All Compliance Week articles in Web Issue – Page 655
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Blog
Financial Conduct Authority Names New Chief Executive
Image: HM Treasury this week announced the appointment of Andrew Bailey as the new permanent chief executive of the U.K. Financial Conduct Authority for a five-year term. He is expected to take up the role in July 2016. Bailey is currently the deputy governor for Prudential Regulation at the Bank ...
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Blog
FASB Proposes Changes to Pension Accounting, Disclosures
For companies that still carry defined benefit pension plans, FASB is proposing an update to accounting standards to require companies to separate the service cost from other components of the net benefit cost for purposes of presenting it in financial statements. The proposal outlines specific guidance on how to break ...
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Blog
SEC Extends Comment Period for Extractive Payments Rule
The Securities and Exchange Commission has extended its public comment period for its second attempt at a rule requiring the disclosure of payments made to governments by energy and mining companies for extraction rights. The new deadlines are Feb. 16 for the first round of commentary and March 8 for ...
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Blog
Pale, Male, and Stale
The call for greater boardroom diversity is not merely a matter of political correctness; it’s a matter of modern business planning, and most of all, a matter of regulatory compliance. And yet, despite the strides being made here, there is still much more ground to cover, and progress seems to ...
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ArticleThink the FTC Isn’t Monitoring Big Data? Think Again
Companies that use Big Data analytics will want to carefully review a new report issued this month by the Federal Trade Commission, which warns companies about the sort of ethical, legal, and compliance risks they could encounter when using data analytics practices that fly in the face of consumer protection ...
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Blog
FTI Technology Launches Analytics Software Platform
FTI Consulting, a global business advisory firm, today announced the launch of Radiane, a new visual analytics software platform that enables organizations to dynamically investigate and understand their enterprise data. Developed by FTI Consulting’s Technology segment, Radiance is now available either as a cloud-based service or as a rapid deployment ...
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Blog
Hains Celestial Chief Accounting Officer Joins Multi Packaging Solutions
Multi Packaging Solutions, a print and packaging solutions provider, has appointed Ross Weiner as vice president of finance and chief accounting officer, effective Feb. 15. As Compliance Week previously reported, Weiner joins Multi Packaging Solutions from the Hain Celestial Group, where he was serving in a similar role.
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Blog
Missing Links in Regulators’ View of Compliance Programs
We recently heard from Assistant Attorney General Leslie Caldwell about what she and her staff considers what is—or is not—an effective compliance program. Most notably, she noted that many companies have what appear to be good structures on paper but fail in practice to devote adequate resources and management attention—with ...
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Article
SEC Committee Ups Ante in Fight Against FASB Materiality Changes
Members of the SEC’s Investor Advisory Committee are ramping up their fight with FASB over proposals that redefine its approach to materiality in financial statements. The plan is “fraught with the risk that disclosures that are unfavorable to the issuer are disproportionately viewed as immaterial and as a result excluded ...
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Article
New DoL Guidance Has Chilling Effect on Third-Party Relationships
Does your company use sub-contractors or have franchisees? Ever put a vendor compliance program in place? If so, new guidance from the Department of Labor is about to make life more complicated. It broadens how joint employer relationships—where two or more companies cooperatively employ workers—will be defined and applied under ...
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Blog
Level Global Case Continues to Rewind
Watching developments in the Level Global insider trading case -- which fell apart after the Second Circuit's landmark decision in Newman resulted in the conviction of its co-founder and another defendant being overturned -- feels like watching a movie rewind.
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Blog
What Does Good Compliance Look Like? Internal Audit Can Help
Board audit committees and compliance professionals should review new compliance guidance provided in a recent speech by assistant attorney general Leslie Caldwell, chief of the U.S. Department of Justice’s Criminal Division. Along with the DoJ’s appointment of a “compliance counsel” this guidance presented so-called “metrics” to apply when evaluating programs ...
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Article
Companies Prep for FASB’s New Take on Leases
Still knee-deep in preparing for the massive new revenue recognition standard, public companies have plenty of reason to start revving up now for another major accounting change on the horizon—the new leasing standard. “As soon as possible—even prior to the issuance of the new leases standard—preparers should consider creating a ...
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Article
Preparing for the EU’s new Data Protection Rule
Sweeping changes to the EU’s data protection laws means new compliance headaches for any U.S. company that collects and handles data on citizens of the European Union. “It’s a game changer, primarily because it sets standards that many companies haven’t had to worry about,” said Hilary Wandall, associate vice president ...
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Blog
Board of Directors and Line of Sight Into Compliance Trends
Image: A board of directors must set the appropriate tone at the top for any organization. Yet it must do more than simply set the tone, sit back, and do nothing. A board needs to take a hard look at the information it is being presented and tell management to ...
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Blog
FinCEN Takes Aim at Real Estate Industry
Compliance officers, beware: the Financial Crimes Enforcement Network’s increasingly aggressive push to combat money laundering has entered a new phase, and this time it has its sights on high-end real estate transactions. “We are seeking to understand the risk that corrupt foreign officials, or transnational criminals, may be using premium ...
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Blog
Hain Celestial Chief Accounting Officer Resigns
Food company Hain Celestial Group disclosed this month in a filing with the Securities and Exchange Commission that Ross Weiner, vice president of finance and chief accounting officer, has resigned to pursue another opportunity. His resignation is effective Feb. 9.
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Blog
Resilience Capital Partners Names General Counsel
Resilience Capital Partners, a private equity firm, has appointed Chad Hesse to its newly created general counsel role. For the past 11 years, Hesse has worked for Diebold, a publicly traded global manufacturer, sales and service provider of self-service technology, software and security solutions. During his time there, he held ...