All Compliance Week articles in Web Issue – Page 651
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Blog
When are campaign contributions FCPA violations?
A recent article in the Financial Times by Simon Kuper, titled “How to buy a foreign election” reminded me that the FCPA specifically makes illegal more than simply bribing a foreign government official or some employed by a state owned enterprise to secure an improper advantage. The FCPA also makes ...
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ArticleMitigating third-party risks
Most companies by now understand the escalating risks that third parties pose to their business and are ramping up their third-party risk management efforts accordingly. Even still, many struggle with how to achieve full transparency into the breadth and depth of their third parties, exposing themselves to significant legal and ...
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Article
U.K. ruling expands scope of anti-corruption enforcement
Image: In a first-of-its-kind ruling, the Criminal Division of the U.K. Court of Appeal ruled that bribery of foreign officials was, indeed, illegal prior to 2002, marking a notable victory for the Serious Fraud Office in its escalating battle against bribery and corruption. ““Anybody thinking that prosecution under these pre-Bribery ...
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Blog
Blind moviegoers file suit for being left in the dark
It’s the kind of legal case that causes groans across social media these days: a group of blind moviegoers sue AMC theatres for discrimination because it failed to accommodate the moviegoers’ special needs. On the surface, the lawsuit might seem ridiculous, but when you take a closer look, there is ...
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Blog
Scripps Networks Interactive appoints chief ethics and compliance officer
Media Company Scripps Networks Interactive has named David Arroyo to the newly established position of chief ethics and compliance officer. In this role, Arroyo will guide the company’s adherence to all applicable laws and regulations worldwide, including oversight of the company’s Code of Ethics, policies and reporting tools.
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Blog
Aeterna Zentaris appoints chief accounting officer
Aeterna Zentaris, a specialty biopharmaceutical company, has appointed Geneviève Lemaire, currently interim corporate controller, to serve as the company's vice president of finance and chief accounting officer. She assumes these roles from Keith Santorelli, who has left the company to pursue other opportunities.
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Blog
White, Stein address ETF oversight, universal proxy access
Each year, anyone who is anyone at the SEC, reflects upon the year that was—and the year ahead—at the Practising Law Institute’s SEC Speaks conference. At the event, held over the weekend in Washington D.C., SEC Chair Mary Jo White placed addressing the “increasingly complex portfolios and operations” of mutual ...
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Blog
Justice Department concludes $795M FCPA action against VimpelCom
Image: Dutch telecom giant Vimpelcom will be hit with nearly $800M in fines, penalties, and disgorgement of profits and prejudgment interest from its huge FCPA case where it spent millions to bribe its way into the Uzbekistan marketplace. Tom Fox looks at the details of the Justice Department’s FPCA enforcement ...
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Article
Volkswagen: A lesson in implicit versus explicit rules and regulations
As uncertainty swirls around what Volkswagen executives knew or did not know about the company’s emissions cheating, this much seems certain: To achieve accountability going forward, Volkswagen executives must commit to creating a corporate culture in which employees and executives follow the same codes of conduct. Inside, guest columnist JTI ...
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Event
Innovations in Measuring Performance, Attribution, and Risk
New YorkNew York, NY 11111United States
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Blog
Corruption can give you a very bad few days
Title: Corruption can give you a very You know it is going to be a bad day when you see your company’s name splashed across a BBC investigative report into alleged payment of bribes to secure business contracts. However, your day can get considerably worse when US congressmen, call ...
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Podcast
Podcast: how boards can improve risk response
In the latest edition of the Compliance Week podcast, we chat with Steven Kreit, partner with accounting firm EisnerAmper, about the firm's recent "Concerns About Risks Confronting Corporate Boards" survey. The findings of directors are worried about haven't changed much since last year, with reputation risk and cyber-security perennial causes ...
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Blog
Podcast: how boards can improve risk response
In the latest CW podcast, we chat with Steven Kreit, partner with accounting firm EisnerAmper, about the firm’s recent “Concerns About Risks Confronting Corporate Boards” survey. Director worries haven’t changed much since last year, with reputation risk and cyber-security perennial causes of angst, according to the survey. However, there does ...
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Blog
Apple, the FBI and a terrorist’s iPhone
As the FBI continues its investigation into the deadly San Bernadino terror attack from last December, it has run into an unlikely adversary in Apple, which has refused the Bureau’s requests to defeat the security measures of one of the terrorists’ iPhones. While the legal struggle over this raises the ...
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Blog
FASB, SEC offer new insights on XBRL
The Financial Accounting Standards Board has made some changes to the Development Taxonomy for any early adopters of FASB’s new standard on the recognition and measurement of financial instruments, adding elements that companies can use in submitting their financial statements in XBRL. The newest guide is the latest in a ...
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BlogVimpelCom to pay $795 million for FCPA violations
Amsterdam-based VimpelCom, a global telecommunication services provider, and its wholly owned Uzbek subsidiary, Unitel, yesterday reached a combined $795 million settlement with the U.S. and Dutch prosecutors for paying bribes to a government official in Uzbekistan, making it one of the largest global foreign bribery resolutions ever. VimpelCom will pay ...
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Blog
Big banks could face new recordkeeping requirements
The Federal Deposit Insurance Corporation has proposed new recordkeeping requirements for federally-insured institutions with more than 2 million customer accounts. The move is intended to facilitate rapid payment of deposits to customers if the institutions were to fail. Banks would be required to ensure that their information technology systems are ...