Compliance Week TV

In our first Compliance Week TV video we hear from Frank Diana, executive vice president of enherent Corporation, who discusses the challenges involved in information management.
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Compliance Week Podcasts …

This week’s podcast features Lucy Marcus, CEO of Marcus Venture Consulting, talking about shareholder and director activism, and how corporate executives can work with them more effectively. Hear the podcast now or …

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Webcasts of the Week

Defining and Executing Systematic, Risk-Based Third-Party Due Diligence for FCPA Compliance
Sponsored by The Steele Foundation

Help Wanted: Ad of the Week

Compliance Education & Communications Mgr.
Submitted by Oracle

Event of the Week

Corporate Governance Programs
Courtesy of Harvard Business School

Thought Leadership of the Week

Access Management: Efficiency, Confidence, Control
Courtesy of SAP

The Resource Exchange

Code of Conduct
Submitted by BP

Sample Risk Acceptance Request
Submitted by Circuit City

Featured Databases

Whistleblower Guidelines
Search Whistleblower Policies, Contract Options

Class-Action Filings
Download Text of Class-Action Complaints

GRC Illustrated Series

Improving GRC by Visualizing Your Data
The 24th Installment in This Exclusive Series

15 Questions Flag FCPA Risk A violation can carry a six-figure penalty plus millions in investigation expenses. Download this briefing, "Red Flags That May Indicate You Are at Risk of Violating FCPA."

IN-DEPTH COVERAGERSS

Mixed Reactions on SEC Adoption of Proxy Access

Littenberg After three failed attempts, the SEC has finally adopted a rule to let shareholders have their nominations for board directors included in the proxy statement. Michael Littenberg of the law firm Schulte Roth & Zabel says many public companies are “breathing a sigh of relief,” since the rule in its final form is “likely to mitigate the impact of proxy access in 2011.” Details inside.

Federal Contractors Prep for Greater Regulatory Scrutiny

Dyer A warning to federal contractors: Regulators are making good on their promise to reinvigorate enforcement against allegations of waste, fraud, and abuse. “My suspicion is that this is not going to ease any time soon,” says Joseph Dyer of law firm Seyfarth Shaw. Their latest target: executive compensation and sub-contractor awards.

FTC and DoJ Issue New Horizontal Merger Guidelines

The Federal Trade Commission and the Justice Department have issued long-awaited revised guidelines over how the agencies evaluate horizontal mergers among rival businesses. On the plus side, observers say the revised guidelines are more transparent; others say they offer less certainty about whether a deal will pass muster.

Small Cos. Still Under the Gun

Martin With passage of the Dodd-Frank Act, small public companies now have a permanent exemption from Section 404(b) under Sarbanes-Oxley—but that doesn’t mean they are free of scrutiny. Companies must still establish and maintain an effective control environment, and report on the effectiveness of controls, says Alyssa Martin with audit firm Weaver. Details inside.

Survey: Cos. Lack Business Intelligence Capabilities

Lucker A new survey of technology executives reveals that most companies are still lagging in the analytical skills that help drive better decision making. The results underscore that most companies are “still struggling with fundamental technical and business process foundations … to implement and use business analytics in a strategic and sustainable way,” said John Lucker of Deloitte Consulting, which conducted the poll.

COLUMNIST

Analysis: FASB on Contingencies

Earlier this summer, FASB published an exposure draft over a new method for how companies should disclose the potential cost of contingencies such as lawsuits and other uncertain events. The revised proposal did recognize many of the concerns initially raised, but some issues still remain. So this week, Compliance Week Columnist Colleen Cunningham asks: Will this work? Her thoughts are inside.

LATEST NEWS

Poll: Companies Struggle to Address Social Media Risks

Armstron A new Deloitte poll finds that most companies are still struggling with how to manage their social media risks. Out of more than 1,700 respondents, only 35 percent said their company has a social media policy in place. “[I]n terms of acting, companies are still struggling to figure out what to do,” says Benton Armstrong of Deloitte. He offers some helpful advice inside.

Proposed Taxonomy Updates

The Financial Accounting Foundation has published its proposed 2011 U.S. GAAP Financial Reporting Taxonomy, which has been updated to reflect the latest changes in accounting standards. The changes will be open for a 60-day review and comment period before it is finalized and published in early 2011. More details inside.

SEC Cautions Credit Agencies on Deceptive Ratings Conduct

Carton The SEC issued a report this week cautioning credit rating agencies about deceptive ratings conduct and the importance of sufficient internal controls. The report cautions that, when appropriate, the SEC will pursue antifraud enforcement actions. CW legal blogger Bruce Carton has more details on the SEC report inside.

Herz Retires, FASB Expands
at Key Point in Convergence

Herz After eight years of serving as FASB Chairman, Robert Herz has announced plans to retire. His departure comes at a time when the five-member FASB is expected to bring on two new members by early 2011, altering the composition of the board midway through a critical shakeup in U.S. accounting rules.

Reports Eye Life Settlement Regulation and Oversight

A lack of life settlement oversight has prodded two regulators to issue reports on this growing insurance market, seeking regulatory change. One report by the General Accounting Office seeks more protection for policy owners, while another report by the SEC seeks greater protections for investors. Full details on both reports are inside.

FASB Offers Up Smattering of Narrow Guidance Proposals

Despite some heavy duty accounting changes on its agenda, FASB is still making room for more narrow or industry-specific issues, with several proposals published in just the last week handed up by the board’s Emerging Issues Task Force. On the agenda: changes ahead for insurers and health care entities, among others. Full details inside.

Poll: Costs Drove Notice & Access Adoption for Issuers

A recent survey by Bowne and Mediant Communications regarding Notice & Access usage in 2010 showed that, out of 329 respondents, 42 percent had adopted the model. Cost savings was the main driver behind adoption, while others cited enhanced communication via the Internet, and a goal of becoming more economically responsible.

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