All Compliance Week articles in Web Issue – Page 727
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Article
IIA to Push More Flexible Internal Audit Planning
Image: The Institute of Internal Auditors will unveil an overhaul of its professional practices framework this summer, including a push for audit executives to be more flexible in their audit planning. Whether that means a “rolling audit plan,” contingency funds for surprise risks, or other methods, many say the idea’s ...
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Article
Brit Banking Regulators Wield Attestation More Often
Deutsche Bank paid $345 million to British regulators for its role in the LIBOR scandal, $153 million of that stemming from a false attestation the bank submitted about its internal controls. Those attestations are emerging as a potent tool for the U.K. Financial Conduct Authority. “This case sends a strong ...
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Blog
Morton Salt Names General Counsel
Morton Salt has appointed Chad Walker as general counsel and corporate secretary. He succeeds Mary Doohan, who retired last year after a successful 23-year career with the company. Details inside.
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Article
Suddenly, Washington Is Back at Cyber-Security Discussion
Image: For the first time in years, Washington is abuzz with proposed changes to cyber-security disclosure, both in Congress and at the SEC. Above all, experts say, is a need to clarify terminology and expectations. “There should be minimum standards for what that security should be across the board,” says ...
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Article
As SEC Delays on Extractive Payments, World Moves Ahead
The SEC has fought all sides on its proposed rule to disclose payments to governments for mining rights: oil and gas companies on one hand saying the rule is flawed; activists on the other saying the rule is overdue. The trouble, however, is that while the SEC tussles in court, ...
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Blog
LRN Launches Catalyzing Conversations Toolkits
LRN, an ethics and compliance advisory services and education firm, today announced the launch of Catalyzing Conversations Toolkits, a turn-key solution designed to help mid-level managers start a dialogue with employees about the organization’s code of conduct and policies, as well as actively engage employees in E&C training. Details inside.
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Blog
Study: Social Media Befuddles Compliance
The average Fortune 100 firm has approximately 320 social media accounts and engages with more than 210,000 “followers” annually. The problem, according to a new study, is that the pace, scale, and informal culture of corporate social media creates regulatory risks that go beyond the traditional skill set of compliance ...
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Article
The Compliance Officer’s Role in Driving CSR Efforts
As corporate social responsibility becomes a business norm across Europe, two questions for compliance officers are what role they should play, and how they can leverage a vibrant CSR effort to enhance corporate culture and values. In part two of our look at CSR programs, this week we explore how ...
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Article
Anti-Corruption Compliance Improves in Defense Sector
Image: A new Transparency International report examining anti-corruption measures in the defense sector holds both good and bad news: Many defense companies have improved their ethics and anti-corruption compliance programs; plenty more still have lots to do. “It is clear that many companies in the industry are paying closer attention ...
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Blog
SFO Brings Corruption Charges Against Former Alstom Compliance Executive
Image: Title: LainéBritain’s Serious Fraud Office has filed corruption charges against a former head of ethics and compliance at Alstom, the beleaguered French firm subject to anti-bribery investigations in multiple countries. The charges against Jean-Daniel Lainé stem from bribes Alstom allegedly paid in the 2000s to supply trains to the ...
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Blog
What Really Serves Shareholders’ Best Interests
Proxy season is upon us, which means the annual call in many boardrooms to shake up the board of directors. Replacing directors does occasionally make sense, Compliance Week columnist Rick Steinberg says—but that’s not the same as surrendering to every activist’s demand for new people in the boardroom. Inside, Steinberg ...
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Blog
Investors Protest Private Company Standards
Efforts on the part of standard-setters to wring some complexity out of financial reporting might be helpful to preparers of financial statements, but investors are starting to pipe up in protest.
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Blog
SEC Approves Tick-Size Pilot Program
The SEC has approved a proposal by the national securities exchanges and the Financial Industry Regulatory Authority for a two-year pilot program that will widen the minimum quoting and trading increments, known as tick sizes, for stocks of some smaller companies. The program—to begin May 6, 2016—will include stocks of ...
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Blog
New Conflict Minerals Reporting Template Available
The Conflict-Free Sourcing Initiative has published an update to its Conflict Minerals Reporting Template, a tool for tracing the use of conflict minerals in a company’s supply chain and validating smelters. CMRT 4.0, a free reporting template, expedites the identification of new smelters and refiners that may undergo an audit ...
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Blog
Intertek Names VP, Compliance and Risk for North America
Intertek, a provider of quality and safety services to a wide range of industries around the world, has appointed Q VanBenschoten as vice president, compliance and risk for North America. Details inside.
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Blog
Dun & Bradstreet Discloses FCPA Investigation Costs
Dun & Bradstreet, a commercial data and analytics provider, disclosed in a recent securities filing that it spent slightly more this time around than the same period last year on costs associated with its China investigation into possible violations of the Foreign Corrupt Practices Act. Details inside.
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Blog
Carestream Names Chief Compliance Officer
Carestream Health, a medical film and digital imaging solutions provider, has appointed Jim Nortz as chief compliance officer. Nortz joined Carestream in April from Sutherland Global Service, where he served as corporate compliance director. Details inside.
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Blog
SEC Gives Views on Courts vs. Administrative Hearings
News sure to please corporate compliance and legal officers everywhere: The SEC has finally published guidance on how it decides whether to bring enforcement matters to court or in-agency administrative proceedings. The SEC has been bringing more actions against companies as administrative proceedings, sparking complaints that targets’ due process rights ...
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Blog
SFO: Alstom to Face More Criminal Charges
The U.K. Serious Fraud Office recently announced that it has brought fresh charges against Alstom Network U.K. and an Alstom employee in phase three of its ongoing investigation. The latest charges concern allegations of corruption for the supply of trains to the Budapest Metro. Details inside.
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Blog
New Alliance to Serve Specialty Pharmacy Industry
CohnReznick, an accounting, tax, and advisory firm, has created a collaborative market solution with healthcare law firm Frier & Levitt and specialty pharmacy consulting firm CSI Specialty Group. The alliance will provide a comprehensive array of services tailored to the specialty pharmacy industry. Details inside.