Coming in the April 2012 issue of Compliance Week:
Study: Compliance Officers Are Stressed Out!
Feeling stressed these days? Ready to bail on your job? Take solace; you're not alone. A new survey of compliance officers finds that 60 percent suffer from unhealthy levels of stress and have considered quitting. "The demands of the job of the compliance officer can be daunting at times," says David Frishkorn, chief compliance officer at Comverse Technologies.
How Whistleblower Retaliation Can Lead to Racketeering Charges
A recent court decision expands protections for whistleblowers and could put companies that retaliate against them in violation of racketeering laws enacted to combat organized crime. Based on the ruling, companies could also be exposed to whistleblower retaliation claims even if they are later cleared of the alleged wrongdoing.
Europe's New Data Laws Could Snare U.S. Companies
The European Union is moving toward new data protection laws that will require many U.S. companies with a sizable European customer base to comply for the first time, which could carry a hefty price tag. "There is no doubt that this proposal will have major repercussions for business in terms of compliance costs," says Belinda Doshi, a partner at London-based law firm Nabarro.
Fewer Auditor Changes in 2011
Fewer companies changed audit firms in 2011, reflecting relative stability in the market for financial reporting. While second-tier firms made some inroads, picking up a net gain of 28 audit clients, the Big 4 firms saw little turnover, losing a net of only eight clients. KPMG pick up a net gain of 16 clients, the most in the Big 4, while Deloitte experienced the most turnover, with a net loss of 22 clients.
Pharma Rang Up Record FCA Fines in 2011; 2012 to Be Worse
No rest for compliance officers at government contractors: 2011 saw a record-setting $2.8 billion in penalties for the False Claims Act last year, with 2012 looking no better. Already GlaxoSmithKline is edging towards a $3 billion settlement, and industry totals this year could hit $9 billion. Among the violations that can snare drug companies is failure to return Medicare overpayments on time.
Critics Warn of Volcker Rule's Many Unintended Consequences
As federal regulators slouch toward adopting the "Volcker Rule," designed to restrict proprietary trading by banks, critics are warning about its unintended consequences.
Workplace Ethics in Decline?
A new survey from the Ethics Resource Center indicates that workplace ethics may be deteriorating. The survey found a rise in retaliation against whistleblowers, more employees who say they feel pressure to compromise standards, and an increase in the number of companies that are considered to have weak ethics cultures.
In each issue of Compliance Week:
- Coverage of rulemaking actions by the SEC, FASB, and international regulators.
- Coverage of all business-related Supreme Court decisions, and the latest from the appellate courts and Delaware Chancery Courts.
- Coverage of what is happening at the Department of Justice, EPA, IRS, and other business regulators.
- All the latest developments in corporate governance including say-on-pay rules, proxy access, executive compensation, and best practices for the board.
- Plus analysis from our expert columnists, including former FASB chairman Robert Herz.
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