorkWave, a provider of cloud-based software solutions for field service management and “last mile” fleet management, has appointed Perry Pappas as general counsel and chief compliance officer. As a member of WorkWave’s senior management team, Pappas will be responsible for all legal and compliance aspects of WorkWave’s rapidly expanding domestic ...