All Compliance Week articles in Web Issue – Page 653
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Article
The new VIE evaluation process is here, but what does it really change?
Image: With yet another change in the guidance on when a company needs to consolidate a particular entity onto its balance sheet, all public companies need to walk through a new evaluation process in the first quarter, even if it doesn’t change the outcome. “It is a thicket,” says Adam ...
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Article
Data collection could be key to battling trade-based money laundering
Trade-based money laundering is a common technique for funding terrorist activities through seemingly innocuous trade activity that essentially hides criminal transactions in plain sight. And it will take the combined efforts of U.S. Customs, FinCEN, the Department of Commerce, and port authorities (and their counterparts in other countries) to compile ...
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Article
Fiduciary duty rules poised to redefine an industry
It sounds reasonable enough: hold broker-dealers and investment advisers to a fiduciary standard when they offer investment advice, specifically with retirement plans. Firms, however, fear that pending rules, split between the Securities and Exchange Commission and Department of Labor, are not in sync and unintended consequences will radically alter traditional ...
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Blog
SEC Petitioned for Gender-Based Pay Ratio Disclosures
An investment adviser to the Pax Ellevate Global Women’s Index Fund has filed a rulemaking petition with the SEC, seeking a requirement that companies disclose gender-based pay ratios on an annual basis. “We believe that pay equity is a useful and material indicator of well managed, well-governed companies, and conversely, ...
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Blog
LockPath Expands Keylight GRC Platform’s Multilingual Capability
LockPath, a provider of governance, risk management and compliance (GRC) solutions, is providing additional functionality for its multinational enterprise customers with Version 4.3 of its Keylight GRC platform, through a multilingual user interface and increased flexibility and performance.
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Blog
Recommind Integrates Microsoft Office 365 Into Axcelerate
Recommind, an advanced analytics provider, announced that it has integrated Microsoft Office 365 into the newest version of Axcelerate, its cloud-based e-Discovery platform. The collaboration streamlines discovery by enabling joint customers to easily and effectively cull data in the Office 365 environment before exporting it into Axcelerate for total visibility ...
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Blog
FASB Takes Heat on Impairment Proposal
Image: FASB is facing some fresh political pressure from Congress, this time to answer the outcry of smaller financial institutions objecting to the planned change to financial instrument impairment rules. According to FASB Chairman Russ Golden, a recent open meeting on the topic of impairment produced “insightful discussion that resulted ...
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Blog
SafeBreach Arms Defenders With the Hacker's Playbook
SafeBreach, a breach validation firm, last month officially announced the company and the general availability of its platform. Founded by former LivePerson CSO Guy Bejerano and renowned security researcher Itzik Kotler, SafeBreach enables any size organization to precisely and continuously quantify the risk of breaches from specific attack scenarios, harden ...
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Blog
Allianz Life Names Chief Compliance Officer
Allianz Life Insurance Company of North America and Allianz Life Insurance Company recently hired Steve Koslow as chief compliance officer to oversee the compliance management system for insurance, broker/dealer and investment advisor regulated business, as well as compliance with legal and regulatory requirements.
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Blog
Ethics, Compliance, and GRC: A Foot on Both Banks
Ethics & compliance is one thing, and governance, risk & compliance is another, and yet, both seem to overlap significantly. When considering how often compliance issues begin as ethics issues, Editor Bill Coffin wonders what can be done to ensure a more seamless integration of ethics into compliance, governance, and ...
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Blog
Volkswagen Group of America Names New General Counsel
Amid its emissions scandal, Volkswagen Group of America has appointed David Detweiler to serve as general counsel, effective as of Feb. 1. Detweiler joins Volkswagen Group of America from the international law firm Clifford Chance in Frankfurt, Germany. He assumes his new role from David Geanacopoulos, who has served for ...
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Blog
Achillion Pharmaceuticals Names General Counsel and SVP of Regulatory Affairs
Achillion Pharmaceuticals has announced the addition of two members to the senior management team, including the appointment of a new general counsel and secretary, and a new senior vice president of regulatory affairs.
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Blog
TOMI Appoints Three New Independent Board Members
TOMI Environmental Solutions, a global bacteria decontamination and infection prevention company, has appointed three new independent directors to its board, bringing its total to five members.
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Blog
CFTC Still Waiting for Its Whistleblower Program to Bear Significant Results
After four years, the CFTC has so far paid out just two whistleblower awards totaling $530,000 while incurring millions of dollars in expenses. The agency’s inspector general stated recently that it has opened a review to “to determine the reason, if any, for the limited number of CFTC whistleblower awards ...
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Blog
'You Get a Refund! You Get a Refund! You Get a Refund...!'
The SEC might be feeling like a little like Oprah lately, handing out refunds the way Oprah hands out cars. "You get a refund! You get a refund! YOU get a refund!"
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BlogSciClone to Pay SEC $12.8 Million in FCPA Case
SciClone Pharmaceuticals announced that it has entered into a $12.8 million settlement with the Securities and Exchange Commission to resolve an investigation of potential violations of the Foreign Corrupt Practices Act with respect to its China operations. SciClone further said that the Department of Justice has also completed its related ...
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Blog
BlackRock CEO Urges Rethinking of Quarterly Earnings
Image: In recent months an increasing number of investor advocates have expressed concerns that companies worry more about short-term quarterly earnings and estimates, not enough about long-term, sustainable growth. In a Feb. 1 letter to nearly 500 companies, Laurence Fink, co-founder and CEO of BlackRock offered his take, urging “resistance ...