All Compliance Week articles in Web Issue – Page 943
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Blog
Flap over non-GAAP gets standard setters' attention
The disturbing rise of non-GAAP reporting in 2016 has prompted standard setters to take a closer look at whether changes to current rules are in order. Tammy Whitehouse explores.
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On the death of the ‘rogue engineer’
For The Man from FCPA Tom Fox, the most interesting thing about the Volkswagen indictments were not that ‘rogue engineers’ were charged but that executives who participated in the cover-up were indicted.
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Zimmer Biomet to pay $30M to resolve FCPA violations
Medical-device maker Zimmer Biomet Holdings has agreed to pay more than $30 million to resolve parallel SEC and Department of Justice investigations into the company’s repeat violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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US Foods names chief compliance officer
US Foods Holding has named Kristin Coleman as executive vice president, general counsel, and chief compliance officer, effective Feb. 1.
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BasisCode Compliance forms compliance advisory council
BasisCode Compliance, a provider of regulatory compliance software solutions, has formed an advisory council of leading compliance consulting firms to provide industry input in the continuing development of its compliance software platform.
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Morgan Stanley to pay $13M for overbilling clients
The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney has agreed to pay a $13 million penalty to settle charges that it overbilled investment advisory clients due to coding and other billing system errors. The firm also violated the custody rule pertaining to annual surprise examinations. ...
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Grapevine: Who’s coming and going in compliance
US Foods Holding has named a new general counsel and chief compliance officer, effective Feb. 1; Nationstar Mortgage Holdings has a new chief risk officer; and Infosys Limited will say goodbye to yet another chief compliance officer. Check out the CW Grapevine for the latest personnel moves.
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Next in line for regulatory troubles, Fiat?
Fiat, which was recently flagged by the EPA for pollution violations, could be a reminder to companies to scour the news for details on any regulatory investigations of their peers and perhaps to begin scrutinizing their own books and records, says The Man From FCPA Tom Fox.
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Disparaging a speak-up culture
Tom Fox explores the recent case of JPMorgan Chase when an employee’s former manager added material to a terminated employee’s file post termination to beef up the excuses for the termination. Not a good sign, says Fox, and possibly a sign of an ineffective compliance program.
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Moody’s to pay $864M arising from conduct leading up to financial crisis
Moody’s Investors Service, Moody’s Analytics, and their parent, Moody’s, have reached a nearly $864 million settlement agreement with the Department of Justice, 21 states, and the District of Columbia to resolve allegations arising from Moody’s role in providing credit ratings for residential mortgage-backed securities and collateralized debt obligations. Jaclyn Jaeger ...
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Wither the attorney-client privilege?
Attorney-client privilege is once again under siege, writes Tom Fox—this time in a lawsuit being brought by the former general counsel of Bio-Rad, Sanford Wadler, who is suing his former employer for wrongful termination.
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Labor Department offers FAQ on fiduciary rule
The Department of Labor has released a second series of “frequently asked questions” on its controversial “fiduciary duty” rule for advisers who are paid to make recommendations about retirement accounts. Joe Mont has more.
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OSHA unveils whistleblower anti-retaliation framework
OSHA has released its long-awaited guidance on best practices for whistleblower anti-retaliation programs. The recommended framework can be used to create and implement a new program or to enhance an existing program, writes Joe Mont.
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In final speech, Chair White reflects on an SEC under attack
In what may be her final public remarks as SEC chairman, Mary Jo White said that political gamesmanship and current legislative climate could erode the agency’s independence and “cripple” enforcement efforts. Joe Mont has more.
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Article
Debating ‘anything of value’ under the FCPA
Are U.S. enforcement agencies interpreting the term “anything of value” under the FCPA too broadly? Jaclyn Jaeger explores both sides of the debate.
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Article
SEC oversight in the Digital Age
Big Data is the compliance buzzword of the day, but at the SEC, high technology is both a challenge and an opportunity. Jaclyn Jaeger has more.
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Blog
Rolls-Royce responds to $800M global resolution in FCPA case
British engineering company Rolls-Royce has agreed to pay the United States nearly $170 million as part of an $800 million global resolution with U.S., U.K., and Brazilian authorities into a long-running bribery scheme. Jaclyn Jaeger reports.
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As SEC broadens international enforcement focus, compliance efforts must adapt
Under Mary Jo White, the SEC greatly expanded its focus on cross-border enforcement, adding risk and compliance challenges for companies wherever they are based. Joe Mont reports.
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Companies get proactive to control audit costs, report says
Companies are mitigating increases in audit fees, and in some cases are even reducing audit costs, using some key tactics outlined in a new report. More from Tammy Whitehouse.
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Article
Congressional blitzkrieg seeks to downsize regulatory regime
Even before Inauguration Day, the House of Representatives was fast-tracking legislation intended to scale back regulatory rulemaking. Joe Mont reports.