All Compliance Week articles in Web Issue – Page 666
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Blog
Monitoring Gifting Policies During the Holiday Season
The holiday season is always a good time to remind employees about gifts and hospitality rules. The general messages are clear: Follow the rules; use good judgment; seek help if you aren’t sure what to do; and never do something that doesn’t feel right. This week, columnist Jose Tabuena suggests ...
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U.S. and China to Expand AML Collaboration
The U.S. Treasury Department’s Financial Crimes Enforcement Network and the China Anti-Money Laundering Monitoring and Analysis Center last week signed a Memorandum of Understanding to create a framework to facilitate expanded U.S.- China cooperation between both nations’ financial intelligence units. According to the Treasury Department, the arrangement provides a mechanism ...
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Compliance Week Names Bill Coffin Editor-in-Chief
Image: Compliance Week has named Bill Coffin, an award-winning journalist with 22 years experience writing and editing, as its new editor-in-chief. “I am very excited to lead Compliance Week at such a pivotal time for this brand and the community it serves,” Coffin said. “I look forward to serving our ...
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The Watergate Hearings and the VW Internal Investigation
What did the President know and when did he know it? Former Senator Fred Thompson wrote those lines, when he was a staffer on the Senate Watergate Committee. His boss, Senator Howard Baker, then uttered them during the Watergate Hearings. Since that time, these two lines have been a mainstay ...
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The Fine and Elusive Art of Managing Change Effectively
Image: A large part of success for compliance programs at hinges on the chief compliance officer’s ability to shepherd change through the organization. But let’s be honest: managing change is not something many big businesses do well. Partly that is because companies today try to achieve too much change too ...
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Liberty Tax Appoints Chief Compliance Officer
Liberty Tax, a tax preparation company, has appointed James Wheaton to the newly created position of chief compliance officer.
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PCAOB Experiments With Random Inspections, Data Analysis
Image: The PCAOB has opened a project to study inspection results statistically and to consider whether the board should allocate some inspection resources to randomly selected audits. Chairman James Doty: “Could some randomization help us make better inferences about how pervasive audit deficiencies may be? Could some random selection increase ...
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SEC Considers Derivatives Rules for Registered Funds
The SEC has proposed rules that, once finalized, will modernize and enhance existing regulations placed on the use of derivatives by registered investment companies. The proposed rules would limit the use of derivatives by mutual funds, exchange-traded funds, closed-end funds, and business development companies. It also requires them to establish ...
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Calgon Carbon Appoints General Counsel and Secretary
Calgon Carbon has hired Chad Whalen as general counsel and secretary, effective as of Dec. 1. Whalen comes to Calgon Carbon from RTI International Metals, a global supplier of advanced titanium and specialty metals products and services, acquired by Alcoa earlier this year. There, he held the position of general ...
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Cordium Launches New Cyber-Security Training Video
Cordium, a global provider of compliance consulting, accounting, tax and software to the financial services industry, has launched a cyber-security training video to help firms protect against breaches.
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SEC Makes Second Attempt at Extractive Payments Rule
The SEC re-proposed its extractive payments rule on Friday. The controversial rule, already vacated once by an industry lawsuit, requires public companies to report annually payments they, subsidiaries, and entities they control make to governments for the commercial development of oil, natural gas, or minerals. Initial comments on the proposed ...
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Analogic Faces $15 Million FCPA Settlement
Analogic, an airport security and medical-imaging technology provider, said this week in a quarterly filing that the Securities and Exchange Commission and the Department of Justice have made separate settlement proposals to resolve a Foreign Corrupt Practices Act case totaling payments of approximately $15 million.
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CFTC Brings First Insider-Trading Case
Until last week, the CFTC had never brought an insider-trading case for commodities trading. Indeed, the only example of insider commodities trading that most lawyers (or anyone else) could probably point to would be the ill-fated effort of the Duke brothers in the Eddie Murphy movie Trading Places. Four years ...
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SEC Offers First Batch of FAST Act Guidance
The Securities and Exchange Commission’s Division of Corporation Finance has weighed in on the passage of the Fixing America's Surface Transportation (FAST) Act last week with new Compliance and Disclosure Interpretations related to provisions that affect federal securities laws.They address legislative efforts to reduce disclosure burdens on emerging growth companies.
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National Society of Compliance Professionals Elects New Chair
The National Society of Compliance Professionals (NSCP), a non-profit, membership organization dedicated to serving and supporting compliance professionals in the financial services industry, has elected Lynn McGrade as chair for the upcoming year.
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TransferTo Names Chief Compliance Officer
TransferTo, a global mobile money hub, has appointed Paul de Ruiter as chief compliance officer. In this role, he will lead TransferTo’s global compliance function.
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Evolution Petroleum Names Chief Accounting Officer
Evolution Petroleum, in independent petroleum company, has appointed Rod Schultz as chief accounting officer. He will also continue to serve in his current role as director of SEC reporting and taxation.
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AIG Names Chief Risk Officer; Forms Executive Leadership Team
American International Group, a global insurance company, this week announced the formation of a new Executive Leadership Team, designed to execute AIG’s strategic priorities. In addition, the company has named Alessa Quane as chief risk officer, in addition to her role as chief corporate actuary.