All Compliance Week articles in Web Issue – Page 731
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Blog
PCC Seeks Nominations for New Chair; Members
Private Company Council Chairman Billy Atkinson this week announced that he will not seek a second term as head of the group. As a result, the Financial Accounting Foundation Board of Trustees issued a request for nominations for candidates to succeed Atkinson next January and to fill other potential vacancies ...
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Blog
Weaver Launches New IT Advisory Service
Weaver, an independent accounting firm, recently launched a new IT advisory service that provides payment card industry (PCI) data security assessments. Brian Thomas and Brittany George, both in Weaver’s IT advisory services, have met the necessary requirements to earn the Qualified Security Assessor (QSA) certification from the PCI Security Standards ...
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Blog
OECD Roasts Iceland on Anti-Bribery Efforts
The Organization for Economic Cooperation and Development’s Working Group on Bribery this week said it has “serious concerns” about Iceland’s lack of progress in both combating the bribery of foreign public officials. Out of 17 recommendations made by the Working Group in 2010, just two of the recommendations had been ...
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Newtek Hires Chief Risk Officer
Newtek Business Services, an internally managed business development company (BDC), has appointed Michael Campbell as chief risk officer for Newtek Merchant Solutions. Details inside.
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Blog
Porzio Life Sciences Establishes Netherlands Office
Porzio Life Sciences (PorzioLS), a provider of regulatory compliance and legal services to the life sciences industry, has formed a new affiliate based in the Netherlands. PorzioLS also announced the introduction of Porzio GST, a configurable interface that enables drug and medical device companies to capture and manage data elements ...
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Blog
Farient Advisors Launches New Global Governance Network
Farient Advisors, an independent executive compensation and performance consulting firm, this week announced the launch of the Global Governance and Executive Compensation Network. The GECN brings together a select group of independent advisory firms specializing in the compensation and governance challenges that are faced by companies and other institutions, both ...
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Blog
SEC May Create One-Stop Database for Investors
The SEC may consider the creation of a new public database that compiles the scattered array of information on financial professionals and securities laws violations. A proposal from its Investor Advisory Committee would link to existing databases run by regulators and self-regulatory organizations. More inside.
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Resource
e-Book: Cultivating a Culture of Compliance
A strong ethical culture is the foundation of a successful compliance program. It is also among the most difficult program elements to define, establish, and maintain over time.In this e-Book, produced by Compliance Week in cooperation with NAVEX Global, we explore practical steps organizations can take to create and sustain ...
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Blog
Batista Insider Trading Case: From ‘Landmark’ to ‘Turmoil’ to ‘Farce’
The already-bizarre Brazilian insider-trading case against former billionaire Eike Batista “desended into farce” this week when the presiding judge was charged with embezzling more than $360,000 in seized money to buy himself a bulletproof Land Rover and an apartment. Prosecutors also claim that Judge Souza destroyed documents pertaining to the ...
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Blog
FLIR Systems Settles FCPA Charges for $9.5 Million
Thermal imaging manufacturer FLIR Systems has reached a $9.5 million settlement with the SEC to resolve charges that it violated the Foreign Corrupt Practices Act by financing what an employee termed a “world tour” of personal travel for government officials in the Middle East who played key roles in decisions ...
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India Sentences ex-Satyam CEO to 7 Years in Prison
Ramalinga Raju, former chairman and CEO of Satyam Computer Services, was found guilty in an Indian court this week and sentenced to seven years in prison for his role in “India’s Enron”—a $1 billion accounting fraud that was revealed in 2009. Raju also admitted in a letter to Satyam’s board ...
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Blog
FASB Simplifies Presentation of Debt Issuance Costs
FASB has approved a measure to revise the presentation of debt issuance costs. Financial statement preparers told the board that existing rules establishing different balance sheet presentation requirements were unnecessarily complicated. FASB now says companies should treat debt issuance costs as they do debt discounts in the balance sheet, deducting ...
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Blog
International Speedway Appoints New Board Member
International Speedway Corporation this week announced the appointment of Larree Renda, executive vice president of Safeway, and the re-election of four members to the company's board of directors. Details inside.
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Resource
The Elements of Privacy Risk – GRC Illustration
Organizations that handle personal information face increasingly complex challenges to effectively manage privacy risk and compliance. The impact of these challenges covers the entire information life cycle.Whether information is collected to support individual transactions, conduct research or meet legal requirements, the duty to keep that information secure and private arises. ...
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Blog
Publicis Groupe Appoints General Counsel
Paris, France-based Publicis Groupe, a digital, technology, and consulting company, has appointed Joseph LaSala general counsel. He replaces Eric Antoine Fredette, who is moving on to a new career opportunity.
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Blog
France Lags Behind in Global Corruption Fight
France has drawn international attention amid a string of scandals that engulfed some of the country’s largest companies. When compared to the United States, experts believe that French authorities are more lenient on wrongdoing. The Organization of Economic Cooperation and Development is “seriously concerned” by the country’s “lackluster response” toward ...
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Blog
New Disclosures for U.K. Companies on Owner Registry
The British Parliament recently signed off on new legislation that calls for more information about the true owners behind U.K. companies. According to Transparency International, the U.K.’s property market is a conduit for “corrupt capital stolen from around the world.” Current regulations allow U.K. properties to be owned by secret ...
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Blog
AOL Chief Compliance Officer Joins Panasonic as General Counsel
Panasonic Corporation of North America, the principal North American subsidiary of Japan-based Panasonic, has appointed Damien Atkins as general counsel and corporate secretary. Atkins joins Panasonic from AOL, where he served as deputy general counsel and chief compliance officer.
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Blog
FASB Shifts Gears on Cash-Flow Classification Issues
Image: FASB has asked its Emerging Issues Task Force to dig into nine specific cash-flow issues to see if it can suggest some changes to existing guidance to make this area of accounting more straightforward. “We’re going to continue with the project, but change the dynamic,” said FASB Chairman Russ ...
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Resource
Meet Dodd-Frank Act Recordkeeping Requirements
Dodd-Frank regulations have introduced wide-ranging legal, regulatory, and policy changes that impact how financial institutions manage their enterprise information. These include:Record retention of all related electronic communications24-72 hour regulatory request responseRegulator access to all related transaction informationEvent reconstruction with intelligent contextHP invites you to learn more about these issues and ...