All Compliance Week articles in Web Issue – Page 686
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Blog
Uncomfortable Lessons to Draw From Germanwings 9525
Image: The crash of Germanwings Flight 9525 demonstrates the most difficult choices in risk management that businesses, policymakers, and society ever have to make: how we handle people like Andreas Lubitz, the troubled co-pilot who deliberately crashed the plane—how we identify and handle persons who might potentially cause enormous damage ...
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Blog
eBay to Add Two Independent Directors
eBay this week announced the appointment of two new independent directors in anticipation of completing its previously announced separation of eBay and PayPal. Tony Bates, President of GoPro, and Gail McGovern, president and CEO of the American Red Cross, have been appointed to eBay's board of directors. Details inside.
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Blog
Sandoz to Pay $12.6 Million for Misrepresenting Drug Pricing Data
Drug maker Sandoz last week reached a $12.64 million settlement with the Department of Health and Human Services Office of Inspector General to resolve allegations that it misrepresented drug pricing data to the Medicare program. The Sandoz settlement is the largest ever entered into under OIG’s drug price reporting civil ...
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Blog
Citigroup: Law Firms at High Risk of Cyber-Attacks
In a recent internal report, Citigroup's cyberintelligence center warned employees that law firms are targets of attacks by foreign governments and hackers because they house valuable data concerning their clients' transactions and strategies.According to the NY Times, the Citigroup report alerted employees that cybersecurity at law firms remains weak as ...
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Blog
Socialware Launches Social Brand Protection Solution
Socialware, a provider of social media risk management solutions for the enterprise, announced the availability of new brand protection and monitoring capabilities. Socialware’s Social Brand Protection solution allows firms to automatically discover, inventory, monitor and patrol its social media and web points-of-presence, providing marketers, risk management teams and legal counsel ...
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Blog
Sherpa Software Launches Altitude e-Discovery Module
Sherpa Software, a provider of information governance solutions, this week announced that they have added an easy-to-use e-discovery module to its Altitude IG solution. The new module is built specifically for in-house teams to help manage legal hold notification, search and collection for legal discovery requests, compliance requirements or internal ...
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Blog
ACE Names General Counsel for Eurasia; Africa
ACE Group has appointed Susan McDonald, currently legal and compliance manager for MENA, to the role of regional general counsel for Eurasia and Africa, as it continues to build its management team in its newest business region, effective April 1.
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Aker Solutions Names Head of Risk Management
Aker Solutions, a global provider of products, systems and services to the oil and gas industry, has appointed Tore Sjursen as executive vice president for operational improvement and risk management, effective April 1.
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Blog
Spirit Realty Capital Appoints Chief Accounting Officer
Spirit Realty Capital has appointed Michael Bender to the newly formed position of chief accounting officer, effective April 20. Bender currently serves as chief financial officer of the real estate investment trust company.
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Blog
FASB Mulls Deferral on New Revenue Rule
Image: FASB will review research behind a possible delay in the new revenue recognition standard. The board might also consider allowing early adoption, currently prohibited under FASB’s standard. SEC Chief Accountant James Schnurrif said, “If the parties determine there are implementation issues that require additional standard setting, I would think ...
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Blog
PayPal to Pay $7.7 Million for 486 Sanctions Violations
PayPal, an electronic payments company, this week reached a $7.7 million settlement with the Treasury Department’s Office of Foreign Assets Control for processing 486 transactions in violation of OFAC regulations governing sanctions programs. The civil penalties could have been significantly higher, had PayPal not self-reported the violations and cooperated with ...
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Blog
SEC Investigating American Apparel
Embattled retailer American Apparel said this week in a Form 10-K filing that the Securities and Exchange Commission has ordered a formal investigation against it related to the ousting of Chairman and Chief Executive Officer Dov Charney. The company also provided the latest details on an internal investigation launched in ...
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Resource
e-Book: Rooting Out Conflicts of Interest
A conflict-of-interest issue can occur at any time. As regulators turn the heat up on this issue, most companies now have conflict-of-interest policies that oblige the disclosure of conflicts when they arise. But how useful are these policies? And can they be enforced around the globe? This e-Book, produced by ...
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Blog
Kadant Promotes Chief Accounting Officer
Kadant, a global supplier of critical components and engineered systems, has named Deborah Selwood as chief accounting officer, effective June 30. Selwood is currently the company’s corporate controller.
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Blog
Schlumberger Subsidiary Fined $232.7 Million for Sanctions Violations
Schlumberger Oilfield Holdings, a subsidiary of oilfield services giant Schlumberger, has entered into a guilty plea and will pay a record $232.7 million criminal fine for economic sanctions violations. The amount is the largest criminal fine in connection with an International Emergency Economic Powers Act prosecution. Details inside.
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Blog
Ceresney Testifies on Enforcement's Budgetary Needs and Performance
Last week, Andrew Ceresney, Director of the SEC's Division of Enforcement, testified before the Capital Markets and Government Sponsored Enterprises subcommittee of the House Financial Services Committee. Ceresney provided the subcommittee with details on how the Enforcement Division would use a proposed increase in the SEC's budget for FY 2016, ...