Articles | Compliance Week – Page 158
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SEC’s Clayton stresses importance of coronavirus disclosures
With the close of the first quarter and earnings releases and investor calls around the corner, senior leadership at the SEC is pushing for full disclosure transparency regarding impact of the coronavirus pandemic.
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ArticleWhy risk, compliance, and ESG principles matter now more than ever
The current regulatory and risk climate puts companies in a unique position to showcase their GRC and ESG principles, positioning them to thrive in the long run.
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Duolingo adds first general counsel, CFO
Popular language learning platform Duolingo announced the appointments of Stephen Chen as the company’s first general counsel and Matt Skaruppa as its first chief financial officer.
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Beacon Healthcare Systems tabs chief compliance officer
Beacon Healthcare Systems announced the appointment of John Tanner as its chief compliance officer.
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Hanover Insurance replaces longtime general counsel
Hanover Insurance Group announced Dennis Kerrigan has been appointed executive vice president and general counsel following the retirement of J. Kendall Huber, who spent 20 years in the role.
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ORIC Pharmaceuticals names general counsel
ORIC Pharmaceuticals, a privately held, clinical-stage oncology company, announced Dr. Christian Kuhlen has been named general counsel.
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Taro appoints accounting chief
Taro Pharmaceutical Industries announced the appointment of Daphne Huang as vice president, CFO and chief accounting officer.
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ArticleSurvey: Coronavirus has companies scattered with exec pay packages
Results from executive compensation consulting firm Pearl Meyer’s recent survey show that companies are all over the place with how they intend to treat executive compensation during the coronavirus pandemic.
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ArticleFed grants Wells Fargo temporary relief from asset cap restriction
An asset cap imposed on Wells Fargo in response to systemic failures at the bank in recent years has been temporarily modified to reduce limitations on its ability to distribute loans amid the coronavirus pandemic.
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ArticleFASB votes to approve leases, rev rec delays amid coronavirus response
The Financial Accounting Standards Board ruled unanimously on tentative effective date delays to standards affecting revenue recognition and leases in response to the ongoing coronavirus pandemic.
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ArticleFinCEN, OCC offer BSA compliance relief amid pandemic
Two federal agencies that oversee Bank Secrecy Act requirements have notified financial institutions they will agree to “reasonable delays” in the filing of required reports if institutions can show the delays are necessary due to the coronavirus pandemic.
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ArticleStudy: Europe blows U.S. away in financial crime spending
A new report found financial institutions spent $181 billion on financial crime compliance worldwide last year, with European firms spending three to four times more than their counterparts in North America.
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ArticleWhat government contractors need to know about coronavirus-related excusable delays, defenses
Government contractors seeking guidance on how to minimize costly delays and disruptions during the coronavirus (while preserving their rights) can look to these tips from a recent Webinar.
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ArticleRegulatory slowdown due to coronavirus makes compliance role critical
The ongoing pandemic is limiting investigations into most types of white-collar crimes as federal enforcement agencies refocus their attention on coronavirus-related matters.
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ArticleEni, SEC in ‘advanced discussions’ on corruption probe resolution
Italian oil company Eni said in a recent regulatory filing it is in “advanced discussions” regarding a resolution to an SEC probe into allegations of corruption for the award of certain contracts in Algeria.
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ArticleAICPA best practices for conducting remote audits in uncertain times
Auditors facing higher audit risks and new accounting and reporting issues as a result of the coronavirus pandemic and downturns in the economy have some new guidance from the AICPA.
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ArticleFRC sanctions KPMG, former senior partner for audit failings
The U.K. Financial Reporting Council has reprimanded and fined KPMG and one of its former senior partners for a failure to exercise “sufficient professional skepticism” and for failure to obtain “sufficient appropriate audit evidence.”
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ArticleSEC charges chief compliance officer in trading scheme
The SEC has filed a complaint against four individuals, including a former chief compliance officer, for conducting a fraudulent unauthorized trading scheme through retail customer accounts at their Commission-registered brokerage firm.
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ArticleCoronavirus will raise profile of compliance moving forward
The status of compliance practitioners has grown over the past decade, buoyed by changes in the regulatory space as well as record penalties for transgressions. It will become even more important in the wake of the coronavirus pandemic.
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ArticleSEC continues whistleblower award surge with $2M payout
The Securities and Exchange Commission announced the award of $2 million to a whistleblower—its fifth payout in the last 12 days. For the year, the SEC has already matched its 2019 total of eight awards.