All Compliance Week articles in Web Issue – Page 695
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Blog
MUFG Names Chief Risk Officer
MUFG, a financial holding company and bank holding company with total assets of $114.3 billion, has appointed Donna Dellosso as chief risk officer for the Americas for MUFG Americas Holdings and its U.S. banking subsidiary, MUFG Union Bank. Dellosso will serve on the company’s executive committee for the Americas as ...
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Blog
Yahoo Chief Accounting Officer to Resign
Aman Kothari, global controller and chief accounting officer of Yahoo, has decided to leave the company. His departrure took effect Sept. 11, according to a Form 8-K that the company filed with the Securities and Exchange Commission. Details inside.
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Blog
Lenzi Named Head of Compliance at CHS
CHS Inc., a $42.7 billion agribusiness operation based in St. Paul, Minn., has named Jack Lenzi vice president of corporate compliance.
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Blog
Cohen and Sansone Named Co-Chiefs for SEC's Market Abuse Unit
The SEC has named Robert Cohen and Joseph Sansone as the new Co-Chiefs of the Division of Enforcement’s Market Abuse Unit, filling the position recently vacated by Dan Hawke.
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Blog
Doty Projects Year-End Completion of Engagement Partner ID
Image: More than a decade after regulators began mulling how to give some transparency to investors around who actually performs public company audits, PCAOB Chairman James Doty said he is hopeful that the board is on track to “get this done by the end of the year.” Doty recently said ...
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Blog
Court: Whistleblowers Protected, SEC Reporting or Not
A federal appeals court has ruled that employees are covered by anti-retaliation protections for whistleblowers provided by the Dodd-Frank Act, even if they don’t file a report with the SEC. The ruling is a warning to businesses to tread carefully when handing out discipline to a suspected whistleblower, whether or ...
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Resource
Lessons from the LIBOR Scandal
The manipulation of the London Interbank Offered Rate (LIBOR) has urged further analysis of electronic communications usage within regulated firms. The electronic communications landscape continues to evolve, as information is constantly created, exchanged, and stored. For regulated firms, it is essential to monitor and manage the flow of information to ...
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Blog
DoJ Shifts Policy on Corporate Prosecutions, Individual Culpability
Image: Representing a potential sea change in how the Justice Department approaches corporate prosecutions, a new policy memo stresses the importance of individual prosecutions. The memo, by Deputy Attorney General Sally Yates, appears to be a reaction to widespread criticism that in the wake of the financial crisis the Justice ...
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Blog
Welcome to the Enforcement Action Art Gallery!
Welcome to the "Enforcement Action Art Gallery," this blog's collection of the finest SEC and securities enforcement-related art available anywhere.
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Blog
Flying the Unfriendly Skies of Investigations and Resignations
Image: Title: SmisekRarely in compliance do you see a CEO resignation as unceremonious as the ouster earlier this week of now former head of United-Continental, Jeff Smisek (left). While his removal doesn’t involve foreign government officials—only local ones at the Port Authority of New York and New Jersey—it does provide ...
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Blog
Blood Is Not Thicker Than FCPA Risk
The SEC has now taken its first enforcement action in a “princeling” case, fining BNY Mellon for offering plum internships to the relatives of foreign officials to win business with their countries’ sovereign wealth funds. Inside, columnist Tom Fox looks at the case (which is probably the first of several) ...
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Blog
Geoffrey Coll Joins BakerHostetler’s Securities Litigation Practice
BakerHostetler has announced that partner Geoffrey Coll, a former diplomat to France and India, has joined the law firm’s litigation group and securities litigation and regulatory enforcement practice in the firm’s New York office.
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Blog
Edwards Promoted to Castle & Cooke's National Compliance Manager
Castle & Cooke Mortgage, an independent mortgage lender with 38 locations throughout the nation, has announced the promotion of Jenifer Edwards to national compliance manager. Edwards has served on the Castle & Cooke Mortgage compliance team since June 2014.
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Blog
Karin Lockovitch is New Director of Compliance at Zions Bancorporation
Zions Bancorporation has appointed Karin Lockovitch, a 16-year veteran of the financial industry, as its new director of compliance. She joined the bank after serving as senior vice president and consumer compliance officer for SunTrust Banks and senior director of regulatory risk management for Ally Financial.
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Article
Preventing an FTC Cyber-Security Action
Image: A federal appeals court has upheld the Federal Trade Commission’s efforts to sanction companies for poor data security practices—which opens a new front of cyber-security compliance and legal risks for Corporate America. “Basically, if consumers trust you with data, you need to use reasonable business efforts to honor that ...
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Blog
SEC Charges Bankrate, Former Executives With Accounting Fraud
Bankrate Inc. has agreed to pay $15 million to settle accounting fraud charges leveled against it by the Securities and Exchange Commission. Three former executives were also charged, accused of fraudulently manipulating the company’s financial results to meet analyst expectations. Bankrate’s former CFO Edward DiMaria is also accused of selling ...