All Compliance Week articles in Web Issue – Page 724
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Article
Fighting Complexity With Integrated Compliance Efforts
More than ever before, managing compliance risk now requires a framework that unifies decentralized compliance activities. The goal: to streamline monitoring, testing, and reporting. That may sound difficult in theory—and, well, it’s difficult in practice too. Inside we have tales from Coca-Cola and Kimberly-Clark on how they try to integrate ...
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Article
More Hints at More Audit Committee Disclosure
Image: The SEC plans a concept release “soon” that could modernize audit committee disclosures for the first time in years, including touchy subjects like naming the audit engagement partner. Expect awkward questions to follow about how audit firms are hired and perform the work they do. “This foreshadows what I ...
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Article
Resolving Compliance and HR Turf Wars
Image: Compliance and HR have been tussling for years over which function owns company culture, when the truth is both have a crucial role to play. “If HR and compliance could come together and realize and accept that they’re on the same team … it could be a really powerful ...
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Blog
Four Lessons, and One Basic Rule, From the DuPont Battle
The high drama of this year’s proxy season happened in May, when DuPont thwarted a boardroom takeover pushed by hedge fund guru Nelson Peltz and his Trian Partners fund. How? This week, columnists Stephen Davis and Jon Lukomnik critique the basic strategy Trian used and the counter-offensive DuPont skillfully employed ...
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Blog
E*TRADE Names Acting Chief Risk Officer
E*TRADE Financial has named Paul Brandow as acting chief risk officer. Brandow will assume the chief risk officer role from Michael Pizzi, who will become chief financial officer, effective June 16, after current CFO Matthew Audette advised the company of his decision to leave to pursue a new opportunity. Details ...
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Blog
The Inland Real Estate Group Names Chief Accounting Officer
The Inland Real Estate Group, part of The Inland Real Estate Group of Companies, has named Prashant Bodhanwala as chief accounting officer. In this role, he will oversee accounting, financial strategic planning and financial analyses for Inland. Details inside.
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Blog
Paragon Offshore Names Chief Accounting Officer
Paragon Offshore has named Alejandra Veltmann as chief accounting officer. She reports to Chief Financial Officer Steven Manz. Details inside.
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Blog
How Dodd-Frank Is Working—and How It Isn’t
Image: Congress is back in session, which means another round of political bickering over reform of the Dodd-Frank Act. Alas, Compliance Week Editor Matt Kelly says, the law is already working as one would expect—that is, a little bit effectively, and a little bit stupidly. Compliance officers should not hold ...
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Blog
AK Steel CCO Named Corporate Secretary
AK Steel has named Joseph Alter as corporate secretary, in addition to his current roles as general counsel and chief compliance officer. Details inside.
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Blog
Ex-Wells Fargo CEO Slams ‘Absurd’ Compliance Spending
Image: Is the compliance ramp-up at big banks to blame for layoffs, including the 5,000 of them announced last month by JPMorgan? Richard Kovacevich, former CEO of Wells Fargo, seems to think so. “It is absurd that [banks] are investing that kind of money on compliance” he said of growing ...
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Blog
PCAOB Considers Standard on Using Specialists’ Work
Image: The Public Company Accounting Oversight Board has issued a staff consultation paper looking for input on whether and how to revise standards around the auditor’s use of the work of specialists. PCAOB Chairman James Doty said, “We want our standards to keep pace with the realities in the marketplace, ...
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Blog
Five Major Banks Agree to Parent-Level Guilty Pleas
Five major banks—Citicorp, JPMorgan Chase, Barclays, The Royal Bank of Scotland, and UBS—last week agreed to plead guilty to conspiring to manipulate the price of U.S. dollars and euros exchanged in the foreign currency exchange (FX) spot market. The banks also agreed to pay criminal fines totaling more than $2.5 ...
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Blog
Big Lots Names General Counsel and Corporate Secretary
Big Lots has appointed Ronald Robins as general counsel and corporate secretary. He will be a member of the executive leadership team and report directly to President and CEO David Campisi. Robins previously served as general counsel, chief compliance officer, and secretary of apparel retailer Abercrombie & Fitch.
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Blog
J&J Chief Accounting Officer to Retire
Stephen Cosgrove, controller and chief accounting officer of Johnson & Johnson, will retire in October, the company announced in a Form 8-K. Upon Cosgrove’s retirement, these roles will be filled by Ronald Kapusta, who is currently vice president of finance of J&J's supply chain. Details inside.
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Blog
Marsh and FireEye Partner to Offer Cyber-Security Readiness Service
Marsh, an insurance broker and risk management firm, and FireEye, a cyber-security firm, has announced a collaboration to offer clients a new service: Marsh Cyber OASIS. This service is designed to assists clients by providing an objective evaluation of their organization’s ability to detect and respond to cyber-attacks and the ...
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Blog
Tips on Building a Better, User-Friendly EDGAR
A slew of business groups, from the Center for Audit Quality to the U.S. Chamber of Commerce and others, have voiced their collective opinion on how the SEC can improve the EDGAR filing process. Their top recommendations were search improvements and the ability to download data in multiple formats. See ...
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Blog
Novaworks Introduces Legato 1.0 for SEC Filers
EDGAR conversion and filing software provider Novaworks this month launched Legato 1.0, the first scripting language that allows SEC filers to integrate existing financial reporting software with existing database and document production systems. Details inside.
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Blog
New Hearsay Social Solution Simplifies Social Media Compliance
Hearsay Social, provider of the Predictive Social Suite for financial advisors and insurance agents, this week announced the launch of the new Universal Supervision experience for social media and website content, designed to make it easier and faster for financial services companies to enforce compliance policies. Details inside.
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Blog
Compliance Director Charged With Defrauding Investors
The Securities and Exchange Commission yesterday announced fraud charges against a former director of compliance of a registered broker-dealer who was accused of defrauding investors and stealing money from the brokerage firm where he worked. “We allege a classic situation of the fox guarding the henhouse as William Quigley subverted ...