All Compliance Week articles in Web Issue – Page 651
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Blog
Standard Chartered Names Group Chief Risk Officer
Standard Chartered Bank has appointed Mark Smith as its new group chief risk officer, based in London. Pam Walkden will continue as interim group chief risk officer until Smith joins the bank in January 2016. Details inside.
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Blog
Prudential Names Chief Risk Officer
Prudential has appointed Penny James as group chief risk officer and as an executive director on the Prudential board, effective Sept. 1. She succeeds John Foley, who had taken on the additional role of group chief risk officer in June on an interim basis, following the departure of Pierre-Olivier Bouée. ...
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Blog
VNA Homecare Appoints Corporate Compliance Officer
VNA Homecare has appointed Dawn Richey as corporate compliance officer. She previously served as manager of Emergency Preparedness at Crouse Hospital. Details inside.
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Blog
Piwowar Jabs Again at Pay Ratio Rule
Image: SEC Commissioner Michael Piwowar has taken the rare step of publishing a second statement opposing the newly adopted pay ratio disclosure rule (not to be confused with his first statement of outrage last week). The length and tone of the statement add fuel to the theory that his criticisms ...
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Blog
New OCC Task Force on Banking Innovation
Image: The Office of the Comptroller of the Currency is pulling together a team to consider the regulatory implications of advances in banking technology. “We’re still early in the process, so I can’t tell you exactly where we’ll end up,” OCC director Tom Curry said. He did float the idea ...
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Blog
Beware the 'SEC Impersonator' Scams Targeting Your Money
You might not think that fraudsters impersonating the SEC would be a significant or ongoing problem but the volume of the SEC's "Investor Alerts" on this topic would seem to suggest otherwise.
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Blog
SEC Alleges Accounting Fraud at Miller Energy Resources
The Securities and Exchange Commission is alleging that the former chief financial officer and current chief operating officer of Miller Energy Resources, an oil and natural gas production company, inflated values of oil and gas properties, resulting in fraudulent financial reports for the Tennessee-based company. The audit team leader ...
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Podcast
Podcast: Why Do So Many Companies Struggle with PCI Compliance?
The Verizon 2015 PCI Report from earlier this year found that one of the most prevalent causes of compliance breakdowns with the Payment Card Industry Data Security Standard, and a cause of breach incidents is difficulty with network firewall policy management. In our latest podcast, we talk to Jody Brazil, ...
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Blog
Deadline Nears to Weigh in on New Operating Activities Presentation
Image: FASB has issued three sets of frequently asked questions about its proposal to alter the presentation of financial statements for not-for-profits. The proposal would “dramatically change” several areas of reporting, especially around operating activities, says Beth Paul, a partner with PwC. “Given FASB has similar projects on the agenda ...
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Blog
The End: Prosecutors Wrap Up Case Against Final Madoff Defendant
Yesterday, over six years after the criminal case began in the Bernard Madoff Ponzi scheme case, the Madoff firm's long-time controller, Irwin Lipkin, was sentenced to six months in prison. Lipkin is the 15th -- and final -- defendant to be prosecuted in the Madoff case.
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Blog
AICPA Moves Closer to Audit Data Standards
Image: The AICPA has finalized two audit data standards for sub-ledgers, focused on order to cash and procure to pay. Companies that voluntarily adopt such standards, which provide a framework covering data fields and files commonly requested by auditors, could find the work to fulfill auditors’ file requests trimmed from ...
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Blog
SEC Sets Swap Dealer Registrations, 'Bad Actor' Waiver Battle Looms
The easy part: adopting new rules and a process for the registration of security-based swap dealers and major security-based swap participants. More controversial, is a new proposal, announced by the Securities and Exchange Commission on Wednesday, to give swap dealers the ability to do business with individuals and firms convicted ...
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Blog
IFAM Capital Names John Lauer CCO, COO
IFAM Capital, a wealth management firm, has announced the appointment of John Lauer has been as its new chief operating officer and chief compliance officer.
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Blog
Bartlett Named Managing Partner for EY’s Honolulu Office
Jeff Bartlett has been named the managing partner for EY’s Honolulu office. Bartlett will be responsible for continuing to grow the practice, managing resources and overseeing client service in the Hawaii market.
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Blog
ACADIA Pharmaceuticals Names New CCO
ACADIA Pharmaceuticals, a biopharmaceutical company based in San Diego, has named Ryan Brown as a vice president and chief compliance officer. Brown will be responsible for developing, implementing, and managing the company’s corporate compliance program to support the planned commercialization of a treatment for psychosis associated with Parkinson’s disease.
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Blog
SEC Adopts Divisive Pay Ratio Rule
The Securities and Exchange Commission’s pay ratio rule is now final, approved by a 3-2 vote on Wednesday. The rule requires a comparison of CEO pay to the compensation of the median employee. Concessions to corporate concerns include the ability to exclude up to 5 percent of non-U.S. employees when ...
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Blog
SEC Confirms Expansive View on Whistleblower Protections
The SEC has published fresh guidance on who qualifies for whistleblower protections under the Dodd-Frank Act, essentially confirming the view that a person is not required to report misconduct to the SEC’s Office of the Whistleblower to qualify for the expanded anti-retaliation protections under the law. Compliance officers should welcome ...
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Resource
Insider Threat Spotlight Report
Get comprehensive survey findings from more than 500 cyber-security professionals, all offering unique insights into the state of insider threats today, as well as the best solutions to keep your network protected. Find out how your peers can help you:Understand the five growing trends for insider threatsChoose the right security ...
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Blog
Report: U.K. Regulator’s Victory in the Libor Scandal
Image: Tom Hayes, once a “star trader” at UBS and Citigroup and the first to stand trial in the Libor scandal, has been charged with eight counts of conspiracy to manipulate Libor and will serve 14 years in prison. This case serves as a major turning point for the U.K. ...
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Blog
Outgoing SEC Commissioner Gallagher Takes One Last Shot at Dodd-Frank
In what was likely his last formal speech as an SEC commissioner, Commissioner Dan Gallagher invoked into his inner Stuart Smalley to take aim one last time at his favorite target, the Dodd-Frank Act.