All Compliance Week articles in Web Issue – Page 705
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Blog
Committee Suggests New Rules for XBRL Filings
A self-appointed committee of XBRL advocates has developed guidance and rules that will help preparers roll out better quality XBRL filings. The Securities and Exchange Commission requires that companies provide data in XBRL, but has done little beyond occasional public remarks for companies to improve the quality of their XBRL ...
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Blog
Deloitte Acquires CIS to Expand Compliance Services for Life Sciences, Healthcare Industries
Deloitte this week announced that it has acquired Compliance Implementation Services (CIS), a life sciences compliance consulting firm. CIS will join Deloitte Advisory, a risk and financial advisory practice, as part of its regulatory compliance market offering. Effective immediately, the business will operate as “CIS by Deloitte." Details inside.
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Blog
New Mimecast Services Extend Spear-Phishing Protection
Mimecast has announced two new measures designed to protect against spear-phishing. The first measure, Attachment Protect, and user awareness enhancements reduce the threat from malware-laden attachments and help IT teams improve employee security awareness. The second measure, Mimecast Targeted Threat Protection – URL Protect, give customers a comprehensive line of ...
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Blog
FCPA Actions Down, Declinations Up
The Justice Department and Securities and Exchange Commission resolved eight Foreign Corrupt Practices Act enforcement actions so far in 2015—the lowest mid-year total in a decade, according to recent analysis from law firm Miller & Chevalier. “This slow-down seems to be attributable, in part, to a greater emphasis on declinations ...
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Blog
Martin Wheatley Resigns as FCA Chief Executive
The Financial Conduct Authority has announced that Martin Wheatley, its chief executive, will leave his post in September 2015. Wheatley was selected in 2013 to shepherd the creation of the U.K. regulator. His resignation was reportedly prompted by news that his contract would not be renewed next year. Director of ...
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Blog
SEC Issues Another Big Whistleblower Award
The SEC has awarded more than $3 million to a company insider whose information helped the SEC crack a complex fraud case—the third-highest award to date under the SEC’s whistleblower program. Since its inception in 2011, the program has paid more than $50 million to 18 whistleblowers, including a more ...
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Blog
SEC Alleges Loose Lips at Law Firm Led to Insider Trading
Yesterday, the SEC filed a second insider trading case alleging that non-public information was leaked by a legal assistant whose law firm was advising on a merger involving Harleysville Group, Inc.
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Resource
e-Book: New Rules: Revenue Recognition
Research shows that many companies have yet to fully wrap their arms around the new regulations affecting revenue recognition. To complicate the issue, the 700-page document of new accounting rules contains uncertainties that require compliance officers to be on point with their game.This e-Book, produced by Compliance Week in cooperation ...
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Blog
Exiger Adds Managing Director
EXIGER, a global regulatory and financial crime, risk and compliance firm, has appointed Christopher Prather as managing director at EXIGER Advisory, EXIGER’s specialized consulting division, which executes the firm’s monitoring assignments and delivers sustainable governance, risk management and regulatory compliance consulting services to financial institutions, government agencies, non-profit organizations and ...
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Blog
GM Names Corporate Secretary, Deputy General Counsel
General Motors has appointed Jill Sutton as corporate secretary and deputy general counsel for corporate, finance and strategic transactions, effective immediately. Sutton will report to Craig Glidden, executive vice president and general counsel. Details inside.
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Blog
Study Exposes Holes in Governance Performance
Image: Most companies are weak in their implementation of corporate governance processes, suggesting directors at the board level are not adequately involved, according to a global study out of Belgium. “The findings are a call to action for board members to take responsibility for ensuring that their organization’s information and ...
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Blog
Employee or Independent Contractor? Labor Department Weighs In
Image: The Labor Department issued new guidance on how companies should distinguish between employees and independent contractors. “The main difference between the new interpretation and the Labor Department’s prior enforcement policy is a greater emphasis on the ‘economic dependence’ of the workers on the business that has engaged their services,” ...
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Blog
Sherwin-Williams Elects New Director
Paint company Sherwin-Williams has elected Steven Wunning to its board of directors, effective as of July 15. He also was appointed to the compensation and management development committee. Details inside.
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Blog
OGE Energy Appoints New Board Member
OGE Energy has appointed David Hauser to the company's board of directors and as member of its audit committee, effective as of July 15. The company also announced the retirement of Robert Kelley, who has served as a director since 1996. Details inside.
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Blog
U.S. Chamber: 28 Recommendations on SEC Enforcement Practices
Today the U.S. Chamber of Commerce released an interesting, 64-page paper entitled, "Examining U.S. Securities and Exchange Commission Enforcement: Recommendations on Current Processes and Practices." The report offers 28 specific recommendations on how to improve the SEC enforcement process.
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Blog
Two More Banks Reach Agreements Under Swiss Bank Program
The Department of Justice last week announced that two more banks— Banque Pasche and ARVEST Privatbank —have reached resolutions under the Department’s Swiss Bank Program, which provides a means for Swiss banks to resolve potential criminal liabilities in the United States. Banque Pasche will pay a $7.2 million penalty, and ...
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Blog
White: SEC Enforcement Not Targeting Compliance Professionals
Image: The message from SEC Chairman Mary Jo White to compliance officers: They are not the target of enforcement efforts. Speaking to 1,000 compliance officers from financial services firms and broker-dealers at a Commission-sponsored forum, White said, “We do not bring cases based on second guessing compliance officers’ good faith ...
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Blog
Accounting Scandal Takes Down Toshiba’s Head Honcho
Image: Hisao Tanaka, chief executive of Toshiba Corp., is expected to step down in September in light of accounting missteps at the Japanese conglomerate. The domino effect will continue as key board members are rumored to be leaving over the next few months. News reports indicate that top executives ...
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Resource
Groundbreaking Research on Policy Management from 900 E&C Leaders
Use this exclusive benchmarking data to improve your program effectiveness.In NAVEX Global’s 2015 Ethics & Compliance Policy Benchmark Report, you'll learn what E&C professionals are doing to simplify policy-related tasks, address their most difficult challenges, and measure the effectiveness of their program. In addition to providing metrics you can use ...