All Compliance Week articles in Web Issue – Page 657
-
Article
AML Regulations in NY Force CCOs to Rethink Everything
Earlier this month New York officials proposed new anti-money laundering regulations for financial institutions that fall under that state’s regulatory regime and supervision—which pretty much includes every major international bank in the world. Along with heightened demands for monitoring programs that detect money laundering red flags, the requirements seek to ...
-
Article
SEC’s Concerns Prod a Rethinking of Outsourced Compliance
Image: Faced with budget constraints, firms frequently turn to external professionals to supplement compliance programs—but the SEC has provided a laundry list of problems with that approach. “The SEC has not banned outsourced compliance in any way or said it is presumptively disfavored, but reading between the lines you get ...
-
Article
The Popularity, and Peril, of Structured Payable Programs
Image: Structured payable programs have become increasingly popular in recent years as companies and their lenders search for new ways to access working capital. But according to Robert Rostan, CFO and principal at education firm Training The Street, such arrangements could turn short-term accounts payable into longer-term debt that requires ...
-
Blog
FIFA Internal Investigation: Between Scylla and Charybdis
Image: In theory, U.S. and Swiss authorities are working in tandem to investigate allegations of misconduct by the leaders of the FIFA professional soccer organization. In practice … relations are a bit more complicated, and that leaves the law firm handling FIFA’s internal probe in a difficult spot. CW anti-corruption ...
-
Blog
OGE Energy Appoints New Board Member
OGE Energy has appointed Frank Bozich to the company's board of directors and as member of its audit committee, effective with its first regular meeting in 2016. Bozich's term will expire at the company's annual shareholders' meeting scheduled for May 19, 2016, at which time he will stand for re-election ...
-
Blog
Conflicts of Interest in Track & Field: Perception or Reality?
Image: FIFA and NFL football are not the only sports mired in ethical controversy any more; now track and field has entered the race. The latest scandals include allegations of rampant doping among Russian athletes, and a clear conflict of interest from the new director of the sport’s oversight body. ...
-
Blog
SEC Takes Another Crack at Extractive Payments Rule
After years of delays and lawsuits, the Securities and Exchange Commission will meet on Friday morning to debate whether it is ready to propose a new rule that requires publically traded oil, gas, and mining companies to disclose payments made to governments for extraction rights. The Dodd-Frank Act mandate led ...
-
Blog
First British DPA Provides Much to Ponder
It has finally come to pass: the first deferred-prosecution agreement under the U.K. Bribery Act. From the role of judicial oversight (greater than that in the United States) to the final statement of facts (much greater than that in the United States), the settlement with ICBC Standard Bank is full ...
-
Blog
What Makes a Good ‘Pen Tester’
Penetration testing is the exercise of testing a company’s cyber-security defenses, and finding the right “pen tester” to do that can be difficult. Learn how to find the right blend of capable, trustworthy, and innovative cyber-security professionals. More inside.
-
Blog
Cordium Launches Social Media Review Service
Cordium, a global provider of compliance consulting and software solutions to the financial services industry, has announced the launch of a new social media review service. Cordium’s compliance consulting team has historically offered social media reviews to its clients as part of its broader compliance consulting program, but this is ...
-
Blog
FASB Tests Materiality Ideas With Fair-Value Disclosure Proposal
As part of its effort to improve disclosure requirements, FASB is proposing new disclosure provisions around fair-value measurements to make fair-value disclosures more meaningful to investors. The proposal says entities would provide required disclosures if they are material, and would remove phrases such as “an entity shall disclose at a ...
-
Blog
IT Audit Executives Struggle With Pace of Change, Survey Shows
Image: Rapid innovation, disruption, and growth in cyber-security risks are the biggest technology challenges for IT auditors, a survey from ISACA and Protiviti says. Managing Director David Brand says, “IT audit professionals have recognized the need to grow their knowledge and expertise while also updating their policies, processes, people, and ...
-
Blog
Grand Opening: Photo Wing of the Enforcement Action Art Gallery!
In September 2015, I was motivated by an awesome drawing of the five SEC commissioners reimagined as WWE wrestlers to launch the Enforcement Action Art Gallery. It occurs to me, however, that there are many photographs that need to be preserved, as well. Welcome to the new Photo Wing!
-
Blog
Hitachi Settles Case With African Development Bank
The African Development Bank Group (AfDB) announced this week that it reached a settlement agreement with Japan-based Hitachi. The African Development Bank (AfDB) Integrity and Anti-Corruption Department alleged that Germany-based Hitachi Power Europe, and its South African subsidiary, Hitachi Power Africa, engaged in sanctionable practices in exchange for a boiler ...
-
Blog
SFO: Sweett Group Admits to Bribery
The U.K. Serious Fraud Office this week confirmed that Sweett Group, a British property management, construction and surveying company, admitted to violating the Bribery Act, regarding conduct in the Middle East. The resolution would mark the SFO’s first conviction since enactment of the Bribery Act in 2011. More inside.