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Published every Thursday, Compliance Week Europe offers a condensed summary of risk, audit, and compliance news either originating in Europe, or of special interest to European compliance professionals. This newsletter will follow developments by the European Commission, as well as those of national governments across the region, or any U.S.-based news that might have consequence across the Atlantic. Frequency: weekly; Thursday a.m.

A fresh edition of Compliance Week delivered via e-mail and online every Tuesday morning, relentlessly focused on the disclosure, reporting and compliance requirements of our 25,000+ paying subscribers.

Published every Friday, Compliance Weekend was launched at the behest of subscribers, and offers a quick Plain English review of the week's key developments. We hope you enjoy this supplement to Compliance Week's Tuesday edition.

e-Book: Building an Effective Compliance Program
Getting executives and middle managers to “buy in” to the goals of compliance can be an uphill battle at many companies. In this e-Book, produced by Compliance Week in cooperation with Boeing, we look at what companies are doing to change that perception and build effective compliance systems. Read here.

  • News bulletin

    Even Before New Standards Kick In, Revenue Needs More Attention

    September 23, 2014

    Before starting work on implementing new accounting standards, companies may have to give current revenue recognition practices more attention after regulators alerted auditors to buckle down on revenue-related audit procedures. The alert follows on the heels of audit inspections that noted a rise in problems with revenue recognition. “You’d be making a bad decision if you didn’t beef up your revenue testing,” says Justin Van Fleet, a principal with audit firm Friedman.

  • News bulletin

    How Two Companies Got Regulators to Drop FCPA Charges

    September 23, 2014

    Rarely do the Justice Department or SEC completely absolve companies of wrongdoing after pursuing charges of violating the Foreign Corrupt Practices Act. The agencies did it twice, however, in the past two months, citing a list of good behaviors for dropping the charges, including self-reporting the offense, cooperating closely on the investigation, and improving compliance programs and controls. More details inside.

  • News bulletin

    Are FCPA Industry Sweeps a Thing of the Past?

    September 23, 2014

    Harmon-zack-0914The number of enforcement actions for violations of the Foreign Corrupt Practices Act is still on the rise, but government agencies appear to be taking a more targeted approach and conducting fewer industry sweeps to hunt lawbreakers. That’s good news for companies, since such sweeps can trigger investigations based on little evidence of a violation. “It’s very expensive and disruptive,” says Zack Harmon, a partner with the law firm King & Spalding.

  • News bulletin

    Justice Department Launches Full-Court Press on Banks

    September 23, 2014

    Reich-steven-0914In the span of one week, four high-ranking Department of Justice officials delivered speeches that focused on renewing efforts to pursue wrongdoing at financial institutions. Among the ideas officials floated: larger whistleblower awards; increased cooperation between civil and criminal divisions and with international agencies; prosecuting more individuals; and more leniency for firms that maintain a top-notch compliance program. “They are breaking new ground and using all available tools at their disposal,” says Steven Reich, a partner at law firm Akin Gump.

  • The Filing Cabinet Blog

    Podcast: Surviving the EU’s Cookie Crackdown

    September 22, 2014

    Cookies, those tiny bits of data popped onto your hard drive every time you visit certain Websites, have fueled privacy concerns in the European Union and led to privacy regulations. Last week, officials across the European Union began a cookie sweep, a blitz of audits intended to make sure companies are in compliance. In this week’s podcast, we speak to Chris Babel, CEO of TRUSTe, and Phil Lee, an attorney with the international law firm Fieldfisher, about the cookie crackdown and their advice for companies here and abroad.

  • News bulletin

    CFTC Wants Lots of Swaps Data and Wants It Fast

    September 23, 2014

    Collet-harald-0914The Commodity Futures Trading Commission’s trade reconstruction rule requires financial firms that deal swaps to hand over a trove of trade data upon request, and to do it within 72 hours. Some say that’s unreasonable, since the requests can cover data from several platforms. “You have slow legacy systems and you have your records scattered across systems,” says Harald Collet, global business manager for Bloomberg Vault. “You just don’t have enough time.”